According to CryptoPotato, blockchain intelligence firm TRM Labs has reported a significant increase in cryptocurrency deposits into addresses linked to Chinese drug precursor manufacturers. The first four months of 2024 saw a more than twofold increase compared to the same period in 2023. In 2023, these networks received over $26 million in cryptocurrency, with 97% of the over 120 manufacturers studied offering payment options in digital currencies.

The overall amount of cryptocurrency deposited into wallets linked to these manufacturers increased by more than 600% from 2022 to 2023. Bitcoin remains the dominant cryptocurrency used for these transactions, accounting for approximately 60% of the total payment volume. The TRON blockchain saw about 30% of transactions, while Ethereum was used for roughly 6%. The report also highlighted that 11 manufacturers were responsible for over 70% of all crypto-denominated sales of drug precursors. These manufacturers receive funds from unhosted wallets, cryptocurrency exchanges, and payment services, with their wallets most commonly hosted at exchanges.

In addition to cryptocurrencies, Chinese manufacturers also accept fiat currencies through platforms like PayPal, MoneyGram, Western Union, and traditional bank transfers. The report revealed that Chinese drug precursor manufacturers mainly target countries including Canada, the Netherlands, Australia, Germany, and the United States. Advertisements have also been directed towards Russia and neighboring countries, particularly for mephedrone precursors.

A U.S. congressional committee recently reported that the root cause of the U.S. fentanyl crisis lies in the People’s Republic of China, which manufactures over 97% of the precursors used in the global illicit fentanyl trade. According to the report, China subsidizes the production of illicit fentanyl precursors, which has significantly contributed to the opioid crisis in the United States. The committee found that China provides value-added tax rebates to companies manufacturing fentanyl analogs and other synthetic narcotics, provided these products are sold outside China. Another September 2023 report by blockchain intelligence firm Elliptic also uncovered a network of 100 individual suppliers facilitating the illicit fentanyl trade. Elliptic noted that these suppliers use cryptocurrencies, particularly Bitcoin, Ethereum, Tron, and Monero, to conduct transactions and facilitate the transfer of funds from buyers to suppliers.

On Jun 15, 2024, 20:20 PM(UTC). According to Binance Market Data, Bitcoin has dropped below 66,000 USDT and is now trading at 65,929.679688 USDT, with a narrowed narrowed 0.41% increase in 24 hours.

According to CryptoPotato, Bitcoin's price is currently undergoing a correction after failing to make a new all-time high. However, this does not necessarily indicate the end of the bull market. On the daily chart, the price failed to maintain above the $66K level, indicating a correction. Despite recently breaking above a large descending channel, the cryptocurrency has struggled to continue its upward trajectory, resulting in a false breakout. The Relative Strength Index (RSI) has also fallen below 50%, suggesting a bearish momentum. A decline towards the $60K support zone seems likely at this point.

The 4-hour chart presents a slightly more optimistic picture. The price has been consolidating within a horizontal channel. Although the market recently broke below this channel, it quickly rebounded back into it. If the price manages to climb back inside the channel, the market could potentially test the higher boundary of the pattern, located around the $72K mark. However, if the channel breaks down, a drop towards the $60K level could be imminent.

It's important to note that these analyses do not represent investment advice and individuals are advised to conduct their own research before making any investment decisions.

According to CryptoPotato, Ethereum's recent surge has stalled, with the cryptocurrency failing to surpass the $4,000 mark. Despite this, there is still optimism for a potential bull run. Over the past two weeks, the price of Ethereum has been on a downward trend, as per the daily timeframe of the ETH/USDT chart. This short-term downtrend began when the cryptocurrency was unable to break through the $4,000 resistance level. At present, the $3,500 level is acting as a support, preventing further market decline. A bearish breakout could lead to a further drop towards $3,000 and the 200-day moving average, which is located in the same area. This would be a crucial point, as a further drop could alter the overall trend.

On the 4-hour chart, the price appears to be rebounding from the $3,500 support zone. A falling wedge pattern has formed and broken above it, which is typically a bullish reversal pattern. If the market can surpass the recent high of around $3,650, a rally back towards the $4,000 resistance zone could be likely. With the RSI also rising above 50%, a bullish scenario seems more probable. However, it is advised to conduct your own research before making any investment decisions and use the provided information at your own risk.

