Elon Musk crossed $1 trillion in personal wealth on Friday after SpaceX's Nasdaq debut, with his fortune listed at $1.11 trillion. The milestone places his net worth above the combined market capitalization of cryptocurrencies excluding Bitcoin, and roughly equal to half of the full crypto market when Bitcoin is included.

BlackRock's spot Bitcoin and Ethereum ETFs posted a combined net outflow of about $333.6 million over the past week. Most of the pressure came from iShares Bitcoin Trust (IBIT), which saw roughly $355 million leave over five days, even as late-week inflows on June 11 ($30.3 million) and June 12 ($57.7 million) signaled a partial rebound. BlackRock's spot Ethereum ETFs were steadier, with ETHA down about $7.2 million and ETHB up $28.6 million for a combined net inflow near $21.4 million.

A Bank of China survey found that 95% of overseas businesses expect to sustain or increase yuan use for cross-border settlements, with 34.5% anticipating growth and 61.4% expecting no change. The February poll covered 3,501 firms, and just 4.1% said their yuan settlement activity would decline. Willingness to hold yuan deposits rose to over 30%, a five-year high and 6.4% higher than last year.

Tether blacklisted Tron wallet TBzrPEsStbZAUx2SBhD4oHz8UW3FX9Ak9W at 07:37 UTC on 12 June 2026, freezing 72,030,295 USDT. The frozen address was tied to a connected wallet that received 120.2 million USDT on 11 June 2026 and later routed funds to KuCoin, instant exchanges, and bridges. ZachXBT also associated the same wallet cluster with Monero buy activity ahead of an XMR intraday high of $438 on 12 June.

SpaceX (SPCX) is set to list on Nasdaq on June 12 at a fixed $135 price, aiming to raise about $75 billion at a $1.75 trillion valuation. The order book was reported to be roughly 4x oversubscribed with about $250 billion of demand, a flow the author argues can drain liquidity from crypto and megacap tech. The piece also flags potential forced buying from Nasdaq-100 index funds estimated at $22B-$27B within weeks of the debut.

Public crypto token sales have brought in $58 million in Q2 2026, according to CryptoRank data published on June 10, representing an 85% decline from the prior quarter. April saw $15 million across 20 sales and May recorded about $41 million from 13 sales, the lowest monthly count since December 2020. June has so far logged four sales raising around $2 million, keeping the quarter on pace to be the weakest in five years.

Binance Research said in a June 12 analysis that crypto pre-IPO markets may grow as U.S. IPO fundraising is forecast to exceed US$225B, positioning 2026 for a record year. The report noted Binance's Pre-IPO Perps reached $2.5 billion in cumulative volume within 18 days and rely on stablecoin settlement, primarily USDT.

PayPal's PYUSD has retreated about 35% from its March peak of $4.20 billion, with market cap now at $2.47 billion including $1.80 billion on Ethereum. Over the same period, Circle executed a record $4.40 billion USDC transfer to the Coinbase Hyperliquid deployer and minted $750 million USDC on Solana in the past 24 hours, taking USDC's market cap to $74.78 billion.