Odaily News Gotbit founder and CEO Aleksei Andriunin was sentenced to eight months in prison by the U.S. District Court for Massachusetts on Friday for manipulating the crypto market and conducting millions of dollars of wash trading. He will be subject to one year of supervised release after serving his sentence. Prosecutors pointed out that Andriunin and the Gotbit team provided fake trading volume manufacturing services for multiple crypto projects from 2018 to 2024, forging on-chain activity through code and multi-account operations, helping projects to be listed on CoinMarketCap and attracting large exchanges to go online. Gotbit received tens of millions of dollars in compensation for this. In addition, Gotbit was also sentenced to five years of probation, during which time he was not allowed to continue to operate related businesses. Prosecutors said Andriunin was arrested in Portugal in October 2024, extradited to the United States in February 2025, and signed a plea agreement in March this year.

Odaily News SharpLink Gaming, a US-listed company, fell 66.34% to $10.96, with a market value of $653 million. According to previous reports, SharpLink Gaming, a US-listed company known as the “ETH version of MicroStrategy”, spent $463 million to buy 176,271 ETH.

Odaily News The initial forecast for the one-year inflation rate in the United States in June was 5.1%, the expected rate was 6.4%, and the previous rate was 6.60%. (Jinshi)

Odaily News According to market news, INVESCO GALAXY SOLANA ETF has officially completed registration in Delaware

Odaily News According to the Wall Street Journal, US President Trump said that he and his team knew in advance about Israel's plan to attack Iran. In a brief telephone interview on Friday morning, when asked what kind of warning the United States received before the attack, Trump said: "Warning? This is not a warning. But we know what is happening. I talked with Israeli Prime Minister Netanyahu on Thursday and plan to talk to him again on Friday. The attack will be good for the market because Iran cannot obtain nuclear weapons." (Jinshi)

Odaily News Cardano co-founder Charles Hoskinson recently said in a live broadcast that it is recommended to convert $100 million in ADA tokens into stablecoins (such as USDM, USDA) and some Bitcoin within the Cardano ecosystem to promote the development of Bitcoin DeFi. He responded to outside doubts that the sale may affect the price of ADA, saying "this is an inexperienced view" and emphasized that this move will not cause any problems. Hoskinson hopes to increase the ratio of stablecoin issuance to TVL from the current approximately 10% to 30%-40% through this plan. According to DefiLlama data, Cardano's current TVL is $356 million, and the issuance of stablecoins on the chain is only $31 million. In contrast, Solana's TVL is $9.8 billion and stablecoin issuance has reached $11 billion. Hoskinson said in a tweet that the lagging development of stablecoins is "dragting down Cardano", and the proposal can bring "non-inflationary income" and promote the construction of Cardano DeFi economy. It is worth noting that Frederik Gregaard, CEO of the Cardano Foundation, said in March that TVL is not an indicator for measuring ecosystem adoption. (CoinDesk)