Odaily News New York law firm Pomerantz LLP has filed a class action lawsuit against Strategy (formerly MicroStrategy) in the Eastern District Court of Virginia, alleging that it issued false and misleading statements about the profitability of its Bitcoin investment strategy between April 30, 2024 and April 4, 2025, in violation of federal securities laws. The lawsuit alleges that Strategy exaggerated the profitability of Bitcoin investments and financial operations, downplayed the risk of price volatility, and did not fully disclose the actual impact on financial statements after adopting FASB accounting standard ASU 2023-08. The standard requires crypto assets to be measured at fair value, replacing the previous cost impairment model that only recognized impairment when prices fell. Pomerantz pointed out that the company generated $5.9 billion in unrealized losses based on the new accounting standards in the first quarter of 2025, causing its stock price to fall by more than 8%, but the company continued to issue optimistic forecasts and concealed potential huge losses. Other investors can now apply to join the class action lawsuit before July 15. (The Block)

Odaily News Gate officially launched the xStocks U.S. stock trading zone, supporting both spot and contract markets. The first batch of support includes 8 popular U.S. stock targets including COINX, NVDAX, CRCLX, AAPLX, METAX, HOODX, TSLAX, GOOGLX, etc. Users can directly trade tokenized U.S. stocks through crypto assets such as USDT. At the same time, Gate Alpha has also opened the xStocks trading function. The first batch of online targets include MSTRx, CRCLx, SPYx, NVDAx, TSLAx, and AAPLx, further enriching the user's choice space in on-chain asset trading and strategy exploration. Gate has become the world's first trading platform to support the encrypted U.S. stock contract market. Gate xStocks U.S. stock zone adopts a compliant physical asset tokenization model. All online tokens correspond to publicly traded stocks, have full asset collateral, support free transfer and on-chain transactions, and can achieve seamless integration across blockchains and multiple ecosystems. Gate's US stock trading is open to global users, has no KYC restrictions, supports 24/7 trading and other functions, greatly reducing the investment threshold. With the Gate brand upgraded to Gate.com in 2025, the platform's spot trading volume and liquidity ranked second in the world, and the contract market grew steadily, ranking among the top five in the world. Gate is accelerating the strategic implementation of the crypto asset platform in the global financial infrastructure.

Odaily News MemeCore (M) has been launched on Binance Alpha. Eligible users can use Binance Alpha Points to claim 1,000 M tokens airdrop after the launch. This airdrop will be distributed in two phases: Phase 1 (first 18 hours): users with at least 214 Alpha Points can claim; Phase 2 (last 6 hours): users with at least 140 Alpha Points can participate, first come first served, until the airdrop pool is full or the event ends. Claiming the airdrop will consume 15 Binance Alpha Points.

Odaily News According to official news, Bithumb has added Humanity Protocol (H) and Mantra (OM) Korean won trading pairs.

Odaily News According to @ai_9684xtpa monitoring, a whale bought 1,406 ETH at an average price of $2,592.47 on the chain an hour ago, with a transaction amount of $3.645 million. This address has conducted three swing operations in the past month, with a current record of 2 wins and 1 loss, and a cumulative loss of $198,000.

Odaily News Gan Tian, CEO of China Asset Management (Hong Kong), revealed that many institutions are exploring the integrated application of payment + redemption + asset management, including China Asset Management (Hong Kong). At present, the stablecoin business is at the critical point of "basic rules have been determined and application scenarios are waiting to explode." From the perspective of technology and pilot progress, stablecoins have entered the practical operation stage from concept verification. In the future, the global monetary system may converge to a few mainstream stablecoins, but this process needs to rely on strong financial markets and trade scenarios. (Securities Times)