Hyperliquid, a decentralized derivatives exchange that also runs its own blockchain, accounts for 44% of on-chain perpetuals trading volume. It launched without venture capital backing or a token presale. The project’s HYPE token is used across staking, governance and the HyperEVM environment, and is also tied to an automated buyback mechanism. The model comes with risks that include leveraged trading dynamics, validator intervention and future token unlocks.

Ink is upgrading to OP Enterprise Fully Managed. Under the arrangement, Optimism will run Ink’s infrastructure while the Ink Foundation focuses on growing the ecosystem.

Maryland state delegate Adrian Boafo won the Democratic primary for the state’s 5th Congressional District on June 23, a result seen as a win for the crypto industry’s political push. Protect Progress, the Democratic arm of the Fairshake crypto super PAC network, spent about $5.5 million backing Boafo. Total outside spending on his behalf was roughly $11 million when including pro-Israel group support.

Optimism will operate Ink’s production infrastructure under a multi-year agreement, allowing the Ink Foundation to focus on growing the ecosystem and developing new financial products. Optimism said the setup is among the first cases of a major Layer 2 handing infrastructure operations to a managed provider.

DeFi protocols have lost roughly $45 billion in total value locked across all chains since January, as exploits and price declines weighed on the sector. CryptoRank data show DeFi TVL has fallen every month this year, sliding from about $115 billion to around $70 billion as of late June. The pullback has been broad-based, with only a small number of major chains posting gains.

DeFi total value locked (TVL) has fallen by more than 39% so far in 2026. The decline underscores a sharp contraction in capital parked across decentralized finance protocols.

JPYSC has launched as Japan’s first yen stablecoin. It is issued by SBI Shinsei Trust Bank and distributed through SBI VC Trade. The rollout makes JPYSC available via SBI’s exchange channel.

Market odds for the Clarity Act—a U.S. bill aimed at establishing clearer rules for the cryptocurrency industry—slid to their lowest level since January 23, 206. On June 24, the probability of the bill reaching President Donald Trump’s desk for signature fell 24% in the past 24 hours to about 41% at press time, according to Polymarket data. The Polymarket contract dropped below its April 25 lows, even after the Senate Banking Committee advanced the bill in a 15–9 vote on May 14.