Cryptoccino — Friday 12 June 2026

SpaceX prices at $135, hitting $1.77 trillion on its Nasdaq debut. The largest IPO on record raised $75 billion, with foreign order books reportedly topping $250 billion in demand. Crypto platforms including Solana-based venues tokenised SpaceX shares ahead of the listing, and onchain prediction markets had been pricing the company closer to $2.2 trillion. The macro read for risk assets is cautiously positive, though the IPO absorbed significant capital that some analysts link to the Bitcoin ETF outflow pressure seen this week. coindesk cryptobriefing decrypt

BlackRock’s covered-call bitcoin ETF is nearly ready to launch. BlackRock filed a fresh amendment for a yield-generating bitcoin product that uses active covered-call strategies on IBIT shares, with Bloomberg analysts expecting a launch shortly. The fee is priced to undercut existing rival products. For funds running income mandates, this opens a bitcoin allocation that generates yield rather than pure price exposure. theblock coindesk

Nakamoto sells $48M in BTC to cut debt and authorises a share buyback. The Nasdaq-listed bitcoin treasury firm offloaded roughly $48 million of bitcoin and derivatives exposure to reduce leverage, an unusual move for a company in the MicroStrategy mould. The simultaneous share buyback authorisation suggests management sees its own equity as cheaper than its bitcoin stack at current prices. Worth watching as a signal of how smaller treasury vehicles are stress-testing their balance sheets in this drawdown. decrypt

SEC proposes scrapping Reg NMS Rules 611 and 610e, a potential unlock for tokenised equities. The Commission put forward amendments that would rescind the trade-through and locked-market rules that have sat at the centre of US equity market structure for twenty years. Galaxy analysts flagged immediately that removal of these barriers could let DeFi automated market makers trade tokenised US stocks at scale for the first time. If it clears, this is one of the more structurally significant regulatory changes for the onchain RWA thesis. sec_press theblock

Digital Asset raises $355M from a16z to scale the Canton Network. Andreessen Horowitz’s main crypto fund led the round, with Wall Street names and at least one sovereign wealth fund joining. Canton is the institutional permissioned-but-interoperable network used by major financial firms to handle traditional assets onchain. The raise is one of the largest infrastructure rounds of the year and signals that serious capital still sees the institutional DLT layer as underbuilt. coindesk bloomberg_crypto decrypt

Coinbase launches dedicated accounts for AI agents to trade and pay autonomously. The Coinbase for Agents product gives AI bots their own accounts with user-defined spending and trading limits, able to execute crypto transfers, payments, and portfolio management without per-transaction approval. It is the most direct move yet by a major exchange to become infrastructure for the agentic economy. Permissions and custody controls will matter enormously here; the attack surface for social-engineering or prompt-injection exploits targeting these accounts is new and untested at scale. coindesk theblock decrypt

Tether leads a $1.4B round into German humanoid robotics firm Neura. Tether is deploying its reserve surplus further into non-crypto tech, following earlier bets on AI and energy. Neura builds humanoid and collaborative robots, putting Tether squarely in the physical-AI infrastructure race alongside SoftBank and others. The cheque size is large enough to raise questions about how Tether defines its treasury mandate going forward. coindesk

Citi begins offering tokenised private-company shares to wealthy and institutional clients. Citigroup is putting shares of private firms onto blockchain rails for its high-net-worth and institutional book, as reported by the WSJ. The move follows similar pilots at other bulge-bracket names and aligns with the SEC’s NMS proposal above in pointing toward a structural shift in how private-market access works. Liquidity and valuation transparency for these tokenised positions remain open questions. coindesk theblock

AudiA6 crypto laundering network taken down, $389M in bitcoin traced. A joint operation involving the DOJ, Secret Service, Europol, and several European agencies arrested two operators and dismantled the AudiA6 service, which allegedly processed over $389 million for ransomware gangs and other criminal clients. Extradition to the US is being sought. Chainalysis supported the blockchain forensics side of the investigation. chainalysis theblock decrypt

Immunefi CEO says frontier AI models are driving a vulnerability surge across DeFi. Mitchell Amador told Cointelegraph that the proliferation of new AI coding tools is the primary catalyst behind the latest wave of DeFi exploits, describing conditions as a near-‘vulnerability apocalypse’. The argument is that AI lowers the bar for finding and writing exploit code faster than it raises the bar for auditing. Teams shipping AI-assisted code without proportionally heavier audit coverage are the near-term target population. cointelegraph_defi

Coinbase urges Bitcoin developers to begin post-quantum migration now. Coinbase’s quantum advisory council published a warning that the window to plan a post-quantum transition is narrowing and work should start immediately. Unresolved questions around migrating coins held in exposed or abandoned addresses could become one of the more contentious governance fights Bitcoin has faced. No exploit has occurred; this is a preparedness flag. decrypt

Japan’s lower house passes bill treating crypto as a financial instrument. The legislation would bring crypto under Japan’s Financial Instruments and Exchange Act framework, paving the way for ETF structures and substantially lower tax treatment on gains. It now moves to the upper house and is expected to take effect next year if it clears. For operators with Japan exposure, this is the most consequential regulatory shift in the market since the country’s PSA amendments years ago. coindesk bloomberg_crypto cointelegraph_regulation theblock

Hungary scraps Orban-era rules that made crypto trading a criminal offence. The Hungarian government announced it will reverse restrictions that required state validation for crypto conversions and exposed users and platforms to jail terms, changes that had prompted Revolut and others to suspend local services. The reversal follows EU scrutiny and a change in government direction. It is a relatively small market but a notable data point in the broader European regulatory thaw. bloomberg_crypto cointelegraph_regulation theblock

US House bill proposes a DOJ-led federal task force targeting crypto theft and scams. The bipartisan legislation would have the Justice Department coordinate crypto theft investigations across federal agencies, support state and local law enforcement, and invest in blockchain forensics capacity. Community bank lobbying groups are separately running ads against the stablecoin reward provisions in the parallel Clarity Act, keeping the legislative picture messy. Philippines regulators also moved this week, declaring Binance and its local partner unlicensed to operate in the country. coindesk cointelegraph_regulation

What else is grinding?

• LG Electronics is building an Arbitrum-based blockchain for digital advertising, sending ARB up roughly 5% on the news. theblock
• Bernstein projects the FIFA World Cup will drive $5 to $10 billion in incremental prediction-market volume, calling it a potential watershed moment for the sector. theblock decrypt
• Bithumb CEO Lee Jae-won has been booked as a bribery suspect by South Korean police over allegations he hired a lawmaker’s son as a favour. theblock decrypt
• Figure is acquiring mortgage lender Kiavi for $717 million, with plans to tokenise the loan assets on its RWA network. theblock
• SBF’s pardon bid is circulating in Washington and reopening old wounds across the industry, per Bloomberg. bloomberg_crypto
• A new report estimates Americans quietly drove up to $34 billion in offshore prediction-market bets, nearly a third of total US volume. theblock

Last sip. Half the bitcoin supply is underwater and the fear gauge hasn’t moved in a week, which means either the floor is very close or nobody has decided to find it yet.