ETH falls below the $2600 mark

The current price of ETH is $2616.21, with a 1.72% increase in the past 24 hours. Among them, the total liquidation amount of contracts across the entire network in the past 1 hour was 10.12 million US dollars, with the main liquidation being short orders and ETH liquidation being 4.46 million US dollars (44.09%). The data is for reference only.

Odaily Planet Daily News: Paradigm has submitted a friend of the court opinion to the New York court, supporting Tornado Cash co-founder Roman Storm and calling on the jury to accurately understand the legal definition of "fund transfer business". Paradigm emphasized that Storm, as a software developer, did not control user funds, and the prosecution accused it of violating current laws and FinCEN guidelines. Paradigm warns that if Storm is convicted, it could have a chilling effect on encryption, AI, and open source software development. （Cointelegraph）

BlockBeats News: On June 17th, according to Investing, SRM Entertainment, a Nasdaq listed company, announced personnel changes after receiving a $100 million equity investment to launch its TRX reserve strategy. Three board members resigned and Weike Sun was appointed as the chairman of the board, while Zhihong Liu and Zi Yang were appointed as board members.

According to Eleanor Terrett and lawyer James K. Filan, the US Securities and Exchange Commission (SEC) and Ripple have submitted status reports to the Second Circuit Court of Appeals, requesting that the court continue to suspend the current appeal process, citing that the district court is still reviewing the relevant indicative ruling motion. Both parties agree that the SEC will submit the next status update before August 15, 2025.

Odaily Planet Daily News: RWA stablecoin protocol R2 announced that the first round of testing (Season 0) has officially ended on June 15th, attracting over 290000 users and more than 13 million on chain interactions. Vietnam, the United States, Indonesia and other regions have the highest user activity. R2 stated that the final test network will be launched on June 23rd, introducing core functions such as cross chain bridge (Wormhole), sR2USD automatic compound interest pledge, R2 Token application simulation, and full chain exit mechanism to further verify the integrity and composability of the protocol. R2 is building a global redeemable income based stablecoin infrastructure, backed by RWAs issued by licensed institutions such as Superstate, Ondo, and DigiFT. The mainnet is planned to be launched in Q3 2025.