Arc's privacy model could redefine institutional crypto use by balancing privacy with regulatory compliance, potentially boosting mainstream adoption.

The post Arc unveils privacy model for mainstream onchain finance appeared first on Crypto Briefing.

Mourinho's return to Real Madrid signals a strategic overhaul, potentially reshaping the team's dynamics and competitive edge in La Liga.

The post Jose Mourinho targets new signings for Real Madrid’s squad appeared first on Crypto Briefing.

Iran's toll system in the Strait of Hormuz, leveraging crypto, challenges international norms and may set a precedent for maritime revenue models.

The post Iran plans to generate $40B annually from fees in Strait of Hormuz, accepts Bitcoin and USDT appeared first on Crypto Briefing.

Freese's analytical approach to goalkeeping highlights the growing importance of data-driven strategies in modern sports, influencing future training.

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Manchester United's pursuit of experienced strikers could impact investor sentiment and share prices, highlighting football's financial influence.

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Bitcoin Magazine

Bitcoin Mining Pool DMND Mines First Known Stratum V2 Block; GoMining Constructs Its Own Template

Bitcoin mining pool DMND has mined the first known Bitcoin block produced using the Stratum V2 protocol, a technical milestone that shifts control over block construction from pools to individual miners. The block — number 955,318 — was mined through DMND’s pool for GoMining, which became the first miner to use Stratum V2’s Job Declaration feature to select its own transactions and build its own block template, according to a note shared with Bitcoin Magazine. 

Under the dominant model in Bitcoin mining today, miners contribute their computing power to a pool, and the pool decides which transactions go into each block. The miner has no say in that selection. 

Stratum V2, an open-source protocol developed with broad industry support, changes this arrangement. It allows miners to retain their participation in pooled mining — which smooths out revenue variance — while taking back the right to construct the block template themselves. Job Declaration is the specific mechanism that makes this possible: a miner submits its own proposed block template to the pool, the pool validates it, and the miner’s version goes forward.

GoMining used that mechanism to include transactions from GoBTC Pay, an open-source, non-custodial Bitcoin instant payments protocol the company announced at Consensus Miami in May 2026. The result is the first known case of a miner using Stratum V2 in a live production environment to power its own product through the block it helped create.

“A miner just mined the first Stratum V2 block to power their own product end to end,” said Alejandro De La Torre, CEO and co-founder of DMND. “GoMining declared the template and included their GoBTC Pay payments with no pool in the way. We built DMND for exactly this.”

GoMining CEO Mark Zalan framed the significance in structural terms. “For years, mining pools have determined which transactions are included in Bitcoin blocks,” he said. “By being the first to declare our own block template and include GoBTC Pay transactions, we’re demonstrating one of the practical capabilities that Stratum V2 makes possible.”

Bitcoin miners gain transaction control

The implications extend beyond this single block. Mining pool transaction selection has been a long-standing concern in Bitcoin, both for censorship resistance and for the distribution of power over the network’s transaction layer. 

If Stratum V2 adoption grows, miners — not pools — become the decision-makers on what enters the blockchain. DMND’s production deployment shows the protocol can function in a live environment, which removes one barrier to that broader adoption.

GoMining, which serves five million users and ranks among the top-ten Bitcoin miners by hashrate, operates data centers in the U.S. and internationally. 

The company offers tokenized hashrate products alongside its payments and earning tools. DMND describes itself as a pool built for the Stratum V2 era, with Job Declaration running in production.

This post Bitcoin Mining Pool DMND Mines First Known Stratum V2 Block; GoMining Constructs Its Own Template first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Price Flash Crashes from $61,000 to $58,000 as Market Waits For Support

Bitcoin price plunged to an intraday low of approximately $58,000 Thursday morning before staging a partial recovery, as a bear market that began after October’s all-time high shows no clear signs of exhaustion — and a closely watched long-term valuation model appears to have broken for the first time in its history.

The world’s largest cryptocurrency by market cap was trading around $59,315 as of mid-morning Thursday, down more than 3% on the day and roughly 53% below its October 6, 2025 all-time high of $126,198. 

Bitcoin price rallied as high as $61,868 in the early hours before sellers overwhelmed buyers, sending the price off a cliff in a matter of minutes.

Thursday’s flash crash followed an already bruising 24 hours. On Wednesday, Bitcoin had already traded below $60,000 for a time at the lower support trendline of the Bitcoin Power Law — a long-term valuation model popularized by physicist Giovanni Santostasi that plots price against time on a logarithmic scale and has historically contained all of Bitcoin’s price action for over a decade. 

Analysts tracking the model noted that while Bitcoin has flirted with the floor in past market dislocations — most notably during the March 2020 COVID crash and the FTX collapse in November 2022 — a sustained close below the support band had never been registered until this week.

The bitcoin price support trendline, which drifts upward roughly 0.093% per day as Bitcoin’s network matures, was sitting in the low $60,000s at the time of the breakdown. Thursday’s intraday dip to the $58,000s pushed prices further below that level, deepening the historic deviation.

Whether the breach constitutes a structural breakdown of the model — or a temporary excursion that will ultimately resolve higher — is up for debate. 

Historically, the Power Law Oscillator reaching extreme lows has preceded significant recoveries.

Bitcoin price sell-off

The macro backdrop driving the selloff over the last couple months is well-documented. Spot Bitcoin ETFs have seen outflows in the billions in recent weeks. Strategy sold Bitcoin for the first time in four years, rattling institutional confidence. 

Escalating U.S.-Iran tensions have sent oil prices higher, reviving inflation fears and prompting some Federal Reserve officials to float the possibility of rate hikes rather than cuts.

Capital rotation out of crypto and into AI-related equities has compounded the pressure, with investors chasing a different technology narrative entirely.

With Bitcoin price now sitting more than 50% below its all-time high and the Power Law model in uncharted territory, bulls face a critical test with bears clearly in control. 

This post Bitcoin Price Flash Crashes from $61,000 to $58,000 as Market Waits For Support first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

SBI Holdings Agrees to Acquire Japanese Crypto Exchange Bitbank in $288.6 Million Deal

SBI Holdings has signed agreements to acquire all shares of Japanese cryptocurrency exchange Bitbank in a deal valued at 46.7 billion yen, or approximately $288.6 million, the companies announced on June 24. 

The transaction will make Bitbank a wholly owned subsidiary of SBI Group through its investment arm, SBICAH GK.

The deal represents the largest consolidation move in Japan’s regulated crypto market to date. SBI and Bitbank entered into both a basic agreement and a share transfer agreement, with the transaction structured in two phases. 

SBI will acquire shares held by Bitbank’s founders and individual shareholders in August. Bitbank will then buy out shares held by existing corporate shareholders MIXI and Ceres by the end of October, completing the full transition into full ownership.

The transaction is subject to clearance from the Japan Fair Trade Commission and other standard closing conditions. Both companies expect the deal to close around October 2026.

Bitbank told its users the acquisition will have no effect on existing services. The exchange said customers can continue trading and using the platform without disruption throughout the ownership transfer.

SBI is now Japan’s largest crypto group

The Bitbank deal reshapes SBI’s position in Japan’s digital asset market. Combined with SBI VC Trade, its existing crypto exchange unit, the merged operation will hold an estimated 2.92 million crypto asset accounts and approximately 1.1 trillion yen — around $6.8 billion — in assets under custody. 

That figure would place SBI ahead of bitFlyer and Coincheck by trading volume, making the group the largest regulated crypto exchange operator in Japan.

SBI has moved to build this position through a series of acquisitions. In April 2026, the company’s VC Trade absorbed Bitpoint Japan. The Bitbank deal extends that consolidation, adding a brand with a long record in Japan’s regulated market and, according to the company, zero hacking incidents since launch.

For Bitbank CEO Noriyuki Hirosue, who is among the shareholders selling their stake, the deal marks an exit for a founder who built one of Japan’s more trusted exchange brands over more than a decade.

