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Binance to launch Binance fund recovery for the crypto industry

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Binance fund recovery

The head of the largest cryptocurrency exchange, Binance Changpeng Zhao, announced the launch of Binance fund recovery, which will help support cryptoprojects facing a liquidity crisis after the collapse of the cryptocurrency exchange FTX. He announced this on Twitter.

“To reduce the further cascading negative impact of FTX, Binance is forming a Binance crypto recovery fund to help projects that are experiencing a liquidity crisis. More details will emerge soon,” Zhao said, adding that relevant projects can contact Binance Labs, a division of the exchange’s venture capital fund.

In another tweet, Zhao also opened the door for any crypto investors willing to contribute to the fund.

“Also welcome other cash industry players who want to invest in the fund. Cryptocurrency is not going away. We’re still here. Let’s rebuild the industry,” he wrote.

New rules for the crypto industry

Zhao, commenting on the FTX bankruptcy, called for clear rules for the crypto industry to help it grow steadily and reliably. In his view, the crypto space needs new rules now more than ever for the industry to develop properly.

Zhao believes that the crypto world is going through a crisis right now that is similar to the financial crash of 2008. He predicted that FTX’s problems will lead to the bankruptcy of many companies in the next few weeks. Projects close to the FTX ecosystem will be hit the hardest.

Who else is affected

Now more cryptocurrency companies have begun to feel the effects of the FTX collapse. Earlier that week, the situation mainly affected FTX users who could not withdraw their funds from the exchange, and a lot of projects close to the company, in particular Solana. However, it is now clear that the number of affected projects will only grow.

For example, the BlockFi link platform suspended its withdrawal of funds. The company did not disclose the amount of its risk, but users suspect it of insolvency. Projects on the Solana blockchain also faced difficulties. In particular, ATMTA, the studio behind the Star Atlas game meta-universe on the Solana blockchain, reported that it lost half of its funds because of the FTX crash.

Earlier, we reported that FTX CEO Sam Bankman-Fried spoke about the state of the exchange.

Cryptocurrency

MORI COIN (MORI) Explodes by 300% in a Day: The New Crypto Sensation or a Downright Scam?

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TL;DR

  • The price of the Solana-based meme coin skyrocketed after drawing massive attention across social media platforms.
  • One trader turned $290 into $1.6 million but still holds the position – risky, as the valuation could crash just as fast. Moreover, the token lacks real utility, making the rally purely speculative.

The Impressive Jump

It’s a familiar sight in the meme coin sector: a token suddenly skyrocketing by double or even triple digits in a short period. Today’s best performer is the lesser-known MORI COIN (MORI), whose price has exploded by over 300% on a 24-hour scale, while its market capitalization has surged past $150 million.

MORI Price
MORI Price, Source: CoinGecko

The Solana-based asset is one of the top-trending cryptocurrencies on CoinGecko, and among the most talked-about on the social media platform X. Its rally is driven by considerable interest from traders.

Earlier today, Stalkchain estimated that MORI headed north due to a wave of fresh wallets that were “aggressively buying in.” 

While the meme coin’s rally is undoubtedly impressive, investors contemplating whether to jump on the bandwagon should keep some important notes in mind. For one, MORI was launched by a notorious Russian YouTuber (with over 3.2 million followers) who allegedly runs a massive Darknet marketplace.

That said, many X users labeled the asset as one of the biggest scams in the crypto space. David Crypto Scam Hunter supports that thesis, albeit suggesting that further gains in the future are not out of the question.

Besides its purported connection to a Dark Web marketplace, MORI lacks intrinsic value, and its price is driven purely by hype, speculation, and insider promotion. There’s also limited transparency regarding the token’s supply, developer wallets, or whale distributions. Its marketing strategy mirrors previous pump-and-dump schemes, which have caused crucial losses to investors in the past. 

Early Birds Make Fortunes

Scam or not, MORI (just like many other meme coin that recorded massive gains in its early days) allowed savvy traders to generate substantial profits.

The X account, DexCheck AI, revealed the case of one person (or entity) who turned $290 into $1.6 million by investing in the token. As of this writing, the wallet still holds the position. This is a risky move, as a potential crash could wipe out the paper profits entirely. However, MORI’s bull run might still be in its early stages, and the fortune could potentially grow even larger in the coming days.