According to Odaily, Andrei Grachev, co-founder of DWF Labs, recently shared his insights on market trends during downturns on platform X. He noted that even when the market is in a slump, there are always certain things that are on the rise.

Investors, often referred to as 'paper hands', sell off their holdings in an attempt to recover or catch a lucky break. This is why memes are particularly popular in a flat or depressed market. Some of these memes always seem to be on the rise, providing an opportunity for people to gamble.

Grachev's comments highlight the unpredictable nature of markets and the strategies investors may employ to navigate through downturns. His observations also underscore the growing influence of memes in today's digital culture, particularly in the context of market trends.

According to Odaily, the Bitcoin network experienced its longest block time in history, lasting 2 hours and 19 minutes. This event occurred between block heights 689300 and 689301 on July 1, 2021, from 18:27 to 20:46. This is a significant event in the history of Bitcoin, as it marks the longest duration for a block to be added to the blockchain. The block time is a critical aspect of the Bitcoin network's operation, affecting transaction speed and network efficiency. This historical event provides valuable insights into the network's performance and potential areas for improvement. It also serves as a benchmark for future block times, contributing to the ongoing development and optimization of the Bitcoin network.

According to BlockBeats, the market value of tokenized US Treasury bonds has seen a significant increase this year, surpassing $1.5 billion. Since the beginning of April, tokenized Real World Assets (RWAs), including treasury bonds, bonds, and cash equivalents, have grown by 35%. During the same period, the Total Value Locked (TVL) in Ondo Finance, one of the leading DeFi protocols focusing on RWAs, has increased from $221 million in April to $507 million.

Leading the surge is BlackRock's BUIDL, a digital liquidity fund, which has grown by 65% since the start of the quarter, pushing the total market value of tokenized treasury bonds over $1.5 billion. Franklin Templeton's FOBXX, an on-chain US government money fund, has also seen a growth of nearly 27%.

According to Odaily, Arbitrum has proposed the initiation of the Infinite Launchpad. The proposal aims to support project builders through a series of modules including community building, market research, entrepreneur residency programs, and venture capital. The total funding requested for this initiative is $10 million.

The current data shows that the proposal has received mixed reactions from the community. The opposition stands at 54%, while the support is at 28%, and 18% have chosen to abstain from voting.

The Infinite Launchpad is a significant step for Arbitrum, aiming to foster innovation and growth within the community. However, the high percentage of opposition indicates that there are concerns within the community that need to be addressed. The abstention rate also suggests that a significant portion of the community is still undecided.

The proposal is still under consideration, and the final decision will be based on the community's vote. The outcome of this proposal could have a significant impact on the future direction of Arbitrum and its community.

According to BlockBeats, on June 15, the mainstream tokens in the Ethereum ecosystem have seen an increase. The Ethereum Name Service (ENS) token is now reported at $23.003, with a single-day increase of 6.31%. Uniswap (UNI) is now reported at $13.318, with a single-day increase of 4.08%. Etherisc DIP Token (ETHFI) is now reported at $3.95, with a single-day increase of 6.7%. Lastly, Lido DAO (LDO) is now reported at $2.07, with a single-day increase of 3.4%. These figures indicate a positive trend in the Ethereum ecosystem, with mainstream tokens experiencing a rise in value.

According to Odaily, The Beacon, a popular online platform, has announced a reduction in the difficulty level of its newly unlocked fourth battle task. This decision comes in response to feedback from a majority of the community users who found the task to be overly challenging.

The Beacon's official statement on platform X confirmed the change, indicating that the platform is responsive to its user base and willing to make adjustments based on their experiences. This move is expected to enhance user engagement and satisfaction, as it addresses the concerns raised by the community.

The Beacon's commitment to user feedback and continuous improvement is evident in this decision. The platform continues to evolve, ensuring that it remains engaging and accessible to its users. The adjustment in the difficulty level of the fourth battle task is a testament to this commitment.

According to BlockBeats, T-Mobile, a German telecommunications company, announced on June 15th that it plans to venture into Bitcoin mining, expanding its ongoing cryptocurrency activities.

