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Project Overview
Terra is an open-source blockchain hosting a vibrant ecosystem of decentralized applications (dApps) and top-tier developer tools. Terraform Labs is the developer of the Terra blockchain, which is designed to evolve into a new financial infrastructure for the next generation of decentralized apps.
Singapore police charge Hodlnaut former CEO Zhu Juntao with fraud, alleging false statements during Terra collapse
Odaily reports, Singapore police have filed six charges of fraud against Zhu Juntao, the former CEO of the defunct crypto lending platform Hodlnaut. The charges allege that during the TerraUSD collapse in 2022, he instructed employees to issue false statements, misleading users to believe that Hodlnaut had no direct exposure to TerraUSD and had not suffered any losses from the incident. According to the prosecutor, the false information was published on Hodlnaut's Telegram channel, customer emails, and Zhu's own X (formerly Twitter) account. Under Singapore law, if convicted, Zhu faces a maximum of up to 20 years in prison, a fine, or both for each charge. (CoinDesk)
Former Hodlnaut CEO Zhu Juntao Charged with Six Fraud Counts Over Alleged False Statements Related to Terra
According to Cryptopolitan, Zhu Juntao, former CEO of Singapore-based crypto lending platform Hodlnaut, has been charged with six counts of fraud—each carrying a maximum penalty of 20 years’ imprisonment, a fine, or both—for allegedly making false statements regarding exposure to TerraUSD (UST). Prosecutors allege that Hodlnaut invested $317 million in user funds into Terra’s Anchor Protocol without disclosing this to users, resulting in losses of $189.7 million following the UST collapse in May 2022. Zhu Juntao has pleaded not guilty to all charges; a pre-trial conference is scheduled for June 2026.
Galaxy and BitGo Face Off in Court Over Failed Merger; BitGo Seeks at Least $100 Million
Galaxy Digital founder Michael Novogratz and BitGo CEO Mike Belshe are currently litigating over the failed $1.2 billion merger deal from four years ago.According to reports, the transaction was originally intended to take the combined company public on Nasdaq, but was later terminated due to adjustments in SEC accounting guidance and market liquidity crises triggered by the Terra/Luna collapse.BitGo is demanding that Galaxy pay at least $100 million in termination fees, and accuses Galaxy of failing to take reasonable steps to advance the transaction while concealing details of an investigation by U.S. regulators. In response, Novogratz stated that Galaxy was not the subject of the investigation, and argued that BitGo has lost its eligibility to claim the termination fee for failing to submit required financial statements on time. (Bloomberg)
Analyst: History May Repeat Itself, Bitcoin Price Could Drop to $33,000
According to Cointelegraph, cryptocurrency analysts are divided on whether Bitcoin will reenact its historical “Sell in May” pattern in 2026. In the two midterm election years—2018 and 2022—Bitcoin experienced sharp declines in May, falling approximately 30% and 70%, respectively. Analyst Merlijn Enkelaar warned that this historical pattern could repeat, with Bitcoin potentially dropping to $33,000. Joao Wedson, CEO of Alphractal, also noted that if Bitcoin remains persistently below $78,000, the likelihood of a new capitulation phase increases. However, Jeff Ko, Chief Analyst at CoinEx, argued that past crashes stemmed from specific shocks—including the Mt. Gox incident, China’s ICO regulations, the Federal Reserve’s monetary tightening, and the collapses of Terra and FTX—not from calendar-based seasonality. He added that the launch of spot ETFs, corporate treasury allocations, and progress on the CLARITY Act have significantly broadened the institutional buyer base, making a 70–80% deep correction unlikely this cycle. Analyst Michaël van de Poppe highlighted $76,000 as the current critical support level; failure to hold it would likely trigger further downside pressure.
Jane Street seeks dismissal of Terraform lawsuit, claiming attempt to shift blame
: Quantitative trading firm Jane Street has filed a motion with the court to dismiss the insider trading and market manipulation lawsuit filed by Terraform Labs, which accuses the firm of causing the collapse of the UST/LUNA algorithmic stablecoin.In its filing submitted to the U.S. District Court for the Southern District of New York, Jane Street stated that the lawsuit is "baseless" and represents an attempt by Terraform's bankruptcy estate to shift responsibility for the collapse of a multi-billion dollar ecosystem onto a third party.The firm has requested the court to dismiss the entire case "with prejudice," meaning the plaintiff cannot refile the same claims.Jane Street further pointed out that the fraudulent conduct associated with Terraform has already been prosecuted, adjudicated, and penalized, and that it was not involved. Do Kwon has previously pleaded guilty to conspiracy and wire fraud charges and is currently serving a 15-year sentence. A jury has also found Terraform and Kwon liable for securities fraud.