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Cryptocurrency

Bitcoin Taps $109K While Arbitrum Explodes by 15%: Market Watch

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Bitcoin is starting the week with a test of the $108,000 level. The primary cryptocurrency also attempted to break above this level during the weekend but failed to do so.

Meanwhile, certain altcoins are charting notable gains, while the majority of the market is trading in the green.

Bitcoin Price Testing $108K

Bitcoin is seemingly attempting to break above the $108,000 level – something that it’s been trying to do for quite a while now. Unfortunately, at least up until this moment, the cryptocurrency has been unsuccessful in doing so. Today, however, it almost reached $109,000 before the sellers took the stage.

The most recent attempt comes amid news that the Japanese comapny MetaPlanet has made yet another Bitcoin buy worth some $108,000 and amid growing expectations that Michael’s Saylor’s Strategy will announce its own strategic purchase.

At the time of this writing, BTC’s price retraced to around $107,700 and it’s interesting to see if it will finally be able to break above this relatively narrow range that it’s been trading within for the past week.

BTCUSD_2025-06-30_12-34-02
Source: TradingView

Altcoins Mixed, ARB Rallies

Today’s heatmap is rather mixed with the majority of altcoins trading mostly flat. However, there’s an obvious exceeption to it all in the face of Arbitrum’s ARB token, that’s up 15% on the day. In fact, it soared by around 20% but has since retraced a little bit.

As CryptoPotato reported, the primary reason behind Arbitrum’s surge today is that there are some rumors that the popular retail-oriented trading app Robinhood might use the network to build its own protocol. Hours ago, the fintech comapny revealed that it will be conducting a fireside chat with Ethereum’s founder Vitalik Buterin and the CSO of Arbitrum’s Onchain Labs – A.J. Warner.

Other than ARB, the majority of other altcoins are trading relatively flat with PENGU, OP, and HYPE up by 3.5% in the past 24 hours – slightly ahead of the curve.

KAIA, Pi Network (PI), and Mantle (MNT), on the other hand, are the worst performers, down 6.1%, 5.4%, and 5.7%, respectively.

Screenshot 2025-06-30 at 12.59.10
Source: Quantify Crypto
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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Cryptocurrency

Why is the Arbitrum (ARB) Price up Today?

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TL;DR

  • ARB spiked to a two-week high following a combination of rumors and positive factors.
  • While some analysts believe it may rally even further in the short term, the RSI’s ratio of over 80 suggests an incoming pullback could be on the horizon.

The Top Performer

ARB, the native token of Arbitrum, has been the best-performing cryptocurrency from the top 100 club over the past 24 hours. Its price is up an impressive 20% for that timeframe, reaching $0.38 (per CoinGecko’s data).

ARB Price
ARB Price, Source: CoinGecko

Its market capitalization shot to almost $2 billion, thus flipping Official Trump (TRUMP), Render (RENDER), Filecoin (FIL), Algorand (ALGO), and other well-known altcoins. Currently, ARB is the 60th-largest cryptocurrency. 

The most likely reason for the uptrend is the rumor that Robinhood might team up with Arbitrum to build a blockchain platform that enables European investors to trade US stocks. Just a few hours ago, the fintech company revealed it will conduct a “fireside chat” with Ethereum’s founder Vitalik Buterin and A.J. Warner (CSO of Onchain Labs – an entity that stands behind Arbitrum).

Another factor that may have positively impacted ARB’s valuation is the further support coming from Binance. The world’s leading crypto exchange recently announced it will add the trading pair ARB/USDC to its Trading Bots section, although this one is more on the speculative side and not as likely to have fueled any meaningful price change.

More Gains on the Way?

ARB’s surge has garnered attention across the cryptocurrency industry, with several analysts suggesting it may signal the start of a significant bullish trend. One X user envisioned a potential breakout of a certain trendline, which could send the price to $0.50 and beyond. 

Crypto TA King thinks “ARB looks amazing” at its current levels, saying they will “take entry” if the valuation drops to the $0.32-$0.34 range. 

Despite the prevailing optimism, investors should exercise caution because the token’s Relative Strength Index (RSI) has spiked above 80. This is generally viewed as bearish territory, as it indicates that the price has increased too rapidly in a short period and may be poised for a short-term correction.

ARB RSI
ARB RSI, Source: CryptoWaves

 

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