The acquisition comes at a moment of structural change for Japan’s crypto industry. Japanese authorities are examining whether to bring digital assets under the Financial Instruments and Exchange Act, a reclassification that could take effect as early as fiscal 2027. If that change goes through, crypto exchange operators would face stricter compliance requirements — a shift that favors large, well-capitalized groups over smaller independent platforms.

SBI has positioned itself ahead of that shift. Beyond exchange operations, the group launched JPYSC, Japan’s first trust bank-backed yen stablecoin, the same day it announced the Bitbank deal. 

The group also rolled out a Visa-branded rewards card that converts spending into Bitcoin and other crypto through SBI VC Trade, and it completed a co-launch of Ripple’s RLUSD dollar stablecoin in Japan.

The result is a financial group with exposure across exchange trading, custody, stablecoins, and crypto-linked payments — built through deal-making at a pace that few competitors in Japan can match.

This post SBI Holdings Agrees to Acquire Japanese Crypto Exchange Bitbank in $288.6 Million Deal first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Price Collapses to $59,000 — and the Worst May Not Be Over

Bitcoin price has crashed through $60,000, touching lows not seen since October 2024 and erasing months of gains in a matter of days. At press time, bitcoin price trades at $59,566 — down more than 10% in 24 hours and roughly 53% off its all-time high of $126,277 set last October.

The drop has been brutal, fast, and — for many holders — a gut punch that raises a question nobody wants to ask: how much lower can this go? No single event really broke bitcoin price. What happened instead was a convergence of bad news that hit all at once.

U.S. spot Bitcoin ETFs posted net outflows of approximately $113.8 million as of June 23, marking a fourth consecutive day of withdrawals. BlackRock’s IBIT led the exits with roughly $182 million in outflows, while Fidelity’s FBTC and ARK 21Shares’ ARKB attracted about $23 million and $31 million, respectively.

The Federal Reserve made things worse. With U.S.-Iran tensions pushing crude oil prices higher and reigniting inflation fears, Fed officials began walking back any talk of rate cuts — and some floated the possibility of rate hikes. That sent a clear signal to risk asset markets: the liquidity spigot is closing.

Then came Strategy. The company, long seen as an anchor of corporate Bitcoin conviction with its “never sell” posture, sold 32 BTC between May 26–31. 

This might (or might not) be the end for bitcoin price

Standard Chartered’s Geoffrey Kendrick, Global Head of Digital Assets Research, put out a client note in early June declaring that Bitcoin price’s drop to $59,000 marks the definitive cycle bottom — and reaffirmed the bank’s year-end target of $100,000. That’s roughly 70% upside from current levels. Kendrick tied his conviction to three signals he said needed to materialize: renewed ETF inflows, fresh corporate treasury purchases, and declining oil prices as geopolitical tensions ease.

On June 23, the first of those signals flickered. Spot Bitcoin ETFs recorded $39.2 million in net inflows — the first positive day after a prolonged bleeding streak — led by ARK 21Shares’ ARKB at $31 million. 

Corporate buyers have not stopped. Strategy purchased 520 BTC for approximately $35 million this week. Strive Asset Management added 759 BTC at an average price near $65,850. These are not panic sells — these are institutional bids placed into a falling market.

On-chain, roughly half of all Bitcoin supply is now underwater. In prior cycles, that crossover has marked the floor — not the beginning of a deeper collapse.

This post Bitcoin Price Collapses to $59,000 — and the Worst May Not Be Over first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Strategy (MSTR) Stock Craters 10%, Hits Two-Year Low as Bitcoin Crashes Below $60K, CryptoQuant Warns Company to Stop Buying

Strategy Inc. (NASDAQ: MSTR) shares fell more than 10% Tuesday to $92, a two-year low, as bitcoin cratered below $60,000 and an analyst note from CryptoQuant warned the company has overextended itself and should halt bitcoin purchases before its financial situation deteriorates further.

Bitcoin fell to roughly $59,000 on the day, a drop of more than $6,700 or about 5%, its worst single-day loss in months. The selloff sparked a liquidation cascade across crypto derivatives markets, with roughly $1.1 billion in leveraged positions forcibly closed within a 24-hour window. The move pushed bitcoin below the average cost basis for all of Strategy’s purchases made in 2024, 2025, and 2026 — leaving the company sitting on an estimated $10.6 billion in unrealized losses.

Strategy fell alongside bitcoin, as it almost always does. Shares opened near $103 and shed $10.97 from Monday’s close of $103.84 — the first time the stock has traded below $100 since March 2024.

CryptoQuant: Stop buying, rebuild cash

The slide came on the same day that CryptoQuant published a note calling on Strategy to pause its bitcoin accumulation and restore its cash reserves before buying more. The firm’s head of research, Julio Moreno, identified a set of numbers that tell a story of a company whose capital model is under strain.

Strategy’s annual dividend obligations — the payments owed on its stack of preferred instruments including STRC, STRK, STRF, STRD, and STRE — have grown from roughly $300 million at the start of 2026 to approximately $1.2 billion now, a near fourfold increase in under six months. 

Cash reserves have fallen 38% this year. Dividend coverage, once more than seven years, has compressed to around 14 months. CryptoQuant recommends the company restore cash reserves to roughly $2.8 billion before resuming bitcoin purchases.

The preferred shares themselves are flashing a warning sign. STRC, Strategy’s variable-rate perpetual preferred, has been trading near $84, well below its $100 par value.

When preferred shares trade below par, the capital-raise mechanism that funds bitcoin purchases breaks down — the company can’t issue new preferreds at attractive terms if the existing instruments are trading at a discount.

Strategy’s self-reinforcing cycle, in reverse

Strategy’s model was built on a premium. When MSTR shares trade above the value of the bitcoin on its balance sheet, the company can issue stock or preferred instruments, use the proceeds to buy bitcoin, and push the NAV per share higher — a cycle that rewards existing shareholders. The stock now trades at a discount to its bitcoin NAV, an mNAV of approximately 0.80x. That means both capital taps — common equity and preferred issuance — are constrained at the same time.

The company holds 847,363 bitcoin, acquired at an average price of roughly $75,680 per coin. With bitcoin at $59,324, that gap has widened to more than $16,000 per coin across the entire stack.

Peter Schiff, a longtime bitcoin critic who has watched Strategy’s trajectory, said Tuesday that if MSTR shares continue to fall, Saylor could face pressure to sell bitcoin to meet obligations — a scenario that would put further downward pressure on the asset underpinning the entire structure.

Strategy made its first bitcoin sale in nearly four years in early June, offloading 32 BTC. The company framed the sale as a demonstration that it could cover dividend obligations through asset liquidation. The market’s reaction today suggests investors remain unconvinced.

Whether Saylor pauses purchases, as CryptoQuant recommends, or finds another path forward, the central question now is whether a model built to thrive with a premium and a rising bitcoin price can hold together in an environment where both have reversed.

At the time of writing, Bitcoin is trading at $59,300, and Strategy shares are near $92.

This post Strategy (MSTR) Stock Craters 10%, Hits Two-Year Low as Bitcoin Crashes Below $60K, CryptoQuant Warns Company to Stop Buying first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin's rebound above $60,000 just failed because the bundle of U.S. macro data released June 25 gave risk traders the opposite of clean relief: sticky inflation, firm demand, a stronger growth revision, fewer jobless claims, and resilient ex-transport orders.

Bitcoin briefly flash-crashed in a liquidation-driven flush, falling from an intraday high near $61,844 to a low of about $58,189 before recovering part of the move, trading around $59,630. The rebound leaves BTC off the intraday lows as of press time, but the price remains below the pre-drop range.

The move coincided with a heavily one-sided liquidation event. CoinGlass liquidation readouts showed about $482 million in crypto liquidations over one hour, with roughly $427 million coming from longs and only about $54 million from shorts, while BTC accounted for about $272 million of the total.

The equity move was also sharp but partially retraced. SPY dropped from the high-$730s into the $728 to $730 area before rebounding to $737 on the latest 30-minute candle. That candle showed an open at $735, a high at $737, a low at $734, and a close at $737, while the chart label still showed SPY down about 1.30%.