ETH Ushers in "Golden July"? Institutions and Supply-Demand Dynamics Could Become New Catalysts for Ethereum's "New Cycle"
Odaily News, Sharplink research director Steven Ehrlich stated on platform X that Ethereum (ETH) has started July 2026 with strong momentum, gaining approximately 11% so far this month. Historical data suggests investors should pay attention to ETH's July performance. Over the past 10 years, ETH has posted gains in July on four occasions, with an average increase of 43% in those months. Since 2020, July has been ETH's strongest-performing month, with an average gain of about 27%, leading all other months.The core advantage of ETH's July performance is not simply volatility but the asymmetry between gains and losses: when July is positive, the average gain is approximately 43%; in losing years, the average decline is only about 5% (2020 to 2025). Historically, strong Julys for ETH have often coincided with Ethereum-specific catalysts:July 2020: Gained 54%, marking the launch of "DeFi Summer." Compound introduced the COMP token, triggering a yield farming frenzy. DeFi total value locked (TVL) surged from about $1 billion to $4 billion within weeks, DEX monthly trading volume grew by 174%, and ETH benefited as the foundational infrastructure of DeFi.July 2022: Gained 58%. The timeline for The Merge upgrade was confirmed on July 14, market sentiment rebounded from the post-LUNA and 3AC crisis low, and approximately $337 million in short positions were liquidated within 3 days.July 2025: Gained 49%. The US GENIUS Act was signed, spot ETH ETFs recorded a record monthly inflow of approximately $5.4 billion, corporate capital accelerated its allocation to ETH, staking rate reached about 30%, and declining exchange balances contributed to supply tightness.Historically, ETH's strong monthly rallies have typically been driven by a combination of "Ethereum-specific catalysts plus supply-demand imbalance." For July 2026, Steven Ehrlich believes the current market environment presents similar opportunities:1. Institutional infrastructure is being built. EthLabs (protocol R&D) and Ethereum Institutional were recently launched to drive institutional participation in the on-chain ecosystem, with participants including Sharplink, BitMine, and Joe Lubin.2. The Ethereum roadmap continues to upgrade. Vitalik Buterin proposed the "Lean Ethereum" plan on July 4, aiming to simplify Ethereum's architecture, increase speed, and enhance quantum resistance over the next 3 to 4 years. Its significance is comparable to The Merge.3. Corporate capital continues to accumulate ETH. Digital asset reserve companies are still actively building their ETH positions. Sharplink currently holds 886,725 ETH, added 10,000 ETH in purchases last week, and stated its goal is to increase the amount of ETH per share.Steven Ehrlich stated that Ethereum is entering a new phase of development, where institutional adoption, technological upgrades, and capital allocation may become key factors driving ETH's price action.
Benchmark 分析师：STRC 与 Terra 稳定币有本质区别
Benchmark-StoneX 分析师 Mark Palmer 指出，Strategy 旗下 STRC 产品虽近期波动，但其机制与导致 Terra 崩溃的算法稳定币存在根本差异。
Court documents allege Jane Street used insider information from Terraform to short UST, profiting $134 million
According to recently unsealed court documents, Jane Street is alleged to have obtained insider information from Terraform Labs via a private Telegram group named "Bryce's Secret."The documents claim that Jane Street subsequently sold approximately $192 million worth of UST when it was near its peg price, and profited around $134 million by shorting UST during the collapse of TerraUSD and the evaporation of roughly $40 billion in market value from the Terra ecosystem. (CoinDesk)
Terraform Liquidator Accuses Jane Street of Obtaining Inside Information via Telegram Private Group
According to CoinDesk, newly unsealed court documents allege that Jane Street, a major Wall Street quantitative trading firm, obtained non-public internal information from Terraform Labs via a private Telegram group named “Bryce’s Secret” prior to the 2022 Terra collapse. The firm is accused of selling approximately $192 million worth of UST in advance and establishing short positions, thereby profiting roughly $134 million amid the collapse of the Terra ecosystem—valued at approximately $40 billion. The complaint states that on May 7, 2022—just nine minutes after Terraform withdrew $150 million in liquidity from the Curve pool—Jane Street sold around $85 million worth of UST on Curve. The associated wallet was subsequently suspected of being a key address contributing to UST’s de-pegging. However, Jane Street denies these allegations, calling the lawsuit “baseless,” and states it will vigorously defend itself.
