Morning Report | OpenAI has submitted an S-1 registration statement draft to the U.S. SEC; Morpho completes $175 million financing
Compiled by: ChainCatcher
Important News:
- Humanity founder confirms security incident, claims it involves the leak of a foundation member's private key
- OpenAI has secretly submitted an S-1 registration statement draft to the U.S. SEC
- Circle: cirBTC has launched on Ethereum, providing 1:1 Bitcoin-backed collateral for institutional DeFi
- Crypto financial infrastructure company Morpho completes $175 million financing, led by a16z Crypto and Paradigm
- TON token will be renamed to Gram on June 15, with the code changing to GRAM
- Zhao Changpeng: Bitcoin will not "die" for too long
What important events have occurred in the past 24 hours?
TON token will be renamed to Gram on June 15, with the code changing to GRAM
According to ChainCatcher, the voting on TON Vote by The Open Network community has concluded. The results show that 81.22% of participants voted in favor of renaming the network's native token from Toncoin to Gram, while the token code will also change from TON to GRAM.
This change will officially take effect on June 15, 2026, at 20:00 (UTC+8). The blockchain itself will remain The Open Network; only the token name, code, and icon will change.
No action is required from users for this adjustment, and there will be no token exchange, cross-chain bridging, claiming, or migration processes. Users' balances, addresses, smart contracts, NFTs, staked assets, and DeFi positions will remain completely unchanged.
Voting opened on June 1, 2026, and ended on June 8. All ecosystem projects, including trading platforms, are expected to complete updates synchronously by 20:00 (UTC+8) and achieve consistency across the entire ecosystem by June 22, 2026.
Zhao Changpeng: Bitcoin will not "die" for too long
According to ChainCatcher, Zhao Changpeng posted on the X platform stating: "Bitcoin will not 'die' for too long. Don't panic."
Crypto financial infrastructure company Morpho completes $175 million financing, led by a16z Crypto and Paradigm
According to ChainCatcher, Morpho, a DeFi lending protocol, has completed a $175 million financing at a valuation of $2 billion, led by a16z crypto, Paradigm, and Ribbit Capital, with participation from Apollo Funds, Circle Ventures, VanEck, IOSG Ventures, Variant, and others.
Morpho allows institutions to customize on-chain lending markets and risk parameters, and has attracted users such as Coinbase, Kraken, Anchorage Digital, and Galaxy Digital. The protocol currently has approximately $6.6 billion locked and is accelerating competition with traditional DeFi lending protocols like Aave, planning to further expand into high-yield DeFi asset allocations sought by traditional financial institutions.
OpenAI has secretly submitted an S-1 registration statement draft to the U.S. SEC
According to ChainCatcher, OpenAI announced that it has recently submitted a draft S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) in secret. OpenAI stated that it anticipated this news might leak, hence the decision to proactively disclose it. It has not yet decided on a specific listing time, which may still take some time, as some matters may be easier to advance as a private company.
OpenAI stated that this is a complex balancing process, and submitting a secret S-1 draft will preserve the option for the company to go public earlier, provided that it believes going public is the best choice in the future. The announcement also stated that the statement is issued under Section 135 of the revised Securities Act of 1933, does not constitute an offer to sell securities, nor does it constitute a solicitation of an offer to purchase any securities. Any securities issuance, solicitation of purchase offers, or sales actions will be conducted in accordance with the registration requirements of the Securities Act.
Humanity founder confirms security incident, claims it involves the leak of a foundation member's private key
According to ChainCatcher, Terence Kwok, the founder of Humanity Protocol, confirmed a security incident on the X platform, stating that it involves the leak of a private key belonging to a Humanity foundation member. For safety reasons, users are advised not to interact with cross-chain bridges or any liquidity pools until safety is confirmed. The team is working with security experts and exchange partners to resolve the issue.
Previously, it was reported that addresses associated with Humanity Protocol had been hacked for over $31 million.
Binance Research: RWA market size has grown by approximately 589% since early 2025, and cryptocurrency card transaction volume continues to rise
According to ChainCatcher, Binance Research stated in its June market report that the RWA market size has grown by approximately 589% from early 2025 to June 2026. Among them, the size of bond and money market funds increased by approximately $6.5 billion, a year-on-year growth of 83%; publicly traded stock RWA grew by approximately 422%. The report also noted that the monthly transaction volume of cryptocurrency cards exceeded $747 million in May, a 48.6% increase year-to-date, significantly higher than the 3.2% increase in stablecoin supply during the same period.