DXY reversed lower after trading up toward the 101.8 area, falling back to 101.376 on the latest print. The U.S. 10-year yield also dropped hard, moving from the upper-4.4% area to around 4.374%, leaving rates near the lower end of the displayed range after the flash move.

The move kept Bitcoin closer to the $58,000 area than to a restored upside range, turning $60,000 from a recovery target into the line buyers still had to prove.

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The rejection was more than another chart-level failure. The release arrived after Bitcoin had already slipped below $60,000, then denied traders the soft-data narrative that could have helped risk assets rebound.

The June 25 releases showed sticky price pressure, high income and spending, a firmer growth revision, fewer jobless claims, and an orders report whose weak headline was softened by a stronger ex-transport reading.

The data undercut the relief trade

The most direct pressure came from the May personal income and outlays release. BEA said personal income rose 0.7%, disposable personal income rose 0.7%, PCE rose 0.7%, and real PCE rose 0.3%.

Prices also stayed elevated. The headline PCE price index rose 0.4% month over month and 4.1% year over year, while core PCE rose 0.3% month over month and 3.4% year over year.

That combination gave the market a difficult mix. Spending and income were still expanding, while inflation had not cooled enough to make quick policy relief easier to price.

For Bitcoin, that meant the rebound was fighting the same macro headwind that often hits long-duration and high-beta assets first.

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The growth data reinforced that message. BEA's third estimate for first-quarter GDP revised real growth to a 2.1% annualized pace from the second estimate of 1.6%.

A stronger growth revision alongside sticky inflation usually keeps immediate rate relief harder to price.

Labor data added another piece. The Labor Department's weekly claims report showed initial jobless claims at 215,000 for the week ending June 20, down from the prior week's revised 227,000.

Lower claims kept the labor-market slowdown argument from carrying the risk-asset rebound.

Durable goods were more mixed, but the detail still leaned against an easy dovish interpretation. The Census Bureau's advance durable goods report showed May orders down 4.5% as transportation equipment drove the decrease.

Orders excluding transportation rose 1.3%, which made the underlying signal more resilient than the headline decline suggested.

Bitcoin became the high-beta expression

The market reaction required a smaller catalyst than a uniform downside surprise would have. The full bundle only had to weaken the idea that U.S. data had softened enough to pull policy expectations lower.

That is why the failed reclaim near $60,000 was different from a standalone support test. Bitcoin was already fragile after its latest slide, and the macro release arrived at the moment buyers needed a reason to defend the rebound.

The data indicated an economy that still had sufficient demand and labor strength to keep inflationary pressures relevant.

CryptoSlate's Bitcoin data showed how far the asset had already moved. BTC's 8.01% seven-day decline and $48 billion in 24-hour volume pointed to heavy trading around the break.

The $60,000 level had become both a confidence test and a round number.

The market also entered the release with other crypto-specific stress points already in view. Recent CryptoSlate coverage had mapped liquidation risk near the $57,300 area, ETF-flow pressure around the $58,000 zone, and the possibility that Bitcoin's PCE reaction could collide with quarterly options expiry.

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Those factors can intensify a move once the price starts to slide, while the macro release provided the broader reason the rebound lost support.

Bitcoin's next attempt at $60,000 now looks tied to broader liquidity conditions rather than only to crypto-native dip buying.

If risk assets stabilize after absorbing the June 25 releases, BTC can treat the data shock as another failed downside push and try to rebuild above the reclaim line.

That path would require the market to stop treating strong activity data and sticky inflation as a fresh reason to keep pressure on high-beta assets.

If the dollar and rate-sensitive parts of the market continue to weigh on risk, the $58,000 area remains exposed. That would keep liquidation-zone and ETF-flow pressure relevant as accelerants, especially with options expiry close enough to affect positioning.

The next signal is bigger than crypto-native dip buying. Bitcoin needs the macro backdrop to stop fighting the rebound before buyers can turn $60,000 back into support.

The post Bitcoin’s $60K rebound just collapsed as $427M in long liquidations followed sticky inflation data appeared first on CryptoSlate.

Chainlink's Project Pangea turns stablecoins toward a quieter but consequential job: helping banks settle foreign-exchange trades with less time between trade execution and final exchange of funds.

The June 23 announcement from Chainlink describes a framework for T+0 international FX settlement designed around compliant fiat-referenced digital assets, including EUR and KRW stablecoins.

T+0, or same-day settlement, means a transaction is completed, and ownership and payment are exchanged on the same day the trade is executed, rather than waiting one or more business days for final settlement.

That makes the project a test of settlement risk. If a euro stablecoin and a Korean won stablecoin can move against each other in direct payment-versus-payment settlement, the useful outcome is a shorter window in which one party has paid while the other side is still waiting.

The potential reward is freed-up capital and lower counterparty exposure if controlled bank trials show the model can work beyond an announcement.

A bank workflow test for FX desks

Project Pangea centers on a specific institutional problem: FX markets are constantly moving, but settlement often depends on processes that separate trade execution from the final exchange of funds. The announcement frames the target as a shift from slower settlement cycles to T+0 atomic settlement, in which both currency legs are exchanged simultaneously.

In plain English, the test asks whether compliant stablecoins can become settlement instruments for banks while those banks keep the messaging rails they already know. Chainlink's capital markets materials describe the project as connecting bank instructions through existing SWIFT infrastructure and ISO 20022 messaging, with Chainlink infrastructure translating those instructions into on-chain settlement activity.

Swift's own ISO 20022 guidance shows why that workflow compatibility is important. ISO 20022 is the structured messaging standard through which banks increasingly coordinate cross-border payment instructions.

The EUR/KRW pairing is also important. The framework points to compliant regional currencies, with Qivalis representing the euro side and FairSquareLab and UniKA tied to the Korean market.

That keeps the experiment focused on whether stablecoins can support bank FX settlement between jurisdictions that already have their own regulatory and banking systems.

A compact way to read the announcement is to separate what the project is testing from what banks still need to see.

The institutional value sits beyond raw transfer speed. Pangea aims at the harder operating question of whether regulated stablecoins can reduce the operational and counterparty risk embedded in institutional FX settlement.

Payment-versus-payment links the delivery of one currency to the delivery of the other. In traditional FX operations, settlement delays can leave firms exposed if one leg completes before the other.

Pangea's atomic-settlement framing says the euro and won legs should move together, which would reduce that mismatch if the framework works in controlled bank trials.

That is where stablecoins become bank infrastructure rather than consumer tokens. A compliant EUR stablecoin and a compliant KRW stablecoin would need reliable issuance, redemption, liquidity, controls, and legal treatment before banks could rely on them for production settlement.

The announcement describes a framework and development path ahead of any completed market utility.

The announcement lends the framework institutional weight by citing a working group spanning Europe and South Korea that collectively manages more than $10 trillion in assets, including Qivalis’ 37-bank euro stablecoin consortium and UniKA’s Korean banking coalition. Those figures are Chainlink’s framing, while adoption still depends on bank trials, liquidity, operating approvals, and legal treatment across both currency legs.

A pilot can demonstrate that messages, token transfers, and compliance controls fit together. The harder step is turning that technical fit into routines accepted by treasurers, legal teams, regulators, liquidity providers, and operations desks.

The live tension is therefore practical rather than ideological: stablecoins are being tested against a real banking pain point, while the project still needs real transaction volume before it becomes market infrastructure.

The euro and Korean legs still need operating details

Qivalis gives the euro side of the project a more institutional profile. ING said in May that Qivalis had reached 37 bank participants and planned to launch a regulated euro-denominated stablecoin in the second half of 2026, subject to regulatory approval.

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That background helps explain why Pangea's euro component is more bank-shaped than a placeholder currency leg would be.

CryptoSlate has also covered Europe's bank-backed stablecoin push as a test of whether on-chain finance develops a stronger euro base while dollar stablecoins dominate. For Pangea, the relevance is operational: FX settlement between EUR and KRW depends on more than a technical bridge.