Analyst: History May Repeat Itself, Bitcoin Price Could Drop to $33,000
According to Cointelegraph, cryptocurrency analysts are divided on whether Bitcoin will reenact its historical “Sell in May” pattern in 2026. In the two midterm election years—2018 and 2022—Bitcoin experienced sharp declines in May, falling approximately 30% and 70%, respectively. Analyst Merlijn Enkelaar warned that this historical pattern could repeat, with Bitcoin potentially dropping to $33,000. Joao Wedson, CEO of Alphractal, also noted that if Bitcoin remains persistently below $78,000, the likelihood of a new capitulation phase increases. However, Jeff Ko, Chief Analyst at CoinEx, argued that past crashes stemmed from specific shocks—including the Mt. Gox incident, China’s ICO regulations, the Federal Reserve’s monetary tightening, and the collapses of Terra and FTX—not from calendar-based seasonality. He added that the launch of spot ETFs, corporate treasury allocations, and progress on the CLARITY Act have significantly broadened the institutional buyer base, making a 70–80% deep correction unlikely this cycle. Analyst Michaël van de Poppe highlighted $76,000 as the current critical support level; failure to hold it would likely trigger further downside pressure.
B.AI Fully Opens All GPT-5.6 Models, Supporting Both Web Chat and API
B.AI 宣布 GPT-5.6 全系模型正式登陆 Web Chat，此前，B.AI API 已率先接入 GPT-5.6 Sol、GPT-5.6 Terra、GPT-5.6 Luna 三款模型，即日起用户无需配置 API，登录 https://chat.b.ai/chat 即可直接体验包括聊天问答、内容创作、代码编写与复杂推理在内的完整能力。此次全面开放标志着新一代模型在 B.AI 生态中的全场景落地，为开发者和普通用户提供“开箱即用”的智能化服务。未来，B.AI 将持续降低前沿 AI 技术的使用门槛，助力高效创作与决策。
ETH Ushers in "Golden July"? Institutions and Supply-Demand Dynamics Could Become New Catalysts for Ethereum's "New Cycle"
Odaily News, Sharplink research director Steven Ehrlich stated on platform X that Ethereum (ETH) has started July 2026 with strong momentum, gaining approximately 11% so far this month. Historical data suggests investors should pay attention to ETH's July performance. Over the past 10 years, ETH has posted gains in July on four occasions, with an average increase of 43% in those months. Since 2020, July has been ETH's strongest-performing month, with an average gain of about 27%, leading all other months.The core advantage of ETH's July performance is not simply volatility but the asymmetry between gains and losses: when July is positive, the average gain is approximately 43%; in losing years, the average decline is only about 5% (2020 to 2025). Historically, strong Julys for ETH have often coincided with Ethereum-specific catalysts:July 2020: Gained 54%, marking the launch of "DeFi Summer." Compound introduced the COMP token, triggering a yield farming frenzy. DeFi total value locked (TVL) surged from about $1 billion to $4 billion within weeks, DEX monthly trading volume grew by 174%, and ETH benefited as the foundational infrastructure of DeFi.July 2022: Gained 58%. The timeline for The Merge upgrade was confirmed on July 14, market sentiment rebounded from the post-LUNA and 3AC crisis low, and approximately $337 million in short positions were liquidated within 3 days.July 2025: Gained 49%. The US GENIUS Act was signed, spot ETH ETFs recorded a record monthly inflow of approximately $5.4 billion, corporate capital accelerated its allocation to ETH, staking rate reached about 30%, and declining exchange balances contributed to supply tightness.Historically, ETH's strong monthly rallies have typically been driven by a combination of "Ethereum-specific catalysts plus supply-demand imbalance." For July 2026, Steven Ehrlich believes the current market environment presents similar opportunities:1. Institutional infrastructure is being built. EthLabs (protocol R&D) and Ethereum Institutional were recently launched to drive institutional participation in the on-chain ecosystem, with participants including Sharplink, BitMine, and Joe Lubin.2. The Ethereum roadmap continues to upgrade. Vitalik Buterin proposed the "Lean Ethereum" plan on July 4, aiming to simplify Ethereum's architecture, increase speed, and enhance quantum resistance over the next 3 to 4 years. Its significance is comparable to The Merge.3. Corporate capital continues to accumulate ETH. Digital asset reserve companies are still actively building their ETH positions. Sharplink currently holds 886,725 ETH, added 10,000 ETH in purchases last week, and stated its goal is to increase the amount of ETH per share.Steven Ehrlich stated that Ethereum is entering a new phase of development, where institutional adoption, technological upgrades, and capital allocation may become key factors driving ETH's price action.