Bloomberg: Crypto industry growth decouples from Bitcoin price, institutions focus on long-term infrastructure and practical scenarios
According to ChainCatcher, Bloomberg reported that Bitcoin fell below $60,000 last week, with a market cap evaporating by approximately $235 billion within seven days, nearly halving from last year's peak. The market cap of altcoins shrank from a peak of $431 billion in November 2021 to about $170 billion, with less than 1,700 of the tens of millions of tokens created in recent years still having substantial trading activity. However, in stark contrast to the price trend, the most commercially valuable businesses in the crypto industry are accelerating growth.
The annual transaction volume of stablecoins reached approximately $390 billion, with total transaction volume soaring 72% to $33 trillion by 2025. Over $30 billion in assets have been tokenized, with BlackRock's tokenized money market fund BUIDL reaching $2.4 billion in assets. Visa and Mastercard are expanding stablecoin settlement capabilities, while Nasdaq collaborates with Kraken to offer tokenized stocks.
Bloomberg Intelligence's Mike McGlone stated that the most important technology is stablecoins; when you have stablecoins, you don't need XRP or Bitcoin to store value. We are experiencing a cleansing, and this is just the beginning. EMJ Capital founder Eric Jackson pointed out that "the Bitcoin price chart used to be the entire crypto story, but that is no longer the case."
Foreign capital is aggressively selling off the South Korean stock market, having sold $75 billion this year
According to ChainCatcher, The Kobeissi Letter reported that global investors are selling South Korean stocks at an unprecedented rate. On Monday, foreign capital sold another $801 million in Kospi component stocks, with a total outflow of $10 billion last week, and every trading day over the past month has shown a net selling trend.
According to Goldman Sachs data, foreign capital has sold a total of $75 billion in South Korean stocks this year. In stark contrast, local retail and institutional investors in South Korea have net bought $69 billion during the same period.
Circle: cirBTC has launched on Ethereum, providing 1:1 Bitcoin-backed collateral for institutional DeFi
According to ChainCatcher, Circle announced that cirBTC has launched on Ethereum, providing 1:1 Bitcoin-backed collateral for the institutional DeFi market. cirBTC is backed by native BTC held in custody by Circle at a 1:1 ratio, providing on-chain reserve transparency through Chainlink reserve proofs.
cirBTC can be integrated into Circle Mint for minting and redemption, and operates a unified model of dollar liquidity and Bitcoin collateral with USDC. In the future, cirBTC will also expand to multi-chain through Arc.
Analysis: Michael Saylor's preferred stock financing model may lead Strategy into a "death spiral"
According to ChainCatcher, Fortune magazine analyzed that despite Bitcoin's recent decline dragging down Strategy (MSTR) stock prices, the company's current market value still has a premium of about 31% over its underlying net asset value.
The analysis suggests that this premium stems from the market's past recognition of Michael Saylor's "Bitcoin appreciation flywheel" model, but as this model becomes ineffective, the related premium faces further compression risks.
Arthur Hayes: AI is siphoning off crypto liquidity, may tactically short through derivatives
According to ChainCatcher, BitMEX co-founder Arthur Hayes stated that all marginal funds are currently flowing into AI stocks, and when AI stocks drop rapidly, investors are unable to buy even if they see cryptocurrencies performing relatively strongly.
Hayes has already liquidated $HYPE, $NEAR, and $WLD, and has liquidated $ZEC due to the Orchard Pool vulnerability. He emphasized that capital preservation is more important than appreciation, currently holding only Bitcoin and Ethereum, and stated that ETH "is still usable even if dead."
He believes that the bursting of the AI bubble will trigger a financial crisis and lead to "massive money printing," at which point Bitcoin will first plummet and then surge. He plans to hold positions through the volatility period and may engage in a small tactical short through derivatives.
U.S. House Ways and Means Committee introduces six crypto tax bills, focusing on mining, staking, and reporting rules
According to ChainCatcher, crypto journalist Eleanor Terrett reported that the U.S. House Ways and Means Committee held a crypto tax hearing at 2 PM local time, introducing six separate bills and a discussion draft before the meeting. The six bills cover crypto donations, mining and staking taxation, reporting requirements, equal tax treatment, voluntary disclosure, and applying existing anti-abuse tax rules to digital assets; the discussion draft addresses offshore crypto tax avoidance.
The committee stated that the above bills aim to create clarity, fairness, and operability for digital assets and maintain the U.S. position as a global crypto hub. Witnesses at the hearing included representatives from Fidelity, Coinbase, Coin Center, and NYU's Tax Law Center.
SAHARA falls 59.5% in 24 hours, team claims no security issues with token contracts and products
According to ChainCatcher, Sahara AI posted on the X platform stating that the team has noticed unusual fluctuations in the SAHARA token market and is monitoring it in real-time. There are no security issues with the token contracts and products, and the team has initiated an internal investigation to understand the cause of the fluctuations and will provide further updates as soon as possible.
