Morning crypto market digest: Meta launches forecasts, senators oppose Trump, and CEA Industries reconciles with YZi Labs
The market opens sideways, but intrigue is building. Meta is preparing an app for prediction betting, Senate Democrats are demanding an investigation into the World Liberty Financial deal, and the corporate conflict between CEA Industries and YZi Labs has finally been resolved. We break down the key events of the morning of June 24.
Top Asset Dynamics: BTC and ETH in a Lull
Bitcoin (BTC) started the day with minimal changes. As of 07:49 Moscow time, the asset is trading around $62,688 (approximately 4,669,433 rubles). Over the past 24 hours, the price range has been from $61,893 to $63,652 — a classic sideways trend without a clear impulse.
The second-largest cryptocurrency by market cap, Ethereum, is also showing a flat trend: the price is fixed at $1,667 (approximately 124,169 rubles).
In the top 10 by market cap, the picture is mixed. Over the past day and week, almost all coins, except for Tron (+3.75% over the week) and the stablecoin USDC, are in the red zone. Hyperliquid shows the largest losses for the day (-7.87%) and the week (-18.04%). In the top 100, the day's growth leader is Audiera (+33.81%), and the week's leader is DeXe (+28.02%). The worst result over both periods belongs to Worldcoin: -14.41% in 24 hours and -24.28% over seven days.
Meta Enters the Prediction Market
Mark Zuckerberg has tasked a development team with creating a prediction market app called Arena. According to sources, a key feature is that bets will be placed not with real money, but with in-game points. The app will operate independently of Facebook and Instagram, which are blocked in Russia. Given that Meta's apps have a daily audience of 3.56 billion users, the project has enormous potential to compete with platforms like Kalshi and Polymarket. This is indeed an experimental but strategically important step for the company.
Senate Democrats Demand Hearings on Trump Deal
A group of Democratic senators has appealed to the Republican Senate leadership, demanding hearings on the $500 million deal between the Trump family's crypto project World Liberty Financial and an investment company from Abu Dhabi. According to data, a structure linked to the UAE's national security advisor acquired 49% of World Liberty Financial in January 2025. Later, the Trump administration concluded a major arms and chip supply deal with the UAE, despite concerns about China's access to them. Democrats are demanding that administration officials testify under oath about the possible influence of this investment on the president's decisions. Trump stated he was not aware of the deal.
Corporate Truce: CEA Industries and YZi Labs
CEA Industries, which holds a crypto reserve in BNB, has entered into a cooperation agreement with its largest shareholder, YZi Labs. Joining the CEA board of directors will be YZi Labs head Ella Zhang, investment partner Alex Odagiu, and Bloq co-founder Matthew Roszak. Odagiu will also serve as interim president of the company while it searches for a new CEO. In turn, YZi Labs will cease its fight for control of the board of directors. The conflict had been ongoing since late 2024. CEA shares rose 8.35% on the news, but they have lost nearly 65% since the start of the year. The peaceful resolution is a positive signal, but restoring investor confidence will take time.
My Comment: Meta's entry into the prediction market is a potential "black swan" for Polymarket and Kalshi. A massive user base and the absence of financial risk for players (point-based bets) could redefine the rules of the game. As for the situation with Trump, Democratic pressure is intensifying, and if hearings take place, it could create additional volatility for tokens associated with his project.