GPT-5.6 Full Series Models Officially Integrated into B.AI API Network
B.AI announces that OpenAI's latest generation GPT-5.6 full lineup of models has officially been integrated into the B.AI API network. Effective immediately, developers can directly access three distinctly positioned models through B.AI's single interface: GPT-5.6 Sol specializes in ultimate reasoning and complex tasks; GPT-5.6 Terra is perfectly suited for daily workloads; GPT-5.6 Luna prioritizes ultra-fast response and cost-efficiency. Whether you are building agents, optimizing workflows, or exploring the boundaries of AGI applications, B.AI provides you with flexible and stable compute support. Log in to the B.AI platform now to unlock the full capabilities of GPT-5.6 and let the next generation of AI work for you.
OpenAI：GPT-5.6 SOL、TERRA 和 LUNA 将于本周四公开发布
OpenAI 表示，GPT-5.6 SOL、TERRA 和 LUNA 将于本周四公开发布，在全球范围内扩大预览访问权限。
OpenAI Launches Next-Generation GPT-5.6 Series Models, Now in Limited Preview for Select Partners
Odaily OpenAI has officially launched the preview version of its next-generation GPT-5.6 series models, including the flagship model Sol, the balanced model Terra, and the fast, low-cost model Luna. GPT-5.6 introduces a new maximum reasoning effort and features a super mode that can accelerate complex tasks through sub-agents. The model boasts enhanced agentic capabilities in areas such as coding, biology, and cybersecurity. In terms of pricing, per 1 million tokens, Sol costs $5 for input and $30 for output; Terra costs $2.5 for input and $15 for output; Luna costs $1 for input and $6 for output.The model is currently in limited preview for a select group of trusted partners, with plans for a full rollout in the coming weeks. Additionally, the model will be available on Cerebras in July.
OpenAI Releases GPT-5.6 Series Models; Names “Sol,” “Terra,” and “Luna” Draw Attention from the Crypto Community
OpenAI has released its new GPT-5.6 series models—Sol, Terra, and Luna—currently available for limited preview to select partners. As the model names overlap with several well-known crypto projects, this has sparked market discussion.
Related news
B.AI Fully Opens All GPT-5.6 Models, Supporting Both Web Chat and API
B.AI 宣布 GPT-5.6 全系模型正式登陆 Web Chat，此前，B.AI API 已率先接入 GPT-5.6 Sol、GPT-5.6 Terra、GPT-5.6 Luna 三款模型，即日起用户无需配置 API，登录 https://chat.b.ai/chat 即可直接体验包括聊天问答、内容创作、代码编写与复杂推理在内的完整能力。此次全面开放标志着新一代模型在 B.AI 生态中的全场景落地，为开发者和普通用户提供“开箱即用”的智能化服务。未来，B.AI 将持续降低前沿 AI 技术的使用门槛，助力高效创作与决策。
Stablecoin Total Market Cap Records Largest Single-Month Drawdown in June Since Terra Collapse, But Long-Term Growth Logic Remains Unchanged
According to CoinDesk, the stablecoin market experienced its largest correction in recent years in June, with total market capitalization decreasing by $7.7 billion that month, marking the largest single-month decline since the Terra-Luna crash in May 2022. Since the peak in May, the stablecoin market has cumulatively shrunk by approximately $10 billion, with two major stablecoin issuers becoming the main driving factors of this correction: Tether's USDT market cap has dropped from approximately $190 billion in May to $184 billion, a decrease of about $6 billion; while Circle's USDC fell from a high of nearly $80 billion in March 2026 to approximately $73 billion, shrinking by about $7 billion.