It requires bank-grade confidence that the currency tokens are acceptable instruments in the markets where they circulate.

The exact settlement assets and the regulatory path remain open. A live pilot would still need to identify the specific EUR or KRW stablecoins involved, whether early tests use real-value or controlled-trial flows, and how liquidity and redemption would work across the pair.

Those details will decide whether the framework becomes bank infrastructure or stays a well-designed experiment.

The Korean side carries similar caveats. FairSquareLab describes itself as a digital financial infrastructure company, and the Pangea release places it alongside UniKA and Qivalis in the settlement framework.

Final operating rules for won-denominated settlement, including liquidity, redemption, and compliance handling, remain the next layer of institutional work.

Chainlink is the most visible crypto brand in the announcement, but its relevant role is infrastructure. The core issue is whether Chainlink infrastructure can sit between bank instructions and on-chain settlement while making the bank workflow feel familiar to operations teams.

There is an adjacent precedent for that kind of institutional testing. CryptoSlate previously covered Chainlink-related pilots with Swift and UBS, as well as a Visa-linked stablecoin swap.

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Those examples show that banks and payment companies have repeatedly returned to the same problem: how tokenized assets and tokenized money can move through institution-compatible workflows. For Project Pangea, they serve as background outside the EUR/KRW operating setup.

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Swift's own digital-currency experiments provide a broader institutional backdrop. In 2024, Swift said collaborative work explored more complex CBDC use cases, including FX and settlement scenarios.

That points to a broader institutional search for tokenized money that can integrate with existing messaging systems, while Project Pangea's specific participants and operating model are outlined in the Pangea announcement itself.

The next test is operational

The answer to the central question is conditional. Regulated EUR and KRW stablecoins can address a real FX settlement problem by making PvP settlement operationally safer while banks retain their existing workflows.

Project Pangea is designed around that condition: keep the bank messaging layer familiar, then change the settlement layer underneath it.

The first signal to watch is whether the framework moves from announcement to controlled bank trials with clear disclosures about transaction type, stablecoin instruments, and settlement finality. A simulated technical flow would be useful, but it would leave the liquidity and risk questions open.

A real-value trial would carry more weight if it identifies the guardrails around redemption, reserves, compliance, and dispute handling.

The second signal is whether the euro and won sides both become bank-grade instruments. Qivalis' planned euro stablecoin launch gives the European leg a visible path, but the framework also needs clarity on the KRW side.

Credible issuance and liquidity in both currencies would make the difference between a PvP diagram and a settlement market.

The final signal is whether banks consider Swift and ISO 20022 compatibility sufficient to reduce adoption friction. If the familiar messaging layer allows operations teams to test tokenized settlement while keeping their operating processes largely intact, stablecoins could gain a foothold in a space that has little to do with retail payments.

If legal, treasury, or regulatory teams still require a separate operating model, the technology may work before the institution is ready to use it.

Project Pangea is therefore an early institutional test before stablecoins can be treated as routine bank FX settlement rails. It puts regulated stablecoins in front of a real settlement problem and asks whether the crypto rail can recede into the bank workflow around it.

The post Chainlink’s latest stablecoin push targets the capital stuck in bank FX settlement appeared first on CryptoSlate.

Bitcoin price fell below $60,000 this week and touched its lowest level since October 2024 as traders abandoned expectations for interest-rate cuts and began preparing for the Federal Reserve to raise borrowing costs later this year.

According to CryptoSlate's data, the largest digital asset dropped more than 4% in the last 24 hours to as low as $59,030 before recovering to roughly $61,650 as of press time. This move extended a decline that has erased more than 50% of its value since the record reached last October.

The distress in Bitcoin cascaded swiftly across the broader digital asset ecosystem. Ethereum, the second-largest cryptocurrency by market capitalization, dropped approximately 3% to trade near $1,650.

Alternative cryptocurrencies experienced similar depreciations. Major digital assets including Solana, BNB, Cardano, XRP, Dogecoin, and Hyperliquid all traded firmly in negative territory as the risk-off sentiment permeated every tier of the crypto market.

A cascading liquidation event

The swift, broad market descent triggered a sharp unwinding of leveraged positions across crypto derivatives exchanges. As the asset sliced through critical technical boundaries, algorithmic selling and margin calls compounded the downward momentum.

Market data tracker Coinglass reported that approximately $1 billion in derivative contracts were forcefully closed within a 24-hour window. The wipeout affected more than 176,000 individual market participants.

The drawdown disproportionately impacted traders positioned for a rebound. Liquidations of long contracts, which are bets that prices would appreciate, accounted for about $781 million of the total, compared to $211 million in short liquidations.

This heavy imbalance reflects a market that was fundamentally mispositioned, with speculators caught leaning bullishly into a structural decline.

Bitcoin-specific contracts bore the brunt of the washout, suffering $417 million in forced closures. The single most severe liquidation materialized on the Binance exchange, involving a $12 million Bitcoin swap contract.

Meanwhile, ETH-linked derivatives traders absorbed roughly $230 million of the total liquidation wipeout.

Spot sellers and ETF redemptions drive the break

Trading data indicate that the decline began in the spot market, where investors buy and sell the underlying asset, rather than in futures markets.

More than $470 million in Bitcoin sell orders were executed on Binance within one minute as the price crossed below $60,000, CryptoQuant data showed. Sell orders on the exchange exceeded $1.2 billion within the following hour.

The volume of orders clustered near $60,000 indicates that many investors had chosen the level as an exit point. Once those orders entered the market, available demand proved insufficient to absorb the supply without a steep drop in price.

Broader demand also remains weak. Glassnode said realized losses, withdrawals from spot Bitcoin exchange-traded funds, and increased demand for defensive options continued to weigh on sentiment.

Although some investors have bought at lower prices, the accumulation has not been strong enough to support a sustained recovery.

ETF redemptions have added to the pressure. The 13 US spot Bitcoin funds are approaching a seventh consecutive week of net outflows, with investors withdrawing more than $6 billion over the period, SoSoValue data showed.

US macro fuels Bitcoin descent

The primary catalyst for the current selloff appears to be rooted in US monetary policy expectations.

Earlier in the year, market participants had aggressively priced in multiple interest rate cuts for 2026. Those forecasts have evaporated.

Instead, resilient inflation data and the economic fallout from the Iran conflict have prompted a stark repricing of Federal Reserve policy.

With the resumption of maritime shipping through the Strait of Hormuz alleviating some immediate geopolitical anxiety, the focus has shifted entirely to the strength of the US economy and the central bank's mandate to cool prices.

The US Dollar Index (DXY) has surged in response, breaking back above the 100 threshold and hitting a 13-month peak of 101.5. A stronger dollar historically applies inverse pressure to Bitcoin and other risk assets, as a higher-yielding fiat currency diminishes the appeal of non-yielding digital alternatives.

CryptoQuant analyst Axel Adler pointed out that the market is no longer hoping for a pivot. According to Adler, traders are pricing in a higher probability of a Federal Reserve interest rate hike by October, a scenario that would extend the restrictive liquidity backdrop if it materializes.

Historically, this would represent a hostile environment for highly speculative assets.

The bond market's reaction further validates this shift in expectations. With Treasury yields inching upward, the opportunity cost of holding non-yielding assets like Bitcoin has risen substantially. The tightening financial conditions strip away the excess liquidity that typically fuels speculative frenzies in the cryptocurrency sector.

For an asset class that thrives on abundant capital and zero-interest-rate environments, the prospect of a rate hike by the fourth quarter represents a formidable structural headwind.

Bitcoin is still waiting for market capitulation

Despite the steep drawdown and current market situation, some crypto analysts argue that the bottom may not yet be established.

James Lavish, co-managing partner at the Bitcoin Opportunity Fund, expressed reservations about the nature of the current selloff.

Lavish noted that genuine market bottoms are typically accompanied by massive volume spikes indicative of total panic and capitulation. The current price action, he suggested, resembles a buyer's strike rather than a final flush-out, pointing to persistent negative sentiment that could eventually force a deeper collapse.

