[News Brief] Jun 11, morning | Coinbase Approved to Offer Global Crypto Perpetual Futures Trading Services in the U.S.

Coinbase Approved to Offer Global Crypto Perpetual Futures Trading Services in the U.S.

Coinbase has been approved to offer global cryptocurrency perpetual futures trading services in the United States.

According to Odaily, Coinbase CEO Brian Armstrong said on X that Coinbase has become the first platform to provide U.S. users with access to a perpetual futures market connected to global liquidity.

Armstrong explained that, due to the long-standing lack of clear regulation in the U.S., crypto derivatives trading had moved overseas, and perpetual futures had been difficult to offer legally within the country.

He claimed that about 50% of perpetual futures trading volume may have come from U.S. users accessing offshore platforms through VPNs.

This approval follows continued discussions between Coinbase, Washington policymakers, and regulators. Armstrong said Coinbase would continue working to improve the financial system in a compliant manner.

Watcher.Guru: “Iran Announces Full Closure of the Strait of Hormuz Following U.S. Airstrikes”

According to Watcher.Guru, Iran announced a full closure of the Strait of Hormuz following U.S. airstrikes.

The Strait of Hormuz is one of the world’s key oil transit routes, and the move could affect energy markets and sentiment toward global risk assets.

U.S. Military: “Latest Strike Operation in Iran Completed”

According to Odaily, U.S. military authorities said the latest strike operation conducted in Iran has been completed.

Specific targets and the scale of damage were not disclosed. The development is being closely watched as rising geopolitical tensions in the Middle East may weigh on broader financial market risk sentiment.

Spot Bitcoin ETFs Record Net Outflows for a Fourth Consecutive Trading Day

Spot Bitcoin ETFs recorded total net outflows of $214 million on June 10 (U.S. Eastern Time), marking a fourth consecutive trading day of net outflows, PANews reported on June 11, citing SoSoValue data.

The largest net outflow came from BlackRock’s IBIT, which lost $148 million. In contrast, Grayscale Bitcoin Mini Trust ETF saw net inflows of $17.5167 million, while Fidelity’s FBTC recorded net inflows of $4.0397 million.

As of the time of reporting, total net assets of spot Bitcoin ETFs stood at $77.331 billion, accounting for 6.24% of Bitcoin’s market capitalization. Cumulative net inflows totaled $53.558 billion.

Philippine Central Bank: “Neither Binance nor BlockScholes Holds a VASP License”

The Philippine central bank said that neither Binance nor local partner BlockScholes Technologies holds a Virtual Asset Service Provider (VASP) license.

According to PANews, the central bank explained that participation in a regulatory sandbox operated by the local Securities and Exchange Commission (SEC) does not exempt firms from separately applying for a central bank license.

The Philippine central bank and SEC are currently coordinating over issues surrounding the cooperation between BlockScholes and Binance. Earlier, the Philippine SEC revised BlockScholes’ testing conditions and designated Binance as a global crypto-asset service provider partner rather than a global VASP.

Hong Kong-Regulated Stablecoins Could Launch as Early as Mid-Year

Hong Kong-regulated stablecoins could be launched as early as mid-year, according to PANews.

Christopher Hui, Secretary for Financial Services and the Treasury of Hong Kong, said two stablecoin issuers must complete testing of their technical platforms and systems before formal operations and put in place risk management measures covering reserve management, asset security, price stabilization mechanisms, redemption rules, and cybersecurity.

The Hong Kong Monetary Authority is reviewing the readiness of licensed issuers and is also holding further discussions with other applicants. Key review criteria will include real-world applicability, a sustainable operating model, risk management capabilities, and compliance with Hong Kong and relevant regional laws and regulations.

Spot Ethereum ETFs See $35.593 Million in Net Outflows

Spot Ethereum ETFs recorded total net outflows of $35.5931 million on June 10 U.S. Eastern Time, PANews reported on June 11, citing SoSoValue data.

The largest net outflow came from BlackRock’s ETHA, totaling $20.6375 million. Meanwhile, BlackRock’s ETHB posted net inflows of $1.6751 million, making it the only product to record inflows that day.

As of the time of reporting, total net assets of spot Ethereum ETFs stood at $8.963 billion, representing 4.55% of Ethereum’s total market capitalization. Cumulative net inflows reached $11.207 billion.

Sahara AI: “Sharp SAHARA Price Move Caused by Chain Reaction of Leveraged Liquidations”

Sahara AI said the sharp price movement in the SAHARA token was caused by a chain reaction of leveraged liquidations.

According to PANews, Sahara AI stated that tokens held by the team and investors were neither sold nor moved, and that designated market makers Amber Group and Haring Global had been operating normally. It also said there were no abnormalities in the token smart contract.

Sahara AI explained that in the three weeks leading up to June 9, SAHARA long positions in derivatives had accumulated to elevated levels while liquidity remained thin, causing sell pressure to cascade into large-scale automatic liquidations. At one point, liquidations reached $992,000 per second, and the derivatives price plunged 64% in just 5 minutes and 30 seconds.

It added that $60 million in derivatives orders were executed over 30 minutes, and the derivatives price briefly traded 27% below the spot price. The large on-chain token transfer, it said, was a pre-scheduled top-up of a Chainlink CCIP bridge contract intended to support BNB Chain cross-chain bridge liquidity.

Sahara AI said it is currently working with exchanges to determine the source of the initial selling pressure and plans to release the final investigation results and strengthened response measures later.

Osaka Exchange to Pursue Launch of Bitcoin Futures Trading in 2028

Osaka Exchange, a subsidiary of Japan Exchange Group, is seeking to launch Bitcoin futures trading in 2028, PANews reported on June 11, citing Nikkei.

In an interview, Osaka Exchange President Akira Tagaya said the move is intended to meet hedging demand from institutions investing in Bitcoin ETFs in Japan.

Japan’s Financial Services Agency is pushing to revise the enforcement order of the Investment Trust Act by 2028 to include cryptocurrencies as “designated assets.” If enacted, asset managers would be allowed to establish investment trusts containing crypto assets.

Mastercard Launches AP4M Payment Infrastructure for AI Agents, Including Stablecoin Support

Mastercard has launched AP4M, a payment infrastructure designed to support microtransactions between AI agents and machines. The goal is to reduce costs and settlement delays for frequent small-value transactions, including those using stablecoins.

PANews, citing The Block, reported that Mastercard unveiled the AP4M payment infrastructure for AI agents and machines. AP4M supports bank card, account-based, and stablecoin payments on Mastercard’s global network.

The system combines AI identity authentication with access control, allowing users to set approval rules and spending limits. Initial partners include more than 30 firms such as Coinbase, OKX, Polygon, Solana, Ripple, MoonPay, and Aave Labs.

Mastercard has previously expanded support for stablecoin payments involving USDC, PYUSD, and RLUSD, and has also acquired stablecoin startup BVNK.