SoSo Daily Jun 29 | Cathie Wood: Bitcoin holders may be able to transfer their BTC to Coinbase to secure a mortgage for buying a house.

After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 06:00 on June 29, 2025, according to sosovalue, the top five gainers are:
Top 1 gainer is XOCIETY (XO). As of 06:00 today, its market cap is 4.24M USD, with a coin price of 0.0080060 USD, witnessing a 24-hour increase of 57.2%.
The second is Multichain (MULTI). As of 06:00 today, its coin price is 0.74260 USD, with a 24-hour increase of 46.3%.
The third is Everscale (EVER). As of 06:00 today, its coin price is 0.013478 USD, showing a 24-hour increase of 40.1%.
In fourth place is Zircuit (ZRC). As of 06:00 today, its coin price is 0.027290 USD, with a 24-hour rise of 36.9%.
In fifth place is Blockchain Brawlers (BRWL). As of 06:00 today, its coin price is 0.00085990 USD, increasing by 32.8% over the last 24 hours.


Moving on, let's take a look at the sector performance in crypto market.
Acccording to sosovalue, out of 16 sectors, all are up. Notably, NFT, AI, and DePIN sectors are worth mentioning.
NFT sector has risen 5.22% relative to the UTC 0 time, led by gains in RARI (31%), PENGU (15.4%), and OGN (11%).
AI sector has increased 2.68% relative to UTC 0, with ALI (14.8%), COMAI (14.6%), and SAHARA (11.7%) leading the rise.
DePIN sector has risen 2.67%, with NODL (25.2%), DMC (22.3%), and LPT (19.8%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:ARK Invest CEO Cathie Wood tweeted that Bitcoin holders' net worth is mostly concentrated in Cryptocurrency, making it difficult to obtain mortgage loans for a long time. She said that she would not be surprised if these holders transferred some of their Bitcoin to Coinbase as collateral to buy new homes that were previously unaffordable. [Wu Shuo]
Next news:The official Resupply protocol team has launched a remedial action proposal in the community to address the 10,000,000 ReUSD bad debt issue encountered earlier this week. The proposal outlines a set of governance actions aimed at eliminating the protocol's bad debt and providing retention rewards for affected users. The first phase of measures includes burning 6,000,000 ReUSD of bad debt through the insurance pool, accounting for 15.5% of the 38,700,000 reUSD in the insurance pool, and repaying the remaining $1,131,168 of bad debt through a mix of future revenue streams. At the same time, the proposal also includes shortening the voting time to speed up the decision-making process and providing an IP retention plan for insurance pool depositors, incentivizing them to stay in the insurance pool through additional RSUP tokens. [ChainCatcher]
Next news:According to on-chain detective ZachXBT, a user was allegedly attacked by the North Korean hacking group Lazarus Group on May 16, losing approximately $3.20 million in assets. The stolen assets were sold on the market, and the stolen funds were subsequently cross-chained from Solana to Ethereum. On June 25, 400 $ETH were deposited into Tornado Cash; on June 27, 400 $ETH were deposited into Tornado Cash. [Foresight News]
Next news:On June 29, Cointelegraph reported that a new report from venture capital firm Breed shows that Bitcoin reserve companies have become a major trend in 2025, but only a few experienced and disciplined companies are expected to survive future market volatility. The report notes that many Bitcoin treasury companies may fall into a "death spiral," especially those whose stock prices are close to net asset value (NAV). Breed's report details the seven stages of decline for Bitcoin reserve companies: starting with a decline in Bitcoin prices, leading to a decrease in the multiple of net asset value (MNAV), which in turn makes it difficult for companies to obtain debt and equity financing. As credit dries up and debt matures, margin calls will force companies to sell Bitcoin, further depressing market prices and potentially triggering industry consolidation or even a prolonged market downturn. The report emphasizes that only a few companies can sustain MNAV premiums and achieve per-share Bitcoin growth through strong leadership, rigorous execution, savvy marketing, and unique strategies. Currently, most companies use equity rather than debt financing to purchase Bitcoin, which may limit the overall market impact, but the situation could worsen if debt financing becomes mainstream. [深潮 TechFlow]
Next news:According to Cointelegraph on June 29, Crossmint is partnering with Visa to enable AI-powered on-chain payments using tokenized credentials. [深潮 TechFlow]
Next news:Ethereum co-founder Vitalik Buterin has warned that World, the digital identity project backed by Sam Altman, could threaten the online pseudonym system. Vitalik stated that while World uses zero-knowledge proof technology to protect privacy, its "one ID per person" design could lead to all user activity being tied to a single public identity, weakening anonymity protection. He suggested adopting a "diversified identity model" to avoid a single institution controlling the identity system. (TheBlock)
Next news:OneKey founder Yishi spoke out again on the "Curve ecosystem DeFi protocol Re­sup­ply hack report and remedial measures," angrily criticizing the protocol's irresponsibility and banditry.
He stated: "So far, I haven't seen any alarms or actions to track down the hackers from resupply. They haven't even bothered to put on a show of asking the hackers to return the stolen money. Instead, they've directly targeted the victimized users. Their first reaction to being rug pulled was to directly reach into users' pockets to take money, extend the unlocking period, and prevent withdrawals. The community is full of insults, kicking people out, banning people, and racial discrimination... After playing DeFi for so many years, this is truly an eye-opener. Well done."
SlowMist founder Yu Xian added: "The project team is the first in history that I know of to not make any announcements or offer a bounty. If I were the attacker, I would also be dumbfounded... Why hasn't the project team made a statement yet? Should I be a black hat hacker or a white hat?"
Previous news stated that Resupply claimed that the hack caused approximately $10.000 million in reUSD bad debt, and the stolen funds are still on the blockchain. [Odaily星球日报]
Next news:According to @EmberCN's monitoring, the a16z address transferred another 100,000 COMP (approximately $4.58 million USD) to Coinbase Prime 8 hours ago. The a16z address has cumulatively transferred 400,000 COMP to Coinbase Prime in the past 21 hours, worth approximately $18.33 million USD, accounting for 4% of the total COMP supply. After the transfer, the address still holds 400,000 COMP on-chain. [Wu Shuo]
Next news:On June 29th, the American magazine *Time* announced its 2025 list of the "100 Most Influential Companies in the World," with Coinbase successfully making the list. *Time* wrote: "Since last fall, the revenue of Coinbase, the largest Cryptocurrency exchange in the United States, has soared to over $2.0 billion. Thanks to the surge in Cryptocurrency enthusiasm following President Trump's election victory, traders and investors have flocked to the platform. During that election, Coinbase led a large-scale lobbying campaign to help make Cryptocurrency a voting issue. Today, the company became the first Cryptocurrency stock to be included in the S&P 500 index in May and has become a key driver of cryptocurrency industry policy efforts in Washington, D.C. If legislation favorable to the industry is passed, Coinbase will become an even larger center of Cryptocurrency activity in the United States. However, Coinbase is not without its problems: well-known blockchain investigators have accused Coinbase of failing to address security vulnerabilities, resulting in users losing hundreds of millions of dollars annually due to fraud. The Securities and Exchange Commission (SEC) is reportedly investigating whether the company misrepresented the number of users in past disclosures. Nevertheless, Coinbase is seeking to expand and spent $2.9 billion in May to acquire Deribit, a Dubai-based Cryptocurrency derivatives exchange." [深潮 TechFlow]
Next news:The governance DAO of Lido, Ethereum's largest liquid staking protocol that currently manages over a quarter of all staked $ETH, is set to give its stakers the ability to delay or veto governance decisions following a near-unanimous vote.

