
Bitcoin miners face deepening margin squeeze as revenue falls below production costs
An estimated 20% of miners are now unprofitable at current prices, and the stress shows up at the network level, too.
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An estimated 20% of miners are now unprofitable at current prices, and the stress shows up at the network level, too.

1. OVERNIGHT MOVES

Ink, a Kraken-incubated project, has partnered with Optimism to outsource its production infrastructure. Under the multi-year deal, Optimism will run Ink's infrastructure while the Ink Foundation focuses on ecosystem growth and new financial products.

Standard Chartered forecasts Aave (AAVE) could reach $3,500 by the end of 2030, representing a 50x gain. The bank describes this as 'generational wealth' and bases its prediction on DeFi asset growth and Aave's recovery post-KelpDAO.

The total value locked in DeFi has fallen by 39% this year, wiping out $45 billion in value. This decline is driven by a broader market downturn and major exploits, including the Kelp DAO hack.

Standard Chartered analyst Geoff Kendrick predicts Aave's token could rise to $3,500 by 2030, citing the platform's recovery from an April cyberattack and its positioning to benefit from growth in tokenized assets and the broader DeFi revival.

SecondFi suffered a $2.4 million loss due to three attacks exploiting a flaw in its wallet software. The team managed to secure 129 million ADA before further damage could occur.

The Ethereum Foundation laid off 20% of its staff while a new spinoff group, EthLabs, launched this week. Many crypto leaders see these changes as a sign of Ethereum's growing maturity and decentralization.

Bitcoin ETP holdings are down 8% from their peak, the largest drawdown on record, according to Head of Research Vetle Lunde at K33. Rolling one-year flows have turned negative for the first time since 2023.

BlackRock, the world's largest asset manager, recommends a 1–2% Bitcoin allocation in diversified portfolios, arguing it can enhance returns while maintaining manageable risk.

DeFi Dev Corp has launched a new tool to automatically audit smart contracts for vulnerabilities. The tool is currently in beta and has already identified critical bugs in several popular DeFi projects.

The Trump administration is allocating significant resources to quantum security, which could help protect Bitcoin from future quantum computing threats. Millions of bitcoins with exposed public addresses are potentially at risk from quantum attacks.

SBI Group has introduced JPYSC, Japan’s first stablecoin backed by a trust bank. For now, it’s only available to SBI VC Trade account holders while regulators clarify its status.

Black Lake and Nuva Labs have successfully tokenized $25 million in mortgage loans on the Provenance Blockchain, marking a significant step in the real-world asset (RWA) space. This move aims to bring traditional financial instruments onto the blockchain for greater transparency and liquidity.

Ethereum's latest funding crisis has sparked a fierce debate over whether to tax staking rewards or to pursue funding from large ETH holders for new organizations like EthLabs. The proposal would have taken a cut from staking rewards to fund Ethereum's core development. However, major ETH holders have stepped in with alternative funding solutions, potentially making the tax unnecessary.

OpenPayd, a financial infrastructure provider, has obtained a MiCA license, allowing it to offer regulated crypto services in Europe. This move comes as stablecoin adoption continues to grow in the region, with OpenPayd supporting companies like Kraken.

South Korea's Financial Services Commission has placed token securities infrastructure within a wider capital-market modernization plan covering faster settlement, longer trading hours and digital transformation.

A notorious crypto trading bot known for front-running was tricked and drained of $7.5 million. The bot, named 'JaredFromSubway,' was exploited by an unknown attacker who manipulated the bot's trading logic. This incident highlights the vulnerabilities in automated trading systems and the importance of security in crypto transactions.

Bitcoin transactions have spiked to over 820,000 in a single day, the highest since 2024, driven by increased activity on the Rune protocol. This surge is also boosting transaction fees, benefiting miners and the network's security.

1. OVERNIGHT MOVES

The CBOE is reportedly exploring the conversion of its Bitcoin and Ethereum continuous futures into perpetual futures, following regulatory changes and competitors' moves. The shift could make crypto trading more accessible and flexible for traders, though the exchange has not made a final decision.

OG Bitcoin holders' spending dropped to a 19-month low, as market cycle indicators point to September as a potential market bottom.

BNY Mellon reports that asset managers are rushing to explore blockchain-based ETFs out of fear of missing the early-mover advantage in tokenized finance, a trend that could broaden access to such investments.

The European Securities and Markets Authority (ESMA) has ordered unlicensed crypto firms to stop serving EU clients and wind down operations. This move comes as the deadline for compliance with the Markets in Crypto-Assets (MiCA) regulation approaches on July 1, 2026.