SnapShot 263

Hello SnapShotters,

The announcement of a peace agreement signing brought a rally across equities, crypto, and commodities. Bitcoin (BTC) rebounded above US$65,000.

However, it was abruptly postponed right before Friday; a hawkish reading from Warsh’s first FOMC speech also contributed to the reversal of BTC’s gains.

↔️ In his first policy decision as Federal Reserve Chair, Kevin Warsh kept rates unchanged at 3.50% to 3.75%, and leaned into a hawkish dot plot.

🪐 Newly launched SpaceX ETFs doubled the day-two volume records previously set by BlackRock's IBIT, pulling in $3 billion in a single session. Corporate treasuries mirroring Elon Musk's BTC allocation is cushioning the base of the crypto market despite the Fed's hawkish tone.

💰 Strategy added 1,587 BTC in its latest haul, bringing its treasury to 846,842 BTC. Bitmine added $136 million in ETH after raising $274 million via a preferred stock offering.

🌊 Spot BTC ETFs broke the 13 consecutive trading sessions of net outflows (totalling around $4.4 billion) with nearly $86 million of fresh inflows on 13 June.

Let's look at the other headliners of the crypto world.

News Snaps

🇿🇼 Zimbabwe Launches First Crypto Licensing Framework
Digital asset firms will have to register with the central bank’s Financial Intelligence Unit or face prosecution, bringing oversight to a market largely operated through peer-to-peer channels.

🔁 XRP, TAO, UNI Lead Altcoin Rebound
XRP gained on continued ETF inflows and renewed Asian trading demand, while Bittensor (TAO) rallied after US restrictions on Anthropic's latest AI models renewed interest in decentralised AI networks. Uniswap (UNI) surged over 20% in 24 hours after Standard Chartered initiated a bullish price target.*

🚀 SpaceX Overtakes Amazon by Market Capitalisation
SpaceX became the world's fifth-largest publicly traded company as its market value climbed to $2.65 trillion, surpassing Amazon. The stock added roughly $800 billion in market capitalisation since last week's IPO, helped by demand for its newly launched options contracts.

🥊 UFC Bonuses to Include USD1 Stablecoin
World Liberty Financial is adding $250,000 in USD1 to UFC Freedom 250’s 'Performance of the Night' pool at the White House event. The stablecoin payout joins a separate $1 million CRO-denominated bonus pool sponsored by Crypto.com.

🇯🇵 Japan's Highest Interest Rate Since 1995 Fails to Rattle Crypto
The Bank of Japan raised rates to 1%, continuing its unwind of the yen carry trade. BTC held above $65,000 and crypto market capitalisation remained largely unaffected.

What’s Ahead

📅 Q4 2026: OpenAI and Anthropic IPO Race Begins
OpenAI and Anthropic have both confidentially filed for US listings, reportedly targeting valuations of roughly $1 trillion and $965 billion, respectively. 

*Past performance is not indicative of future results.

Number of the Week

Source: BBC

Chart of the Week

Bitcoin mining profitability has fallen to multi-year lows. As of mid-June, the estimated daily revenue generated by 1 terahash per second (TH/s) of computing power dropped to just $0.027 — down roughly 30% from a month earlier and a fraction of the levels seen during the 2021 bull market.

For miners, a lower hashprice means less revenue for the same amount of work. 

As BTC struggles to regain momentum and mining rewards become less lucrative, pressure is building across the sector. A recent 10% difficulty adjustment was a reprieve, but profitability remains near historic lows, raising fresh questions about miner sustainability for an industry collectively holding over $110 billion in BTC.

As of 15 Jun 2026

Sources: Hashrate Index, Crypto.com Research

Crypto Trivia

Two of the three stablecoins below are strictly fiat-collateralised (backed by physical cash and US Treasury bills). Which one is the odd one out and is NOT fiat-collateralised?

A) USDT (Tether)
B) USDS (Sky, formerly MakerDAO)
C) USDC (USD Coin)

Find the correct answer at the end of this newsletter.

Digital Drops

Web3 games come and go, but @ManeCityGame is still building. The team shares how they keep players coming back — read the latest update here.

Security Tips

Canadian Teen Pleads Guilty to Draining $13 Million via Fake Tech Support Calls

A 20-year-old Canadian teen pleaded guilty to conspiracy to commit money laundering after stealing more than $13 million in cryptocurrency through social engineering. 

The scammer and co-conspirators impersonated employees from Google, Trezor, and other tech firms, calling victims to claim their accounts had been compromised and required immediate action.

Once persuaded, victims were coached to transfer funds or surrender their credentials under the guise of security. The stolen funds were then quickly converted into luxury cars, private jet charters, and rental properties.

How to Keep Funds Safe:

• Hang up on unsolicited callers — legitimate firms will never call to request fund transfers
• Enable withdrawal whitelist and cooling-off delays on exchange accounts to prevent instant, irreversible transfers
• Treat any instruction to 'secure' funds by moving them to a new address as a definitive indicator of fraud, no matter how credible the caller sounds

Source: Cointelegraph

Crypto Trivia Answer

B) USDS (Sky, formerly MakerDAO) ✅

USDS (formerly DAI) operates as a decentralised, hybrid-backed stablecoin utilising on-chain vaults, a Peg Stability Module (PSM), and real-world assets (RWAs) to maintain solvency.

Conversely, Tether’s USDT and Circle’s USDC are fiat-collateralised stablecoins backed 1:1 by traditional dollars and short-term government debt in bank reserves.

That's it for this week's SnapShot. Want more? Find out what’s trending in the crypto world.