ETH Ushers in "Golden July"? Institutions and Supply-Demand Dynamics Could Become New Catalysts for Ethereum's "New Cycle"
Odaily News, Sharplink research director Steven Ehrlich stated on platform X that Ethereum (ETH) has started July 2026 with strong momentum, gaining approximately 11% so far this month. Historical data suggests investors should pay attention to ETH's July performance. Over the past 10 years, ETH has posted gains in July on four occasions, with an average increase of 43% in those months. Since 2020, July has been ETH's strongest-performing month, with an average gain of about 27%, leading all other months.The core advantage of ETH's July performance is not simply volatility but the asymmetry between gains and losses: when July is positive, the average gain is approximately 43%; in losing years, the average decline is only about 5% (2020 to 2025). Historically, strong Julys for ETH have often coincided with Ethereum-specific catalysts:July 2020: Gained 54%, marking the launch of "DeFi Summer." Compound introduced the COMP token, triggering a yield farming frenzy. DeFi total value locked (TVL) surged from about $1 billion to $4 billion within weeks, DEX monthly trading volume grew by 174%, and ETH benefited as the foundational infrastructure of DeFi.July 2022: Gained 58%. The timeline for The Merge upgrade was confirmed on July 14, market sentiment rebounded from the post-LUNA and 3AC crisis low, and approximately $337 million in short positions were liquidated within 3 days.July 2025: Gained 49%. The US GENIUS Act was signed, spot ETH ETFs recorded a record monthly inflow of approximately $5.4 billion, corporate capital accelerated its allocation to ETH, staking rate reached about 30%, and declining exchange balances contributed to supply tightness.Historically, ETH's strong monthly rallies have typically been driven by a combination of "Ethereum-specific catalysts plus supply-demand imbalance." For July 2026, Steven Ehrlich believes the current market environment presents similar opportunities:1. Institutional infrastructure is being built. EthLabs (protocol R&D) and Ethereum Institutional were recently launched to drive institutional participation in the on-chain ecosystem, with participants including Sharplink, BitMine, and Joe Lubin.2. The Ethereum roadmap continues to upgrade. Vitalik Buterin proposed the "Lean Ethereum" plan on July 4, aiming to simplify Ethereum's architecture, increase speed, and enhance quantum resistance over the next 3 to 4 years. Its significance is comparable to The Merge.3. Corporate capital continues to accumulate ETH. Digital asset reserve companies are still actively building their ETH positions. Sharplink currently holds 886,725 ETH, added 10,000 ETH in purchases last week, and stated its goal is to increase the amount of ETH per share.Steven Ehrlich stated that Ethereum is entering a new phase of development, where institutional adoption, technological upgrades, and capital allocation may become key factors driving ETH's price action.
GPT-5.6 Full Series Models Officially Integrated into B.AI API Network
B.AI announces that OpenAI's latest generation GPT-5.6 full lineup of models has officially been integrated into the B.AI API network. Effective immediately, developers can directly access three distinctly positioned models through B.AI's single interface: GPT-5.6 Sol specializes in ultimate reasoning and complex tasks; GPT-5.6 Terra is perfectly suited for daily workloads; GPT-5.6 Luna prioritizes ultra-fast response and cost-efficiency. Whether you are building agents, optimizing workflows, or exploring the boundaries of AGI applications, B.AI provides you with flexible and stable compute support. Log in to the B.AI platform now to unlock the full capabilities of GPT-5.6 and let the next generation of AI work for you.
OpenAI：GPT-5.6 SOL、TERRA 和 LUNA 将于本周四公开发布
OpenAI 表示，GPT-5.6 SOL、TERRA 和 LUNA 将于本周四公开发布，在全球范围内扩大预览访问权限。
OpenAI Launches Next-Generation GPT-5.6 Series Models, Now in Limited Preview for Select Partners
Odaily OpenAI has officially launched the preview version of its next-generation GPT-5.6 series models, including the flagship model Sol, the balanced model Terra, and the fast, low-cost model Luna. GPT-5.6 introduces a new maximum reasoning effort and features a super mode that can accelerate complex tasks through sub-agents. The model boasts enhanced agentic capabilities in areas such as coding, biology, and cybersecurity. In terms of pricing, per 1 million tokens, Sol costs $5 for input and $30 for output; Terra costs $2.5 for input and $15 for output; Luna costs $1 for input and $6 for output.The model is currently in limited preview for a select group of trusted partners, with plans for a full rollout in the coming weeks. Additionally, the model will be available on Cerebras in July.