The dual governance system is intended to safeguard against a scenario where Lido's LDO token holders, who are the only ones allowed to create and vote in favor of governance proposals for the Lido DAO, attempt to vote in a proposal that would negatively affect Lido's stakers or Ethereum itself.

In the new paradigm, Lido stakers (those who hold stETH tokens) will be able to register dissent against DAO proposals by depositing stETH into an escrow contract. If at least 1% of Lido’s total staked $ETH is deposited in the escrow by dissenting stETH holders, the proposal is delayed for an initial period of 5 days, with the time delay increasing as more stETH tokens are deposited.

If 10% of the total stETH supply is locked, the proposal is frozen and the protocol enters a Rage-Quit state—no new proposals can execute until dissenting stakers have fully withdrawn or the DAO drops the measure.

The unique structure, which has been discussed for years, grants stakers the ability to object to controversial proposals, and gives them enough time to rally support for the cause. Lido called the vote "one of the most important protocol upgrades across the Lido ecosystem" in a post on X.

The main phase of voting for the proposal ended with 53.6 million LDO tokens voting in favor, narrowly surpassing the 50 million LDO needed for quorum, and just 1.18 LDO opposed, from a single dissenter. Turnout was in line with previous Lido DAO ballots, which often clear the 50 million-token quorum by only a few million despite near-unanimous support. Barring a massive last-minute organized opposition to the vote during the "objection" phase, which only allows LDO holders to either vote "No" or change their vote from "Yes" to "No," the vote will finalize on June 30 at 10:00 EDT.

"Dual governance isn't perfect, but it solves important problems," Ethereum co-founder Vitalik Buterin wrote on X. Buterin said the structure serves as an extra independent layer against "particularly harmful actions," and also explicitly allows Ethereum stakers to serve as stakeholders in the Lido ecosystem.

The price of LDO has risen about 3.5% in the past 24 hours, according to The Block's LDO Price page, compared to a 0.8% gain in the price of ETH. About 25.7% of staked $ETH is staked with Lido, according to a Dune dashboard.

Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.com, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.