Market on pause, Meta creates a competitor to Polymarket, and senators attack Trump's crypto project: digest for June 24
The morning of June 24 finds the crypto market in a state of sideways drift. Bitcoin (BTC) is consolidating near the $62,688 mark, showing a 24-hour low of $61,893 and a high of $63,652. Ether (ETH) is also showing no volatility, trading around $1,667. The overall picture suggests a wait-and-see stance among major players ahead of a potential move.
Top 10: Correction Without Panic
With the exception of Tron, which rose 3.75% over the week, and the stablecoin USDC, all coins in the top ten by market capitalization are showing declines both over the past 24 hours and over seven days. Hyperliquid is suffering the largest losses, dropping 7.87% in a day and 18.04% over the week. In the top 100, the leader in daily growth was Audiera (+33.81%), and for the week, DeXe (+28.02%). The worst result, both over 24 hours (-14.41%) and over seven days (-24.28%), was recorded by Worldcoin. This indicates a continued outflow of speculative capital from high-risk assets.
Meta Enters the Prediction Market
Mark Zuckerberg has instructed the development team to create its own application for prediction markets called Arena. The key difference from competitors like Polymarket and Kalshi is that bets will be placed not with real money, but with in-game points. This is a strategic move: Meta's app audience is 3.56 billion daily users. Even if Arena is positioned as an "experiment," such reach could fundamentally change the landscape of the prediction industry. For the crypto community, this is a signal that Web2 giants are starting to seriously eye decentralized financial mechanics, adapting them to their own ecosystems.
Reconciliation of Giants: CEA Industries and YZi Labs
The corporate conflict between CEA Industries (a company with a crypto reserve in BNB) and its largest shareholder, YZi Labs, has been resolved. The parties have reached a settlement: the CEA board of directors will include 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. YZi Labs, in turn, will cease its fight for control of the board of directors. The dispute had been ongoing since late 2025, when YZi attempted a takeover, accusing CEA of ineffective management. Following the news, CEA shares jumped 8.35%, although they have lost nearly 65% since the beginning of the year.
Senators vs. Trump: A New Round of Investigation
A group of Democratic senators has demanded that the Republican Senate leadership hold 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 WSJ 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 deal with the UAE for the supply of weapons and AI chips, despite concerns that China could gain access to them. Democrats are demanding that administration officials testify under oath about the possible influence of the investment on the president's decisions. Trump himself stated that he was not aware of the deal. This case is becoming a serious test of transparency for the entire industry, especially in the context of political influence.
My conclusion: The market is frozen, awaiting a trigger. Bitcoin's consolidation at current levels could be followed by either a sharp surge or a deep correction. External factors—from regulatory attacks to the entry of giants like Meta—will exert increasing pressure on short-term dynamics.