Odaily News According to @OnchainLens, after being silent for nearly three years, the whale recently deposited 2,450 ETH into the Kraken exchange, which is equivalent to about 6 million US dollars at the current market value. This operation brought it about 2.8 million US dollars in revenue.

Odaily News According to @EmberCN monitoring, in the past 5 hours, two addresses sold a total of about 8.2 million FARTCOIN (worth about 8.65 million US dollars) on the chain, causing the price of FARTCOIN to drop from US$1.08 to US$1.02, a drop of 5%.

Odaily News Solana reserve management agency DeFi Development Corporation plans to issue a convertible bond due in 2030 to raise $100 million. The funds raised will be mainly used to increase holdings of Solana (SOL) and repurchase company shares. (Cointelegraph)

Odaily News The U.S. Senate passed the comprehensive tax cut and spending bill proposed by President Trump with 51 votes in favor and 50 votes against. During the Senate vote, Republican Vice President Vance, as the Senate Speaker, cast a key vote to break the deadlock. The bill is therefore called the "big and beautiful" bill. The revised bill has now been submitted to the House of Representatives for deliberation, and House Speaker Mike Johnson will strive to push it through before the July 4 deadline set by Trump. During the vote, senators voted on multiple amendments, showing the degree of controversy within Congress. (Cailian News)

Odaily News OKX market data shows that ETH fell below 2400 USDT and is now at 2398.96 USDT, a 24-hour drop of 3.49%. (This newsletter is generated with the assistance of AI)

Odaily News Crypto KOL @ _FORAB published an article on the X platform to analyze the principle behind the currency-stock circulation after Kraken, Bybit, Jup and other platforms connected to xStocks, saying that (the tokenization of US stocks is mainly) controlled by the parent company registered in Switzerland, Backed Assets in Jersey. They buy stocks in the US stock market through the channel of IBKR Prime under Interactive Brokers, and then transfer them to the segregated account under Clearstream. Clearstream is the depository under the Deutsche Börse, helping them to store these stocks. When the above buying, transfer, and deposit operations are completed, the contract deployed on the Solana chain will be triggered, corresponding to the issuance of stock tokens, that is, for every 1,000 Tesla shares purchased and stored, 1,000 TSLAx tokens will be minted on the chain at a 1:1 ratio. The control address of the token contract belongs to the issuer Backed. After that, third-party exchanges such as Kraken, Bybit, Jupiter, etc. can directly list the spot and contracts of these tokens. If investors or market makers buy TSLAx tokens greater than or equal to 1, they can apply to Backed to exchange them for actual Tesla shares under the brokerage. In this way, the entire process of mortgaging, minting, issuing, and redeeming the tokens is completed.