Dirk Röder, the head of Web3 infrastructure and solutions at Deutsche Telekom, made this announcement during a speech at BTC Prague. He stated, 'Since 2023, we have been running Bitcoin nodes, and we are also running Bitcoin lightning nodes. I want to share a little secret with you; we will soon be conducting digital currency photosynthesis (mining activities).'

This move by T-Mobile signifies a significant expansion in its cryptocurrency operations. The company's decision to venture into Bitcoin mining is a clear indication of its commitment to the digital currency sector. This announcement also comes at a time when the cryptocurrency market is experiencing significant growth and acceptance globally.

However, the company did not provide further details about its Bitcoin mining operations, such as the expected start date or the scale of the operation. It remains to be seen how this new venture will impact T-Mobile's overall business strategy and its position in the cryptocurrency market.

According to Odaily, Sushi, a cross-chain trading platform, has announced that its subsidiary, SushiXSwap, is set to launch on a new chain next week. The announcement was made on platform X, where Sushi regularly communicates updates and news to its users. This move is expected to enhance the functionality and user experience of the platform. Further details about the new chain and the specific enhancements it will bring to SushiXSwap are yet to be disclosed. The launch of SushiXSwap on a new chain is a significant step in the platform's growth and development. It is anticipated that this move will bring about a new era of efficiency and effectiveness in cross-chain trading. The platform's users and the broader trading community are eagerly awaiting the launch, which is expected to bring about significant changes in the way cross-chain trading is conducted. The launch of SushiXSwap on a new chain is a clear indication of Sushi's commitment to continuous improvement and innovation in the field of cross-chain trading. The company's decision to launch SushiXSwap on a new chain is expected to have a positive impact on its user base and the broader trading community. The details of the new chain and the specific enhancements it will bring to SushiXSwap are eagerly awaited by the platform's users and the broader trading community.

According to U.Today, the Shiba Inu (SHIB) cryptocurrency has seen a significant increase in its token burn rate. The latest data from Shibburn reveals that over the past 24 hours, the token burn rate of Shiba Inu has surged by 863.58%, with a total of 107,081,056 SHIB tokens burned. This brings the total number of SHIB tokens burned over the last week to 368,456,226.

Token burning is a process where a portion of tokens are permanently removed from circulation, reducing the total supply. This deflationary mechanism is used to increase scarcity and potentially drive up the token's value. For Shiba Inu, a meme coin known for its massive supply, significant burns can have a major impact on its market dynamics.

Despite the impressive burn rate, SHIB's price has remained relatively low in recent days, reflecting trends in the broader crypto market. As per the latest data, SHIB is trading at $0.00002176, marking a modest increase of 0.41% in the past 24 hours. However, the trading volume has seen a significant decline, down 56.62% to $340.81 million.

From a technical perspective, Shiba Inu presents a mixed picture. The Relative Strength Index (RSI) for SHIB stands at 39.71. The RSI is a momentum oscillator that measures the speed and change of price movements, with readings below 30 indicating an asset is oversold and above 70 indicating overbought. An RSI of 39.71 suggests that SHIB is currently in neutral to slightly bearish territory.

On a more optimistic note, SHIB's price remains above its 200-day Exponential Moving Average (EMA) and 200-day Simple Moving Average (SMA). These moving averages are widely watched indicators that help smooth out price action over a given period. Trading above these averages is typically seen as a bullish sign, suggesting that SHIB's long-term trend may still be positive despite recent price weakness.

According to U.Today, MicroStrategy, a business intelligence firm headed by Michael Saylor, has disclosed the pricing of its latest debt offering. The firm aims to raise $700 million by issuing convertible senior notes due in 2032. The raised funds will be used to buy more Bitcoin and cover general corporate expenses. This decision comes after a previous announcement to raise $500 million, suggesting a possible high investor demand that has enabled MicroStrategy to increase the offering.

The convertible notes will carry an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, starting from December 15, 2024. The notes will mature on June 15, 2032, unless they are repurchased, redeemed, or converted earlier. After June 20, 2029, MicroStrategy has the option to redeem the notes for cash under certain conditions, provided the company's class A common stock meets specific price thresholds.

