Bitget Daily Digest (6.23)｜US Launches Surprise Strike on Iran’s Nuclear Facilities Over the Weekend, Texas Establishes Bitcoin Reserve, Top Trader Eugene Goes Long

Today’s Preview

1. Ethereum developers may launch the Fusaka Devnet 2 testnet on June 23.
2. Bank of Korea Governor Rhee Chang-yong will meet with heads of commercial banks in Seoul today, expected to discuss stablecoins issued based on the Korean won.
3. SOON will unlock approximately 41.88 million tokens at 4:30 PM Beijing time, accounting for 22.41% of its current circulating supply.
4. US S&P Global Manufacturing PMI preliminary for June will be announced today, previous value: 52.
5. US S&P Global Services PMI preliminary for June will be announced today, previous value: 53.7.

Macro & Hot Topics

1. On June 22, US President Trump stated in a speech that America’s goal is to destroy Iran's uranium enrichment capabilities and stop the Iranian nuclear threat; Iran’s facilities have been completely destroyed. Iran must achieve peace now; if no peace is reached, future conflict will only intensify. Iran will either see peace or fall into tragedy. If peace is not achieved, other targets will be precisely struck in the future.
2. Texas Governor Greg Abbott has signed SB 21 into law, making Texas the third US state after Arizona and New Hampshire to establish a Bitcoin reserve. The fund is set up outside the regular state treasury, managed by Texas Comptroller Glenn Hegar. Abbott also signed HB 4488, which separates the Bitcoin reserve from other state government funds, protecting it from periodic “sweeps” into the general fund. The law also ensures that even if no Bitcoin is purchased by next summer, the legitimacy of the reserve remains.
3. US Department of Justice: Trump’s strike on Iran is constitutionally authorized, but further conflict may require Congressional approval. Senior DOJ officials say Trump, exercising powers under Article II of the Constitution, ordered airstrikes on Iran’s nuclear facilities after consultation with White House and DOJ counsel. The President has broad military authority on national security issues, while Congress holds the power to declare war under Article I of the Constitution. The airstrike on three nuclear sites “does not constitute a war requiring Congressional approval” at this stage, but continued conflict might. The DOJ points out this action follows earlier bipartisan legal precedents. The White House believes it has congressional leadership support and strong legal standing. Attorney General Pam Bondi will testify in Congress tomorrow, reiterating the President’s authority under Article II.
4. Top trader Eugene Ng Ah Sio posted that he is “aggressively going long here—including Bitcoin and some altcoins. I think today’s earlier US strike plus the Hormuz Strait closure has shaken out early longs and sufficiently cleaned the market. Now is the time to buy the dip. If the market gaps directly to $95,000, goodnight—but this is the last stand for bulls, and I’m positioned now.”

Market Updates

Institutional Views

News Updates

1. US Senator Lummis introduces the RISE Act to give civil liability protection to AI developers
2. Iran’s Foreign Policy Committee head: Iran now has legal right to exit NPT
3. Texas Governor signs SB 21, making it the third state to establish a Bitcoin reserve
4. IDF claims simultaneous strikes on four Iranian locations, including first attack on Yazd in central Iran
5. US State Department issues global alert, advises overseas citizens to stay vigilant
6. US Secretary of State: US ready for talks with Iran on the 23rd

Project Developments

1. World Foundation issued 1 million WLD retroactive rewards to early dApp developers
2. Humanity Protocol completed pre-airdrop snapshot for Fairdrop
3. Flap platform announced a dual-track plan to support BROCCOLI (F2B) CTO Foundation
4. UpTop.meme launches “Real User Compensation Plan,” extra airdrop rewards for genuine on-chain addresses
5. Movement Network completed 10 million MOVE token buybacks
6. CoinMarketCap: All systems now fully operational
7. Degen: DEGEN is now the default token for Farcaster mini-programs
8. Animoca Brands to purchase CTA tokens from the open market
9. Yilihua on high-controlled NEIRO: Going all in, “only buying, not selling”
10. Jupiter announces DAO voting suspended until the end of 2025 as current structure falls short

X Highlights

1. BITWU.ETH: Panic is just a playground for the big players; bad news is here to shake your last chips Stop panic selling on news about Iran blockades and Hormuz closures. Every market panic is a trap for retail investors. If you really think the world is ending, buy guns and water, not dump crypto. Bad news always explodes at the top; good news whispers at the bottom. When you panic sell, the “smart money” happily collects your chips. In the end, you’re the one running errands in the storm. Don’t be afraid, just treat the news as background noise—buy when you should, because the market makers always profit from your emotions. Original: https://x.com/BTW0205/status/1936800203279049111
2. CryptoBrave: Kaito’s “shill” mechanism is broken—triple pay can’t buy quality traffic More and more project owners complain: 150,000 USDT in Kaito service fees, 0.5%-1% tokens to KOLs, but most “shilling” still comes from AI ad accounts. To top it off, you pay again for premium KOLs. That’s triple paying with little return. Kaito’s shill mechanism has caused a flood of AI ads and diluted genuine info, making top KOLs less interested. Basically, it’s just an AI-powered agency. Projects gave Kaito its budget, but its multi-billion FDV doesn’t match the model’s real efficiency. Original: https://x.com/cryptobraveHQ/status/1936668169076425144
3. Phyrex: BTC oversold on geopolitics, core support intact, sentiment pivot could come at CME open US equities were closed for the weekend, so crypto markets bore the brunt of geopolitical fear. $BTC’s oversold move mainly occurred during US hours; Asia/EU were more muted, even rebounding at times. The selloff was short-term and liquidity-driven—not an on-chain panic. $93,000–$98,000 support remains solid. Oil’s spike is topical, but the Fed sees limited impact, with markets still focused on Trump’s tariff policy. Structure mirrors the Feb tariff scare; if tension cools, the market could quickly recover. Look to the CME open for a possible sentiment pivot, as Asia’s move then will likely set the tone. Original: https://x.com/Phyrex_Ni/status/1936869420976177198
4. Yue Xiaoyu: The three phases behind Circle’s listing: How the stablecoin leader was built Circle’s IPO has put the spotlight on stablecoins, but its success came in three stages: First, the failed “Bitcoin Alipay” phase; then the turn to exchange/OTC services that faltered in a compliance winter; finally, the bet on USDC, ditching Poloniex, and making a comeback. Circle grasped the migration of liquidity from fiat to stablecoins, went all-in during crisis, and became the first US-listed stablecoin leader. Key takeaways: spot inflection points, serve users clearly, and be willing to pivot to grasp the next wave. Original: https://x.com/yuexiaoyu111/status/1936624259847368968