Coingecko data shows that the SAHARA token has dropped 59.5% in the past 24 hours, currently priced at $0.01549.
Meme Popularity Rankings
According to data from the meme token tracking and analysis platform GMGN, as of June 10, 09:00,
The top five popular tokens on ETH in the past 24 hours are: HEX, SHIB, LINK, PEPE, mUSD
The top five popular tokens on Solana in the past 24 hours are: TROLL, swarms, WORLDCUP, neet, Buttcoin
The top five popular tokens on Base in the past 24 hours are: PEPE, toby, ELSA, SKI, cbETH
What are some noteworthy articles to read in the past 24 hours?
Wang Chuan: How can we not feel anxious when the neighbor Wang made thirty times on storage stocks (Part 7) - A quarter-century cycle
A deep analysis of the "reflexivity" bubble trap in storage stocks: Beware of the bullwhip effect backlash and false high-growth narratives, and do not let the short-term myth of wealth turn into a wealth abyss that cannot be recovered for 25 years.
$75 billion foreign capital outflow, South Korean retail investors leveraged to absorb it all
Last Sunday, Nvidia CEO Jensen Huang flew to Seoul to have dinner with SK Group Chairman Chey Tae-won and SK Hynix CEO Lee Seok-hee. After dinner, Nvidia and SK Hynix officially announced a multi-year technology cooperation agreement, with Huang publicly stating that AI company stock prices are currently very low, and the shortage of storage chips will continue for several years.
However, the next day, Monday's opening saw KOSPI quickly drop over 8.8%, with Samsung Electronics plunging 10% at one point, and SK Hynix falling nearly 10%, triggering a trading halt on the Korean exchange, marking the largest single-day drop since this bull market began.
South Korean President Lee Jae-myung stated that the South Korean stock market is still undervalued. At today's close, KOSPI surged 8.18%, with SK Hynix rebounding 15.91% in a single day, and Samsung Electronics rising 8.97%.
You may also like
SK Hynix Reportedly Plans U.S. ADR Listing as Early as August, With SEC Approval Possible in Late June
SK Hynix may pursue a U.S. ADR listing as early as August, with SEC approval reportedly possible in late June amid strong AI chip supply chain demand.
SpaceX vs Tesla vs xAI: Which Elon Musk Trade Has the Biggest Upside in 2026?
OpenAI Reveals It Has Confidentially Submitted an S-1 to the SEC, Keeping the Door Open for a Future IPO
On June 9, according to an OpenAI announcement, the company recently confidentially submitted a draft S-1 registration statement to the U.S. Securities and Exchange Commission (SEC), beginning the preliminary compliance process for a potential initial public offering. OpenAI said it chose to disclose this proactively because it expected the news might leak; however, the company has not yet set a specific listing timeline, and related arrangements may still take some time.
Latest research from 13 top universities including Cornell University: The current state, challenges, and misconceptions of the fusion of Crypto and AI
Deconstructing Anthropic: The Best AI Company, Possibly Also a Type of Organizational Invention
Apollo and Blackstone Reportedly Back $35 Billion Anthropic Chip Financing as Deal Details Remain Unclear
On June 9, according to currently available news alerts, Apollo and Blackstone Group participated in a $35 billion financing for an Anthropic “chip project.” Based on the original wording of the report, the funding has already been raised, but public information remains limited. The financing structure, use of proceeds, project entity, and whether Apollo and Blackstone participated through equity, debt, or project financing have not yet been disclosed.
Humanity Protocol Security Incident Escalates: More Than $31 Million Stolen From Related Addresses as Attacker Continues Selling H for ETH
On June 9, according to monitoring by Onchain Lens, more than $31 million has been stolen from addresses linked to Humanity Protocol, and the attack is still ongoing, with the hacker continuously swapping H tokens for ETH. Project founder Terence Kwok later confirmed the security incident on X, saying the issue involved a private key leak.
Bloomberg: As Bitcoin Weakens, Stablecoins and RWA Continue to Drive Expansion in Crypto Businesses
In June, Bloomberg reported that despite Bitcoin falling below $60,000 last week, wiping out about $235 billion in market value within seven days, and dropping close to 50% from last year’s peak, some core businesses in the crypto industry are still expanding, mainly in stablecoins, real-world asset tokenization (RWA), payments, and infrastructure. The report also noted that overall altcoin activity has contracted significantly: altcoin market capitalization has fallen from a peak of about $431 billion in November 2021 to around $170 billion, and among the tens of millions of tokens issued in recent years, fewer than 1,700 still maintain meaningful trading activity.