Investors will have the choice to convert the notes into cash, shares of MicroStrategy's class A common stock, or a combination of both. The initial conversion rate is approximately 0.4894 MSTR shares per $1,000 principal amount of notes, which translates to an initial conversion price of about $2,043.32 per share. This price signifies a 35% premium over the company's recent stock price.

MicroStrategy anticipates the net proceeds from the offering to be around $687.8 million, or up to $786 million if the initial purchasers exercise their option to buy additional notes. The sale will be conducted privately and only to qualified institutional investors.

According to U.Today, Ripple CEO Brad Garlinghouse has given an update on the company's ongoing legal battle with the Securities and Exchange Commission (SEC). During his recent appearance at XRP Apex 2024, Garlinghouse stated that the lawsuit is nearing its conclusion. He suggested that the case could be resolved by the end of summer, although the exact timing is dependent on the judge's decision.

In other cryptocurrency news, financial analyst John Bollinger has shared his insights on Bitcoin's recent price volatility. Over the past few weeks, Bitcoin's price has seen dramatic fluctuations, peaking around $70,000 before experiencing a 4% drop. Bollinger suggested that extended periods of price consolidation could lead to significant price gains, citing the market principle, 'the bigger the base, the higher in space.' The key question now is whether Bitcoin will maintain its current level or experience further changes.

Lastly, the meme token Shiba Inu (SHIB) is approaching a critical price threshold. The 200-day Exponential Moving Average (EMA) is expected to become the primary support level for SHIB. If the token can maintain its position above this level, a major price reversal could occur. However, if this support is not maintained, SHIB could face further declines and a bearish trend. Factors such as positive news in the Shiba Inu ecosystem, market recovery, or increased interest from institutional investors could potentially trigger a price reversal.

According to U.Today, Edward Snowden, a renowned whistleblower from the NSA, has expressed his concerns about OpenAI and its products on a social media platform. He specifically commented on the recent appointment of retired US Army general and former head of NSA, Paul Nakasone, to the board of directors of OpenAI, led by Sam Altman. Nakasone had led the National Security Agency between 2018 and 2023. Snowden quoted a tweet from user @MarioNawfal, which suggested that Nakasone's appointment would enhance AI's role in cybersecurity by detecting and responding to threats quickly. This appointment came amidst rising concerns about the safety culture at OpenAI.

Snowden warned his followers not to trust OpenAI or its products, such as ChatGPT. He tweeted that OpenAI has 'gone full mask-off' and described the appointment of a former NSA Director to the board as a 'willful, calculated betrayal of the rights of every person on Earth.' He ended his tweet with a stern warning to his followers.

In related news, tech mogul Elon Musk, founder of an AI startup, also expressed his concerns about OpenAI. Musk, who opposes Sam Altman and the direction OpenAI has taken with its products, commented sarcastically on the news, stating, 'Can’t wait for OpenAI to have access to my phone.' Earlier in the week, Musk had expressed concerns about OpenAI's collaboration with Apple to integrate ChatGPT into all Apple devices. He stated that if this were to happen, he would ban all Apple devices from his companies, fearing that OpenAI would have access to user data and potentially misuse it.

According to U.Today, Robert Kiyosaki, the financial educator and author of the popular finance management book 'Rich Dad Poor Dad', has made a bullish prediction about Bitcoin's price. He expressed his frustration at the common excuse he hears from people reluctant to invest in Bitcoin, which is that they find it too expensive. Despite the high trading value of Bitcoin, Kiyosaki believes that it will surge even higher. He quoted his book, stating that 'Your profit is made when you buy…Not when you sell.' He also mentioned that many people wish they had bought Bitcoin when it was worth just $10, but those days are long gone.

Kiyosaki recently predicted that Bitcoin could reach as high as $350,000 by mid-August or at some point in 2024. However, he clarified that this is not a prediction, but his opinion. He also revealed that he continues to buy Bitcoin, Ethereum, and Solana, not because he is certain of these digital currencies, but because he does not trust the current U.S. government and its fiscal policies.

In response to Kiyosaki's tweet, trader and entrepreneur Willy Woo pointed out that the Bitcoin run will end when everyone is invested in it. He revealed that so far, 4.7% of the free capital on the market has been invested in Bitcoin by financial institutions. According to Woo, Bitcoin is currently winning, which he stated is 'exactly what VCs do for emerging tech.'