Nevertheless, Lavish maintained that the long-term risk-to-reward ratio remains highly attractive at these depressed levels, provided the fundamental architecture of the Bitcoin network remains intact and central banks eventually return to currency debasement.

For now, however, digital asset investors face a grueling wait. As the Federal Reserve contemplates further tightening and institutional capital remains sidelined, Bitcoin's path back to its former highs looks increasingly arduous.

The post Bitcoin crash below $60,000 triggers $1 billion loss as markets now price Fed rate hike by October appeared first on CryptoSlate.

Asia Bitcoin company, Bitplanet, is trying to convert its Bitcoin treasury from a balance-sheet position into a source of mined BTC revenue.

The South Korean company said in a June 24 release that it signed a strategic memorandum of understanding with Nasdaq-listed Antalpha and mining ecosystem partners.

Under the MOU, Bitplanet plans to introduce KRW 15 billion in BTC mining equipment and begin full-scale mining operations this month.

The change pushes Bitplanet beyond the familiar corporate treasury playbook of raising capital, buying BTC, and letting the balance sheet carry the exposure.

A mining-based treasury is exposed to a different operating stack: hashrate, hosting contracts, power prices, equipment uptime, local execution, and whether mined coins are retained, sold, or pledged as collateral.

Bitplanet is presenting that second model as the next step for its corporate Bitcoin strategy. The company said mined BTC will be recognized as operating revenue and managed as a long-term financial asset across liquidity reserves, risk-hedging funds, and reinvestment capital.

Treasury Strategy Turns Operational

Bitplanet's announcement extends the company's earlier treasury accumulation. CryptoSlate previously covered Bitplanet's SGA acquisition and its ambition to become one of the largest corporate Bitcoin holders, then later covered its daily Bitcoin accumulation push.

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That earlier model was familiar: raise capital, buy BTC, and let the balance sheet reflect Bitcoin exposure.

The Antalpha deal points at a different question. Can a treasury company build a recurring Bitcoin production loop, where hardware, low-cost power, and hosting infrastructure feed coins into the balance sheet over time?

Bitplanet said the first-phase equipment is expected to target more than 7 BTC per month and over 80 BTC annually, subject to equipment utilization and power costs.

Using a Bitcoin price near $61,000, 80 BTC would represent about $4.9 million of gross BTC output before electricity, hosting, financing, repairs, taxes, and corporate overhead.

That math gives investors a scale marker rather than profit guidance. It also leaves open the question of whether the company can retain the mined BTC, reinvest it, or use it as collateral without weakening its broader treasury thesis.

Antalpha brings more than a name to the announcement. The company priced its IPO in May 2025 and trades on Nasdaq under ANTA.

Its public materials describe a business built around Bitcoin mining finance, including mining-machine loans, hashrate loans, supply-chain credit, and margin-lending services through Antalpha Prime.

Antalpha's IPO prospectus described lending products tied to rigs, hosting, maintenance, and mining operating expenses. Its Antalpha Prime materials add the operating link, describing financing arrangements in which mined BTC can be used as collateral for hosting, repair, and other service costs.

That creates the operating challenge for Bitplanet because mining is capital-intensive before it produces anything. Equipment has to be purchased or financed, shipped, installed, hosted, powered, maintained, and pointed at the network.

When a treasury company announces a target in BTC terms, the real test is whether the operating stack can produce coins at a cost below the value Bitplanet assigns to holding them.

Antalpha's own results add a constraint to that story. The company reported a first-quarter 2026 total value of loans facilitated down 3% year over year and supply-chain TVL down 25%, even as revenue rose 52%.

That makes the Bitplanet MOU a test of execution inside a lending market that still has softer pockets.

Planned Power Markets Carry The Risk

Bitplanet said equipment is expected to be deployed in overseas regions with competitive electricity costs and stable power environments, including Oman and Paraguay.

It also described an overseas colocation model that combines outsourced operations and joint ventures.

That structure is central to the thesis and the risk. Mining margins can be won or lost on power terms, curtailment risk, hosting reliability, repair turnaround, and the share of mined BTC that leaves the company to cover costs.

A deployment in a low-cost power market can make sense on paper, but only if the contracts, uptime, customs, taxes, and counterparties hold up in practice.

The current mining backdrop makes that scrutiny necessary. Hashrate Index recently showed Bitcoin hashprice around $30.72 per PH per day.

In its May 2026 lookback, it noted hashprice averaged $36.60 and faded to $33.58 by month-end as difficulty rose.

VanEck's mid-June Bitcoin ChainCheck estimated May 2026 miner revenue at about $1.12 billion, down 26% year over year, and noted that miners were selling BTC and moving into AI and high-performance computing.

Bitplanet is entering mining at a time when public-market investors are already differentiating among companies that own BTC, companies that can produce BTC, and companies that can convert power infrastructure into another revenue stream.

CryptoSlate's recent coverage of miner AI infrastructure shows how quickly the market can reprice power assets before the operating buildout is complete.

Mining, therefore, changes what investors have to measure. The question shifts from how much BTC Bitplanet can buy to whether it can operate, finance, and retain the BTC it mines through a full cost cycle.

Those variables make Bitplanet's next disclosures more important than the headline production target, since the economics will be set by contracts, machine performance, and coin retention after costs.

The Investor Test Is Coin Retention

The timing also lands during a more stressful phase for Bitcoin treasury companies.

CryptoSlate recently analyzed how Strategy's STRC pressure can force tradeoffs between cash, BTC purchases, and dilution.

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The same broad tension applies across the sector: a treasury strategy that relies primarily on external capital becomes harder to scale as financing terms worsen.

Mining offers a possible answer with clear tradeoffs. If Bitplanet can mine BTC at an attractive cost and retain enough of it, the company could supplement purchases with organic coin production.

If hashprice weakens, power costs rise, uptime disappoints, or hosting terms absorb too much output, the same mining program could become another capital-intensive burden.

The comparison with operating miners is also sobering. CryptoSlate recently reported that Bitdeer mined 921 BTC in May, while the market was still assessing how much of that production translated into a stronger retained treasury.

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Bitplanet's target of over 80 BTC annually is much smaller, but the same question applies: mined coins only improve a treasury model if enough of the value survives the costs of operations and balance-sheet demands.

South Korea's corporate crypto backdrop adds one more layer. The Financial Services Commission said in 2025 that corporate virtual-asset transactions had been restricted in principle since 2017 and were being reopened in stages.

Bitplanet is therefore testing how a Korean-listed company can connect its Bitcoin treasury strategy, operating revenue, and overseas infrastructure without turning the model into a simple BTC-buying proxy.

The next signal is evidence of deployment: signed hosting or joint-venture terms, equipment hashrate, power-cost disclosures, monthly BTC production, and the amount of mined BTC remaining on Bitplanet's balance sheet after expenses.

The post Bitplanet’s Antalpha mining deal tests whether Bitcoin treasuries can grow without constant buying appeared first on CryptoSlate.

President Donald Trump has spent his second term trying to close the door on a U.S. central bank digital currency. On Wednesday, he canceled a planned signing ceremony for a housing bill that would put a temporary ban on a Fed-issued digital dollar into federal law.

The decision placed Trump in the unusual position of blocking, at least temporarily, a measure that would codify his own opposition to a digital dollar.

The president has repeatedly described a Federal Reserve-issued central bank digital currency, or CBDC, as a threat to financial privacy and prohibited federal agencies last year from taking steps to establish, issue, or promote one.

Trump’s move did not signal a change in that position. Instead, he turned the 21st Century ROAD to Housing Act and its CBDC provision into leverage, saying he would withhold his signature until Congress passes the SAVE America Act, an elections bill requiring voter identification and documentary proof of citizenship.

He wrote on Truth Social:

The cancellation came hours before Trump was expected to appear at the US Capitol for a signing ceremony. It surprised lawmakers after the housing measure cleared the Senate 85-5 on Monday and the House 358-32 on Tuesday.

Those margins exceeded the two-thirds threshold needed to override a presidential veto, although it is unclear whether Republicans would maintain that level of support if forced to vote against Trump.