Galaxy Deep Research Report: How Hyperliquid's HIP-4 Upgrade Changes the Landscape of Prediction Markets?
Binance Research: RWA Market Expected to Expand Nearly 6x from Early 2025, with Public Equities and Onchain Payments Heating Up Together
In June, Binance Research said in its monthly market report that the real-world asset (RWA) market is expected to grow by about 589% from the beginning of 2025. Bond- and money market fund-related RWA expanded by about $6.5 billion, up 83% year over year, while publicly traded equity RWAs grew by about 422%. The report also noted that monthly crypto debit card transaction volume exceeded $747 million in May, up 48.6% year to date.
Japan to Assess a Framework for Yen Stablecoins and Crypto ETFs as Asia’s Compliant Payments Narrative Heats Up
Recently, according to the original report, Japan is considering the launch of yen stablecoins and cryptocurrency ETFs. Public information remains limited at this stage, and there is still no complete policy text, regulatory draft, or clear implementation timeline, so this is better characterized as a “policy discussion” rather than formal implementation. The original wording also noted that advancing stablecoin regulation in Asia is driving XRP usage and supporting growth in the XRPL ecosystem. However, based on currently available public information, there is not enough evidence to directly establish a clear causal relationship between this round of discussion in Japan and XRP or XRPL.
ZachXBT: Humanity private key leak and abnormal surge in H token should be viewed separately
On June 9, according to related disclosures, on-chain investigator ZachXBT posted an update on Humanity’s roughly $31 million security incident, saying that after further analyzing fund flows, he currently tends to believe the project team was not involved in an “inside job” or a self-staged attack. According to him, the official explanation about the private key leak was broadly accurate, but before the token unlock, the price of H had been artificially pushed higher, and the hacker later took advantage of that market environment; therefore, the private key leak and the earlier abnormal price pumping should be regarded as two separate and independent events. This reframing has shifted the market’s understanding of the nature of the incident. Earlier discussion around Humanity had focused on whether the team directly participated in the attack or used the security incident to cover up internal operations. ZachXBT’s latest remarks shift the focus from “whether it was self-theft” to “whether there were pre-unlock market structure issues.” He also questioned whether the team may have.
Morning Report | BitMine increased its holdings by 126,971 ETH last week; trader Eugene announced his exit from the crypto market
Wang Chuan: How can one not feel anxious after the neighbor Old Wang made thirty times profit by investing in storage stocks? (Seven) - A quarter-century cycle
Cryptocurrency CEXs are flocking to sell US stocks, and traditional brokerages are facing an "uninvited guest."
$75 billion in foreign capital has fled, and South Korean retail investors have absorbed it all using leverage
Japan’s Three Megabanks Plan Joint Stablecoin Issuance in Fiscal 2026
MUFG, SMBC, and Mizuho reportedly plan to jointly issue fiat-pegged stablecoins in fiscal 2026, signaling Japan’s growing push into bank-led digital payment infrastructure.
Humanity Discloses H Token Dual-Chain Attack Details, With Losses on Ethereum and BSC Exceeding $36 Million
Humanity said the H token attack across Ethereum and BSC caused more than $36 million in losses after leaked ProxyAdmin keys enabled malicious contract upgrades and token minting.
SK Hynix Reportedly Plans U.S. ADR Listing as Early as August, With SEC Approval Possible in Late June
SK Hynix may pursue a U.S. ADR listing as early as August, with SEC approval reportedly possible in late June amid strong AI chip supply chain demand.
SpaceX vs Tesla vs xAI: Which Elon Musk Trade Has the Biggest Upside in 2026?
OpenAI Reveals It Has Confidentially Submitted an S-1 to the SEC, Keeping the Door Open for a Future IPO
On June 9, according to an OpenAI announcement, the company recently confidentially submitted a draft S-1 registration statement to the U.S. Securities and Exchange Commission (SEC), beginning the preliminary compliance process for a potential initial public offering. OpenAI said it chose to disclose this proactively because it expected the news might leak; however, the company has not yet set a specific listing timeline, and related arrangements may still take some time.
Latest research from 13 top universities including Cornell University: The current state, challenges, and misconceptions of the fusion of Crypto and AI
Deconstructing Anthropic: The Best AI Company, Possibly Also a Type of Organizational Invention
Apollo and Blackstone Reportedly Back $35 Billion Anthropic Chip Financing as Deal Details Remain Unclear
On June 9, according to currently available news alerts, Apollo and Blackstone Group participated in a $35 billion financing for an Anthropic “chip project.” Based on the original wording of the report, the funding has already been raised, but public information remains limited. The financing structure, use of proceeds, project entity, and whether Apollo and Blackstone participated through equity, debt, or project financing have not yet been disclosed.
