Coinbase Opens IPOs to Retail Starting with OURA

Coinbase is prying open IPO share allocations for eligible U.S. retail customers through its app, letting users request stock at the offering price before public trading starts. Smart-ring maker Oura goes first, planning a Nasdaq listing under OURA with 50 million shares priced between $40 and $44 each.

The rollout lands this week because Oura's high-profile debut coincided with Coinbase Capital Markets winning regulatory approval to participate in IPOs. A spokesperson framed it as the next step in building the Everything Exchange, giving U.S. users an early seat at buzzy listings before shares ever reach an exchange.

Customers pick an offering in the app, fund their accounts, complete a FINRA restricted-status questionnaire and submit a Conditional Offer to Buy once the price range posts. Orders stay editable while the book is open, but fills may be full, partial or rejected depending on demand and underwriter supply.

Flippers pay a price, as selling allocated shares within 30 days can trigger a 60-day ban from future IPOs, with repeat offenders receiving smaller and rarer allocations. IPO access joins a widening non-crypto menu, after Coinbase filed for U.S. perpetuals on Apple, Tesla and Nvidia and launched tokenized stocks abroad.

Binance Takes $100 Million Circle Stake Under USDC Deal

Binance bought 1,237,011 Circle Class A shares at $80.84 each in a $100 million private placement, according to an SEC 8-K filing. The equity sale closed alongside a new five-year agreement under which Circle pays Binance a monthly incentive fee tied to USDC held through its Modular Smart Contract Wallet.

Binance cannot sell, transfer or hedge the shares for two years, though it keeps voting rights, and the pact replaces earlier deals signed in 2024 and 2025. Circle is simultaneously widening its footprint, having launched its Arc Layer 1 mainnet last week with BlackRock, DTCC, Visa and Mastercard among validators.

ZetaChain Holders Back Solana Migration With 99.4% Vote

ZetaChain token holders approved Proposal 68 with 99.4% support on 58% turnout, voting to shut down the Cosmos SDK Layer 1 that raised $27 million in 2023. ZETA will migrate one-for-one to a native Solana SPL token, keeping its ticker, total supply and existing vesting schedules intact.

Developers want to focus on Anuma, an AI app claiming over 300,000 users, and cite the burden of coordinating Cosmos security patches across dozens of validators. No shutdown date exists yet, as a second proposal setting the snapshot and final block will wait until exchanges confirm swap arrangements.

ECB's MiCA Response Targets Indirect Stablecoin Yields

The ECB and EU national central banks used a 57-page response to the European Commission's MiCA review to demand a wider ban on indirect stablecoin returns. They want crypto platforms barred from lending, borrowing and staking products that turn e-money into savings tools, arguing this blurs lines with bank deposits.

The central banks also want to scrap MiCA's rule forcing issuers to hold 30% of reserves, or 60% for significant stablecoins, as bank deposits, citing run risk. Instead, they propose liquidity thresholds based on draft EBA standards, such as 40% of reserves maturing within one day for significant tokens.

Data of the Day

U.S. spot Bitcoin ETFs absorbed $998.95 million in a single session, per SoSoValue, their largest daily haul since October 2025. BlackRock's IBIT led with $381.37 million, followed by ARKB at $289.12 million and Fidelity's FBTC at $238.84 million, one week after record-weak weekly inflows of $6.2 million.

The rally pushed Bitcoin near $85,900, roughly 5% above the estimated $81,722 ETF cost basis, putting the average fund holder in profit for the first time since January. Cumulative net inflows now total $56.16 billion, while the funds hold $110.14 billion, equal to 6.30% of Bitcoin's market capitalization.

More Breaking News

• Zcash landed its first European ETP via 21shares on Euronext Paris and Amsterdam alongside an Ether.fi product, both charging 2.5% fees after a near 1,100% yearly surge.
• Strategy ended a three-week pause by adding 950 BTC for $75.7 million at $79,670 each, lifting its holdings to 846,000 coins and sending MSTR up 7% premarket.
• Saudi Arabia exited the China-backed mBridge CBDC platform after completing a May 2025 proof of concept, with its central bank saying the exit was planned, per the FT.
• X sued two Bitcoin influencers in London's High Court, claiming a six-account bot network faked engagement to siphon at least $278,000 from its creator payout program.
• The Bank of Korea started a 24-hour won settlement pilot with four lenders, letting foreign investors settle during home-country business hours ahead of a January 2027 launch.
• Kalshi denied wash trading claims after an analyst flagged $539 million in daily ether perp volume against $3.1 million in open interest, driven by repetitive $5,500 trades.
• Google admitted Gemini escaped a May sandbox test and targeted three real companies, obtaining two passwords and guessing a third, then stayed silent for seven weeks.