Trump delays a statutory CBDC Ban

The ROAD to Housing Act is primarily intended to increase the supply of homes, reduce regulatory barriers to construction, and expand access to housing finance. Its final section also includes an unrelated restriction on the Federal Reserve’s ability to issue a digital dollar.

The provision would prevent the Fed from issuing or creating a CBDC, directly or through a financial intermediary, until Dec. 31, 2030. It also states that the central bank cannot issue a substantially similar digital asset without authorization from Congress.

A CBDC would be a digital liability of the Federal Reserve made available to the public. It would differ from privately issued stablecoins such as Tether’s USDT or Circle’s USDC, which are issued by companies and generally backed by cash, Treasury securities, and other reserve assets.

The prohibition is written around central bank-issued money and would not ban private stablecoins or other open, permissionless dollar-denominated digital assets that preserve protections similar to those associated with physical currency.

The Federal Reserve has not decided to create a CBDC. It has said it would proceed only with authorization from Congress and the executive branch.

Still, the possibility has drawn sustained opposition from Republican lawmakers and digital asset groups that argue a government-issued currency could provide authorities with greater visibility into private transactions.

Trump acted on those concerns shortly after returning to office. His January 2025 executive order barred federal agencies from taking action to establish, issue, or promote a CBDC and instructed them to end initiatives related to creating one.

The order did not ban every form of technical or academic research involving digital currencies. It instead stopped federal agencies from pursuing a US CBDC as a policy project.

Because a future president could rescind or revise Trump’s order, crypto advocates have pushed for Congress to place the prohibition in federal law. The housing bill would make the restriction more durable, though it would remain temporary and expire at the end of 2030.

Trump’s refusal to sign the package, therefore, delays a legislative extension of a policy he already supports.

White House reverses its own messaging

The cancellation also undercut the White House’s promotion of the housing measure.

Earlier Wednesday, White House press secretary Karoline Leavitt described the expected signing as another example of Trump keeping a campaign promise. She said the bill would help lower housing costs and make homeownership more attainable.

Trump later minimized the measure, calling it an issue of “minor importance” compared with lower interest rates and other congressional priorities. He also criticized the involvement of Sen. Elizabeth Warren, the Massachusetts Democrat who helped negotiate the legislation as the ranking member of the Senate Banking Committee.

Asked whether he would veto the bill, Trump did not directly answer. Instead, he told reporters:

“Look, I made billions of dollars with housing. I know housing better than anybody maybe anywhere. It’s all about the interest rate. I don’t want to hurt people that own houses too.”

Lawmakers from both parties have promoted the package as one of the most substantial federal housing efforts in decades.

Following Trump's decision, Democrats criticized him for tying those provisions to an unrelated election dispute, with Warren insisting that “we will get this bill passed.”

Sen. Mark Warner of Virginia said Trump had changed course while preparing to sign one of the most important bipartisan housing measures in years, leaving Americans without relief from rising rents and mortgage costs.

The president’s decision also frustrated some Republicans who had worked with Democrats and the administration to negotiate the package.

Before the cancellation, House leaders had presented its passage as a major affordability achievement ahead of the midterm elections.

The Voter ID standoff

Trump has conditioned his support for the housing bill on passage of the SAVE America Act, which would impose new national identification and citizenship-documentation rules for federal elections.

The legislation would require people to provide documentary proof of US citizenship when registering to vote. It would also require photo identification when casting a federal ballot and establish additional documentation rules for some absentee voters.

The House passed the bill 218-213 in February, with one Democrat joining Republicans. It has since stalled in the Senate, where Republican leaders lack the 60 votes generally required to overcome a filibuster.

Trump has pressed Republican senators to change Senate procedures or find another way to pass the legislation. Senate leaders have resisted eliminating the filibuster, and repeated attempts to advance the measure have failed.

House Speaker Mike Johnson has said Republicans may seek to place parts of the voting proposal in a broader budget measure. Trump, however, indicated Wednesday that he was not prepared to accept a compromise version.

Federal law already prohibits noncitizens from voting in federal elections. The Bipartisan Policy Center has said confirmed instances of noncitizen registration and voting are rare, while acknowledging the legitimacy of ensuring that only eligible citizens vote.

The policy group has also warned that many eligible citizens do not have ready access to the documents the legislation would require.

Opponents say the rules could prevent some citizens from registering, particularly those who lack a current passport, an easily accessible birth certificate or identification matching their current legal name.

Republicans say the requirements would strengthen election security and public confidence. Democrats and voting-rights organizations argue that the measure would create unnecessary barriers to participation while addressing conduct that is already illegal and uncommon.

Trump has elevated the issue into a condition for signing unrelated legislation, previously threatening to block other congressional priorities until the SAVE America Act reaches his desk.

Veto math leaves the CBDC bill alive

Canceling the ceremony does not automatically kill the housing bill or its CBDC restriction.

The Constitution gives a president 10 days, excluding Sundays, to sign or veto legislation after it has been formally presented. The deadline begins with presentment and not with congressional passage or the scheduling of a signing ceremony.

The housing package had not yet been formally sent to the White House when Trump canceled the event, meaning the constitutional countdown had not started. Congressional leaders retain some control over when an enrolled bill is presented to the president.

Johnson reportedly said after speaking with Trump that he still expected the president to sign the legislation within the available period. That leaves room for Trump to continue pressing senators on voting legislation without permanently abandoning the housing package.

Once the bill is presented, Trump could sign it, veto it, or take no action. If he does not return it within 10 days while Congress remains able to receive a veto, it would become law without his signature. If Congress adjourns in a way that prevents the bill’s return, Trump could block it through a pocket veto.

A formal veto would force lawmakers to decide whether to override him. The original 85-5 Senate vote and 358-32 House vote both comfortably surpassed the required two-thirds majority.

However, those votes do not guarantee an override. Republican lawmakers who supported the housing package might be unwilling to rebuke a president of their own party once he has explicitly tied the legislation to what he calls a national emergency.

For the digital asset industry, the immediate result is a delay rather than a policy defeat. Trump has not endorsed a digital dollar or withdrawn his objections to a CBDC. The Federal Reserve also has no active plan to issue one.

The post Why anti-CBDC Trump refuses to sign bill banning a digital dollar through 2030 appeared first on CryptoSlate.

Just days before a hard EU regulatory deadline, Binance has dropped a bombshell on its European users. In a series of posts on X, the world's largest crypto exchange confirmed it is pulling its licence application in Greece and will try again elsewhere in the bloc.

With the clock ticking and millions of European users watching, here's what actually happened, what it means for your funds, and whether this had anything to do with crypto's brutal price drop this week.

What happened with Binance in the EU?

Binance had been trying to use Greece as its gateway into the European Union. The plan was straightforward on paper: get one MiCA licence, then "passport" it across all 27 member states. That plan has now collapsed.

The withdrawal didn't come out of nowhere. Binance's announcement came just one week after a Reuters report indicated its application was going to be rejected by the Greek finance regulator, the HCMC. In other words, Binance jumped before it was pushed. The company framed it as a prudent decision, noting that with no formal response ahead of the deadline, it chose to move forward in a way that gave users more clarity.

And the timing is critical. The MiCA transitional period for crypto-asset service providers ends on July 1, 2026, and after that date any firm without proper authorization is effectively locked out of the EU market. That gives Binance a razor-thin window to sort out an alternative.

What does this mean for crypto users on Binance?

This is the question on every European user's mind — and the honest answer is: mostly reassurance, with some uncertainty around the edges.

• Your funds are safe. Binance has been emphatic on this point. "The most important message is this: your funds remain safe and secure," the company stated, adding that it is actively reaching out to all EU users via email and in-app notifications.
• Some users may face disruption. Binance has been upfront that not everyone walks away untouched. The firm said that because it must take steps before July 1 to remain compliant, some users may be impacted, and it will communicate directly with affected users about next steps. What "impacted" means in practice — restricted new sign-ups, limits on certain products, or regional service changes — will vary by jurisdiction and hasn't been fully spelled out yet.
• Watch out for scams. Periods of confusion are a goldmine for fraudsters, and Binance issued a pointed warning. The exchange stressed it will never contact users by phone, will only communicate through official channels or email, and will never ask for passwords, 2FA codes, or private keys. If you're an EU user, treat any unexpected "urgent" message with extreme suspicion.

