[News Brief] Jun 23, morning | BTC Falls Below $62,000

BTC Falls Below $62,000

Odaily, citing OKX market data, reported that BTC has fallen below $62,000.

BTC is currently trading at $61,979, down 3.5% on a 24-hour basis.

$402 Million Liquidated Across the Crypto Market in the Past 4 Hours

Odaily, citing CoinGlass data, reported that $402 million worth of positions were liquidated across the cryptocurrency market over the past four hours.

Of the total liquidations, long positions accounted for $391 million, while short positions accounted for $11.2011 million. During the same period, ETH liquidations totaled $128 million and BTC liquidations totaled $123 million.

Large-scale long liquidations suggest that leveraged positions were forcibly closed during the short-term price decline.

Nasdaq Drops 2.44% at U.S. Market Open, VIX Jumps 23.05%

According to Odaily, based on MSX.COM data, shortly after the U.S. market opened, the Dow fell 0.63%, the S&P 500 declined 1.64%, and the Nasdaq dropped 2.44%. The VIX fear index surged 23.05%.

AI-related stocks broadly traded lower. Micron fell more than 12%, while Astera Labs dropped 9.05%, Marvell lost 8.86%, Teradyne fell 8.73%, and Arm declined 8.36%.

MSX is a trading platform that lists U.S. stocks and ETF-based RWA tokens, including Nvidia, Google, Microsoft, Amazon, Meta, TSMC, and AMD.

Korea Exchange Triggers Circuit Breaker After KOSPI Falls 8%

According to Odaily, the Korea Exchange triggered a circuit breaker and halted trading for 20 minutes after the KOSPI index dropped 8%.

A circuit breaker is a mechanism that temporarily suspends trading when market volatility intensifies due to sharp price swings, helping to cushion market shocks.

Spot Ethereum ETFs See Net Outflows for a Third Consecutive Trading Day

Odaily, citing SoSoValue data, reported that spot Ethereum ETFs recorded total net outflows of $66.0351 million on June 22, U.S. Eastern Time. Spot Ethereum ETFs have now posted net outflows for three consecutive trading days.

The largest outflow came from BlackRock's ETHA, which saw a single-day net outflow of $66.3812 million. ETHA's cumulative net inflow stands at $11.25 billion.

Meanwhile, 21Shares' TETH recorded a net inflow of $346,100. The total net assets of spot Ethereum ETFs stood at $9.436 billion, representing 4.51% of Ethereum's market capitalization.

Spot Bitcoin ETFs Record $68.1757 Million in Net Outflows

Odaily, citing SoSoValue data, reported that spot Bitcoin ETFs posted total net outflows of $68.1757 million on June 22, U.S. Eastern Time.

By product, BlackRock's IBIT recorded the largest outflow at $172 million. In contrast, Ark Invest and 21Shares' ARKB saw net inflows of $63.9991 million, while Fidelity's FBTC recorded net inflows of $57.3805 million.

The total net assets of spot Bitcoin ETFs were measured at $80.217 billion, equivalent to 6.21% of Bitcoin's total market capitalization. Cumulative net inflows stand at $53.33 billion.

Ethereum Foundation Completes Restructuring and Lays Off 54 Employees

According to Odaily, the Ethereum Foundation has completed a months-long organizational restructuring and laid off 54 employees, representing about 20% of its total workforce.

The foundation reorganized into five divisions: protocol, access, user, community, and institutional, along with operations and administrative support teams. The layoffs were part of adjustments to the organization's structure, activities, and spending. Departing employees will receive compensation equal to one month of salary for each year of service or the applicable local legal minimum, whichever is higher, along with transition support.

OKX Europe CEO Says 80% of Exchanges May Struggle to Survive After MiCA Takes Effect

OKX Europe CEO Erald Ghoos said that after the European Union's Markets in Crypto-Assets (MiCA) regulation takes effect, about 80% of cryptocurrency exchanges may struggle to survive.

According to Odaily, Ghoos said that around 60% of European crypto users currently use platforms that have not received MiCA authorization, and many of those platforms are unlikely to obtain approval.

The European Securities and Markets Authority has required unlicensed platforms to stop serving EU customers following the end of the transition period. Twenty of the EU's 27 member states have already ended the transition period, and more than 200 service providers have now received full authorization.

U.S. Senate Passes Bipartisan Bill Banning Federal Reserve CBDC Issuance

The U.S. Senate has passed a bipartisan bill banning the Federal Reserve from issuing a central bank digital currency (CBDC), according to @pete_rizzo_.

According to reports, the bill is expected to pass the House within weeks and be quickly signed by President Trump. The CBDC ban would restrict the issuance of a government-led digital currency and is being interpreted by pro-Bitcoin circles as a policy signal favorable to private digital assets.

SBI to Launch Yen-Pegged Stablecoin JPYSC After Approval From Japan's Financial Services Agency

According to PANews, SBI Group has received approval from Japan's Financial Services Agency and plans to issue the yen-pegged stablecoin JPYSC within this week.

JPYSC will be issued by SBI Shinsei Trust Bank, while SBIVC Trade will handle distribution and exchange through its crypto asset trading platform.

SBI plans to integrate JPYSC with the group's securities, crypto asset, and banking services to improve the convenience of payments and asset transactions.

JPYSC was jointly developed by SBI and Singapore fintech firm Startale Group, and is being promoted as Japan's first trust-based stablecoin project using a trust-structured model.