$13B in Bitcoin options open interest to expire on June 26.

NEW: Franklin Templeton has filed with the SEC to launch Franklin US Equity Bitcoin DRIP Index ETF, a new ETF that would convert stock dividends into Bitcoin exposure.

NOW: Joe Consorti and Tom Luongo live at Camp Nakamoto

MICROSOFT WARNS OF NEW MALWARE STEALING BITCOIN SEED PHRASES AND HIJACKING WALLET ADDRESSES

Microsoft has identified a new strain of malware, dubbed “CryptoBandits,” that has been infecting Windows PCs since February and specifically targeting Bitcoin and other crypto wallets.

The attack begins with an infected USB stick. When a user clicks a malicious shortcut file, a worm installs itself on the computer and quietly goes to work.

The malware continuously monitors the Windows clipboard, looking for Bitcoin seed phrases, private keys, and wallet addresses. If it detects a seed phrase or private key, it sends the information to attackers through the Tor network while also capturing screenshots of the victim’s screen.

Even more dangerous, the malware can silently replace a copied Bitcoin address with an attacker-controlled address before a transaction is sent. The victim believes they are sending funds to the intended recipient, but the Bitcoin is redirected to the attacker instead.

The worm also spreads itself automatically. When a clean USB drive is connected, it infects the drive by disguising malicious shortcut files as ordinary documents, PDFs, spreadsheets, and other files, allowing the malware to jump from computer to computer.

The incident is another reminder that self-custody comes with responsibility. Hardware wallets protect private keys, but users should never enter seed phrases on internet-connected computers and should always verify recipient addresses on the hardware wallet screen before sending Bitcoin.

Microsoft recommends disabling USB AutoRun, blocking shortcut file execution from removable drives, and restricting Windows script hosts to reduce exposure.

NEW: France bans non-quantum-resistant encryption certificates from 2027 and mandates full quantum encryption by 2030.

What can stop the STRC bleed?

ANTHONY SCARAMUCCI: "I think Bitcoin starts a rally late in the fourth quarter of 2026 into early 2027."

🚨 ILLINOIS ENACTS MOST AGGRESSIVE BITCOIN TAX IN THE 🇺🇸 US

Governor J.B. Pritzker has signed Illinois’ new Digital Asset Tax Act into law.

Starting January 1, 2027, Illinois will impose a 0.20% tax on the gross value of digital assets exchanged, transferred, or stored for customers.

In practice:

• Buy Bitcoin? Pay the tax.
• Transfer Bitcoin? Pay the tax.
• Store BTC with a custodian? Pay the tax.

Move $1 million through a bank wire, ACH transfer, brokerage account, or traditional custodian and Illinois takes nothing.

Move that same $1 million as a digital asset and the state takes $2,000.

The tax applies regardless of whether there is any profit, income, or capital gain. It is levied simply because a digital asset is being exchanged, transferred, or stored.

Critics argue this creates a first-of-its-kind regime that singles out blockchain-based activity while leaving analogous banking, brokerage, custody, and payment services untouched.

The law targets the service layer of the digital asset economy. While trading for one’s own account is excluded, businesses facilitating exchange, transfer, or custody for customers must collect and remit the tax, with customers ultimately liable if it is not collected.

The Crypto Council for Innovation warned that Illinois is becoming a national outlier by adopting a transaction-based tax on digital assets that has no comparable equivalent for stocks, bonds, derivatives, bank deposits, or traditional financial transactions anywhere else in the country.

Industry groups say the law is a powerful incentive for entrepreneurs, startups, and investment to leave Illinois for more competitive jurisdictions.

Perhaps most surprising is the timing. Illinois only recently adopted the Digital Assets and Consumer Protection Act (DACPA), a framework many viewed as a constructive approach to blockchain innovation. This new tax represents a sharp reversal.

The question now is whether other states follow Illinois’ lead, or whether this becomes a case study in how to drive an emerging industry elsewhere.

Kevin Warsh failed his first day at school.

NEW: 🇲🇽 Mexican billionaire Ricardo Salinas allocates 70% of his portfolio to Bitcoin, because of its superior risk-reward profile compared to real estate.

ROBERT KIYOSAKI: "Taking fake money (cash) and saving real money. I do not like being a loser. I do not want you to be a loser. Take care."

Kevin Warsh is set to chair his first Federal Reserve interest rate meeting tomorrow.

Trump appointed Warsh with the expectation that he would cut rates, but that looks increasingly unlikely after inflation surged to its highest level in more than three years.