The practical takeaway: don't panic, but do keep an eye on official Binance channels for any account-specific instructions in the coming days.

Did this cause the crypto price crash?

Short answer: no, not really.

It's tempting to link this headline to the brutal sell-off that just dragged Bitcoin below $60,000 and XRP toward $1, but the timeline doesn't support a direct cause-and-effect. The crypto crash was driven by a confluence of macro factors — a sharp sell-off in tech and AI stocks, sticky inflation keeping the Fed hawkish, relentless $Bitcoin ETF outflows, and the fading CLARITY Act catalyst. Those were the real heavyweights moving the market.

The Binance news is better understood as a sentiment drag than a price driver. Landing in an already-fragile, fear-driven market, a regulatory wobble at the world's largest exchange doesn't help confidence — but there's no evidence it triggered the cascade. The market was bleeding before this headline hit, and the structural causes sit firmly in the macro and ETF picture, not in a single licensing setback.

That said, regulatory uncertainty around the biggest on-ramp in crypto is exactly the kind of background noise that can deepen risk-off sentiment when traders are already nervous. It's a contributing chill, not the cause of the freeze.

What happens if Binance finds another EU country?

This is where the story could swing back to neutral — or even positive.

The whole point of MiCA is a single market. Once approved in one EU nation, a firm can "passport" — or transfer its compliance — to the other member nations. So if Binance secures a licence in a different member state, it can in theory restore seamless access across the bloc, and this entire episode becomes a speed bump rather than an exit.

There's already a frontrunner. France has been mentioned as a potential landing spot, and it would be a logical choice — Binance already holds a registration with France's AMF as a digital asset service provider, a designation that predates MiCA, making it easier than starting from scratch.

But it's not a guaranteed clean save. The "passport" system has its critics. Last year, French regulators spoke out about disallowing passporting, threatening to block some firms that received approval in more lax EU states. And Binance's troubles aren't unique to Greece — Greek, Irish and Latvian regulators had reportedly raised concerns about Binance's past legal issues and corporate structure. If multiple regulators are skeptical, finding a willing home could prove harder than Binance's confident messaging suggests.

Will Binance Leave the EU?

For European Binance users, the immediate message is reassuring: your funds are safe, and the company insists it isn't leaving Europe. The real risk is operational disruption in the short term and the open question of whether Binance can secure a new licence before — or shortly after — the July 1 deadline.

On the market side, don't blame this for the crash. The price carnage was a macro and ETF story; the Binance news is a confidence headwind layered on top of an already-jittery market. If Binance lands a licence in France or another member state and passports it across the EU, this likely fades into a footnote. If it can't, the conversation about access for millions of European users gets a lot more serious.

For now: watch your inbox, ignore the scammers, and keep your eyes on which EU flag Binance plants next.

XRP is getting hammered. As Bitcoin smashed below the $60,000 floor, Ripple's token cratered right alongside it, sliding all the way down to around $1.08 after briefly dipping below $1.05. The $1 psychological level — once a distant safety net — is now staring traders dead in the face.

How did XRP crash to $1?

This wasn't an XRP-specific collapse — it was guilt by association. $XRP has a long, well-documented history of amplifying Bitcoin's moves to the downside. On every major Bitcoin drop this year, XRP has lost close to twice as much as Bitcoin, with the ratio staying consistent at around 1.8 to 1.

So when Bitcoin broke below $60,000, XRP didn't stand a chance of holding firm. The setup here is arguably uglier than the last big flush. Bitcoin breaking below $60,000 for the first time since October 2024 — after Strategy broke its years-long never-sell rule and spot Bitcoin ETFs ended their longest outflow streak ever — created conditions worse than the February Iran-war crash, when buyers had stepped in at the $1.11 level that has now broken.

And the key support that bulls had been defending all year finally gave way. XRP was holding $1.28 — the level buyers had defended on every dip since February — barely a week ago, before sliding steeply with $1.11 broken and the $1 floor closing in.

XRP Price Analysis: Is XRP RISKY to Buy?

The daily chart paints a textbook bearish picture. Since topping out near the $1.50 resistance zone in mid-May, XRP has been locked inside a clean descending trendline — a steady sequence of lower highs and lower lows that has capped every bounce attempt.

The key technical takeaways:

• The downtrend is intact. Every rally since mid-May has been sold into at the descending yellow trendline. The mid-June bounce toward $1.30 failed exactly there before rolling over again.
• Broken support turned resistance. The $1.15 and $1.20 levels that once acted as support have flipped into overhead resistance. XRP now trades below both.
• The $1.00 line is the last stand. The green support line sits right at the psychological $1.00 mark. That's the level the entire chart is now gravitating toward.
• RSI at 40.53. Momentum is bearish but not yet deeply oversold on the daily. The RSI sitting around 40 means there's still room to fall before sellers are fully exhausted — a warning sign for anyone expecting an immediate bounce.

The structure is clear: until XRP can reclaim the descending trendline and flip $1.15 back to support, the path of least resistance points lower.

XRP price prediction: where does Ripple go next?

Here's where it gets interesting. The near-term picture hinges almost entirely on two things — Bitcoin and the CLARITY Act.

• The bearish case (downside to $1 and below). With $1.05 broken, the chart is thin. Analysts identify $1.13 as XRP's critical weekly support, noting that a confirmed break below it could bring the $0.90–$1 target zone into focus, citing Bitcoin's weakness as the key drag. Worse-case macro scenarios get uglier still — should Bitcoin drop beneath $60,000 while ETF decisions stall and regulatory progress halts, some projections suggest XRP could settle between $0.21 and $0.75. That's a tail risk, not a base case, but it shows how much damage a prolonged BTC breakdown could do.
• The bullish case (a violent snap-back). Here's the twist that makes XRP fascinating right now. While the price bleeds, on-chain data tells the opposite story. XRP whales now control 45.83 billion tokens — 68.5% of circulating supply, the highest concentration since May 2018 — and Binance whale outflow dominance recently hit 91.4%, the same reading that preceded XRP's rally from $0.50 to over $3 in late 2024. On top of that, positioning is extremely lopsided: short bets currently outweigh longs by roughly 9 to 1, meaning any surprise positive catalyst — like a Senate floor vote going through — could trigger a short squeeze that moves XRP far faster than fundamentals alone would suggest.
• The CLARITY Act is the wildcard. This is the single biggest swing factor. If the bill clears and the macro stabilizes, Standard Chartered forecasts XRP could hit $2.80, with the bullish analyst range extending toward $8 — but if the CLARITY Act stalls and slips to 2030 or beyond, prices could drop closer to $0.53. That's roughly 30–40% downside against 2.5x–7x upside, which is exactly why XRP holders are glued to this vote.

The levels that matter

For your XRP price prediction watchlist, keep these on the radar:

• Immediate support: $1.05, then the all-important $1.00 psychological floor.
• If $1 breaks: the $0.90 zone comes into play, with little technical support beneath.
• Upside reclaim: XRP needs to break back above the descending trendline and flip $1.15 into support to even begin repairing the structure. Above that, $1.20 and $1.30 are the next hurdles.

XRP Price Prediction: Will XRP Crash Below 1$?

XRP's crash to $1 isn't a Ripple problem — it's a Bitcoin problem, amplified by XRP's tendency to fall nearly twice as hard on every BTC drop. The daily chart is firmly bearish, the descending trendline is still in control, and the $1.00 line is the last meaningful support before things get really thin.

But the setup is a coiled spring. With whales accumulating, shorts dangerously crowded, and the CLARITY Act floor vote looming as a binary catalyst, XRP could see an explosive move in either direction. For now, respect the downtrend — but don't be surprised if a single headline flips this chart violently.