According to U.Today, Shytoshi Kusama, the enigmatic leader of Shiba Inu, has broken a 10-day silence with a cryptic message to the SHIB army. Kusama, who took over the leadership after Ryoshi's disappearance, has been relatively quiet on social media platforms recently. His latest tweet, shared with the SHIB army, was a philosophical revelation about something he shares with them - 'the beauty of the moon.' Kusama seems to be taking time for himself, reflecting on the future of Shiba Inu projects while wishing the community a peaceful holiday weekend.

On June 16-17, various holidays were celebrated worldwide, including Eid al-Adha in the Islamic world, Fresh Veggies Day, International Day of Family Remittances, Bloomsday, World Refill Day, and International Day of the African Child. Kusama's tweet read, 'If there is one thing we all share, it is the beauty of the moon. I sit alone staring at it, wishing you the most peaceful [holi(y)day] weekend of the year. Surely, as it is written, so shall it be. With love, Shy.'

In another development, Kusama thanked Vitalik Buterin, the leader of Ethereum, on June 5. Buterin had published a summary of features necessary for a crypto project to gain his respect. These included a public-good goal the project serves, some kind of 'fun mechanics' that are about something more than just trading a token, and the project's longevity, ideally lasting 10+ years. Buterin emphasized that even if all tokens involved go to zero, the average person who participated should be happy to have done so, a goal regularly achieved by businesses and charities.

Kusama responded to Buterin's tweet, stating that he was about to close a meeting that aligned with these criteria. He added that the SHIB team was 'thinking much bigger than this and on a massive scale,' thanking Buterin for providing these criteria that match Shiba Inu.

According to U.Today, the ongoing legal dispute between Ripple Labs and the United States Securities and Exchange Commission (SEC) has taken a new turn. The SEC has filed its response to Ripple Labs' accusations of demanding unreasonable settlement charges. Ripple had previously compared its case to that of Terraform Labs, arguing that the SEC's fine was disproportionately high given that no users suffered any loss in their case, unlike in the Terraform ecosystem token collapse.

In response, the SEC is asking the court to approve a $2 billion settlement for Ripple's alleged violation of securities law when it sold XRP to institutional investors. Ripple, however, is contesting this proposed fine, arguing that it should not pay more than $10 million. The SEC has countered that its charges are typically agreed upon on a case-by-case basis. It also pointed out that Terraform Labs' charges were lower due to several factors, including the company's bankruptcy status and lack of liquidity to pay a higher fine.

The SEC further noted that while Terraform Labs agreed to cease the actions that led to the violations, Ripple Labs has continued the same actions that prompted the lawsuit. The decision on the appropriate remedy is still pending in court. Meanwhile, Ripple Labs has continued to expand its business with a stablecoin update and a partnership with Archax.

The final decision could have significant implications for other SEC-related cases that may require settlement.

According to U.Today, cryptocurrency analyst and trader Ali Martinez has reported a significant Bitcoin sell-off recently. Large cryptocurrency whales and miners have reportedly sold Bitcoin worth over four billion U.S. dollars. Data from the Santiment on-chain data agency was used to illustrate this. In the last 10 days, whales have offloaded more than 50,000 BTC, valued at approximately $3.30 billion. Additionally, Bitcoin miners have sold over 1,200 BTC, worth nearly $80 million. These two groups have collectively disposed of over $4 billion worth of Bitcoin.

Miners regularly sell BTC to cover operational expenses and cash out profits from the mining business, especially when Bitcoin hits a new local high. Over the past week, Bitcoin, the world's leading cryptocurrency by market capitalization, has seen a nearly 9% drop, falling from $71,655 to $65,228. As of the time of writing, BTC has managed a slight recovery, adding 1.48% and trading at $66,160.

Cryptocurrency trader and entrepreneur Willy Woo suggests that old Bitcoin holders, referred to as 'original gangsters' or 'OG', are actively selling BTC. He stated that this pattern is as old as the genesis block and that they sell into every bull market. Despite the sell-off, many large players continue to buy BTC. According to an earlier tweet from Ali, whales withdrew roughly $1 billion worth of Bitcoin from crypto exchanges within 48 hours, equating to 14,140 BTC.