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Crypto news, Wu Shuo learned that the Enforcement Directorate (ED) Bengaluru branch searched multiple locations from July 18 to 19 under the Prevention of Money Laundering Act (PMLA) to investigate a virtual digital asset OTC (over-the-counter) fraud case. The individuals involved are allegedly luring foreign investors by offering discounted tokens such as MultiversX, Kava, Beam, Grass, SUI, Vana, and AGLD as bait. Law enforcement has seized digital devices and virtual digital assets worth approximately 8,700 USDT, and the case is still under investigation.

Coin World News: Strategy Inc. (Nasdaq: MSTR) announced that its U.S. dollar reserves now cover 20.4 months of dividends, extended from the previous 20 months. The company increased its cash reserves to $3 billion to support its liquidity and preferred securities. This $450 million expansion is part of Strategy Inc.’s efforts to its 20-month dividend buffer strategy.

Coin World News: This week, Bitcoin’s trading price is hovering near $62,800, as investors prepare for a series of economic data releases and geopolitical headlines. Bitcoin has remained steady above the $60,000 support level, even as Asian equities fall and oil prices rise. Over the past 24 hours, Bitcoin is down by about 1.4%, while its seven-day change remains nearly flat. Four key factors are drawing attention: the conflict between Iran and Israel, inflation data, the consumer activity report, and major corporate earnings. The fighting between Iran and Israel pushed Brent crude oil above $79 per barrel, increasing concerns about shipping through the Strait of Hormuz. The June Consumer Price Index will be released on Tuesday, followed closely by the Producer Price Index. Strong economic data could weigh on Bitcoin, while weak inflation data may leave room for a rebound. The second-quarter earnings season also begins this week, with JPMorgan, Goldman Sachs, Bank of America, Wells Fargo, and Citigroup set to begin reporting on

Crypto news: Since the stablecoin market hit its all-time high in May 2026, it has lost about $10 billion. In June, total supply fell by $7.7 billion to about $312 billion, marking the largest monthly drop since the TerraUSD collapse in May 2022. Current data shows that Tether’s USDT is about $184.15 billion and Circle’s USDC is about $73.41 billion. USDT still accounts for nearly 59% of the market, indicating the sector’s high dependence on these two largest dollar-backed tokens. Despite continued expansion by smaller compliant issuers during the same period, the overall market still faces pressure.

AscendEX announced it will cease operations effective July 1, 2026, with account opening, deposits, trading, staking, etc. disabled, retaining only limited withdrawal functions; as of July 6, withdrawals require manual review, auto withdrawals are suspended, may be delayed, require additional information, or may be unprocessable, and the platform cannot guarantee timing or amounts. ZachXBT stated that public hot wallet liquidity is insufficient to handle multiple seven-figure withdrawals, and there have been previous instances of withdrawal delays/unprocessed withdrawals and deposits still being open.

CoinWorld news, MiniMax is developing a large language model with 2.7 trillion parameters, which may be released as early as the third quarter, with plans to open-source it. The internal codename for the model is m3 pro, but the final release name has not been determined. If the weights are open-sourced as planned, this model could become the largest open-source large model in the world by parameter count. MiniMax's current flagship model, m3, has 428 billion parameters, and the new model's scale is approximately 6.3 times that of m3, also surpassing several existing trillion-parameter open-weight models. A larger parameter count generally benefits complex reasoning and multi-step instruction tasks, but final performance still depends on training quality, activated parameters, inference cost, and benchmark results.