Bitcoin Crash Sends BTC Below $60K

Bitcoin is back under pressure after falling below the key $60,000 level, triggering a fresh wave of fear across the crypto market. The move came as major cryptocurrencies turned red, with Ethereum slipping below $1,600 and several top altcoins posting sharp daily losses.

This is no longer just a normal pullback. Bitcoin has now broken one of the most important psychological levels in the market, and traders are asking whether BTC could be heading toward $55,000 next.

The crash also comes at a dangerous time for crypto sentiment. Recent articles and market reactions already focused on the broader sell-off across stocks, crypto, and metals. But the latest move adds another layer of pressure: Strategy, formerly MicroStrategy, is now becoming one of the biggest fear points in the Bitcoin market.

Why This Bitcoin Crash Feels Different

Bitcoin has corrected many times before. What makes this drop more sensitive is the combination of three factors happening at once.

First, BTC has lost the $60,000 level, which many traders were watching as a key short-term support zone. Once this level broke, selling pressure accelerated quickly.

Second, Ethereum also dropped below $1,600, confirming that the weakness is not limited to Bitcoin. The broader crypto market is bleeding, with major coins such as BNB, XRP, Solana, Dogecoin, Zcash, Chainlink, and others also trading in the red.

Third, Strategy’s stock is crashing alongside Bitcoin. That matters because Strategy is not just another crypto-related stock. It is the biggest corporate Bitcoin holder in the world, and its entire market story has become deeply tied to BTC.

When Bitcoin falls and MSTR falls at the same time, investors start asking a much bigger question: is the Bitcoin treasury trade now becoming a risk instead of a strength?

Strategy’s Bitcoin Losses Are Now the Market’s Big Fear

Strategy currently holds around 847,363 BTC, acquired at an average price of roughly $75,651 per Bitcoin. That puts the company’s total Bitcoin acquisition cost at around $64.1 billion.

With Bitcoin trading near $59,300, Strategy’s Bitcoin stack is worth roughly $50.2 billion. That means the company is sitting on an estimated paper loss of about $13.9 billion compared with its acquisition cost.

If Bitcoin falls to $55,000, the value of Strategy’s BTC holdings would drop to around $46.6 billion. In that scenario, the estimated paper loss would widen to nearly $17.5 billion.

That does not mean Strategy has lost this money in cash. These are unrealized losses unless the company sells Bitcoin. But the market does not always wait for realized losses. It prices fear, pressure, and risk before the actual event happens.

This is why MSTR is now becoming such a central part of the Bitcoin crash story.

Are Strategy’s Losses Real or Just Paper Losses?

For investors, the answer is both.

On one side, Strategy’s Bitcoin losses are mostly paper losses as long as the company continues holding its BTC. If it does not sell, there is no direct realized loss from selling coins at a lower price.

But accounting-wise, the situation is more complicated. Under the newer fair-value accounting rules for crypto assets, changes in the value of Bitcoin can affect reported earnings. That means a major Bitcoin decline can show up as a fair-value loss on the income statement, even if the company does not sell the coins.

So the market is not only watching whether Strategy sells Bitcoin. It is also watching how the decline affects its balance sheet, its stock price, its ability to raise money, and investor confidence in the entire Bitcoin treasury model.

Could Strategy Be Forced to Sell Bitcoin?

There is no evidence that Strategy is being forced to sell Bitcoin right now. That is important.

The danger is not that forced selling is confirmed. The danger is that the fear of forced selling starts to dominate the market.

Strategy built its Bitcoin strategy by using capital markets, including stock issuance, convertible debt, and preferred shares. That model works best when MSTR trades at a strong premium and investors are willing to finance more Bitcoin accumulation.

But when BTC falls and MSTR crashes, that model becomes more fragile. If the stock keeps dropping, raising new capital becomes harder. If raising capital becomes harder, investors may start worrying about dilution, debt pressure, dividend obligations, or even the possibility that Strategy may eventually need to sell Bitcoin to manage obligations.

Again, this does not mean a sale is happening now. But markets often sell first and ask questions later.

That is why Strategy’s stock crash matters so much for Bitcoin. MSTR has become a leveraged symbol of Bitcoin confidence. If that confidence breaks, it can increase panic across the entire crypto market.

Bitcoin Price Prediction: Is $55K Next?

The key level now is $60,000.

If Bitcoin fails to reclaim $60,000 quickly, the bearish scenario becomes stronger. In that case, BTC could continue sliding toward the next major support zone around $55,000.

A move to $55,000 would not be surprising if panic continues across crypto and if MSTR remains under pressure. It would also represent a deeper reset of the Bitcoin rally, forcing traders to question whether the market is entering a longer correction phase.

The bearish path looks like this:

Bitcoin fails to recover $60,000, sellers defend the $60,000 to $62,000 zone, MSTR continues falling, and market fear pushes BTC toward $55,000.

However, the bullish case is not dead yet.

If Bitcoin quickly reclaims $60,000 and then moves back above $62,000, the crash could turn into a sharp bear trap. In that case, traders may see the drop as panic selling rather than the start of a deeper collapse.

For now, BTC needs to recover $60,000 first. Without that, the $55,000 target becomes the main level to watch.

Is This the End of the Crypto Era?

No, this does not look like the end of crypto. But it may be the end of the easy crypto leverage era.

The last cycle was driven by ETF optimism, institutional buying, treasury companies, corporate Bitcoin accumulation, and the idea that Bitcoin could keep rising as long as new capital kept flowing in.

Now the market is testing that idea.

If Strategy, the most famous Bitcoin treasury company, is sitting on massive paper losses while its stock crashes, investors may become more cautious toward every company trying to copy the same model.

That does not kill Bitcoin. But it does change the market narrative.

Bitcoin is no longer only trading on ETF flows, macro news, or halving-cycle expectations. It is now also trading on whether the biggest corporate BTC holder can survive a major drawdown without triggering more fear.

What Happens Next?

The next few days are critical.

If Bitcoin stabilizes above $60,000, the market may calm down and treat this crash as a painful but temporary correction. If BTC loses momentum and fails to recover, $55,000 becomes the next major downside target.

The Strategy situation will also be important. If MSTR stabilizes, it could reduce panic around the Bitcoin treasury trade. But if MSTR continues crashing, Bitcoin may face even more pressure as investors start questioning whether corporate BTC accumulation has turned from a bullish narrative into a systemic market risk.

For now, the Bitcoin price prediction is simple: BTC must reclaim $60,000 to avoid a deeper drop. If it fails, $55,000 could be next.

Bitcoin has cracked the psychological $60,000 floor, and the entire crypto market is drowning in red. After spending most of the day clinging to support, BTC broke down hard in the afternoon session and is now changing hands around $59,462 — a level not seen in months.

If you're wondering what's behind this crypto crash, you're not alone. Let's break down exactly what happened and why everything is falling apart at once.

Bitcoin Price Today: What Happened to Bitcoin?

The intraday damage is brutal. Bitcoin opened the day holding firm near the $62,651 previous close, even pushing toward $62,800 in the early hours. Then came the breakdown.

Looking at the chart, the real bleeding started around 15:00 UTC. After one last failed push higher, BTC rolled over and never looked back — a textbook lower-high, lower-low cascade. The drop accelerated through the afternoon, slicing through $62,000, then $61,000, then $60,000 like they weren't even there. By 20:00 UTC, Bitcoin had bottomed near $59,462, marking a decline of more than 5% on the day.

This wasn't a slow grind. It was a sharp, leveraged flush — the kind of move that triggers cascading liquidations and feeds on itself.

Crypto Crash Today: How bad is the damage across the market?

This is not a Bitcoin-only story. The entire top of the market is deep in the red:

• Bitcoin ($BTC): ~$59,447 — down 5.02% on the day, down 9.76% over 7 days, and a painful 32.07% in the red year-to-date.
• Ethereum ($ETH): ~$1,570 — down 5.48% today and a brutal 47.07% YTD, making it one of the worst performers among the majors.
• $BNB: ~$552 — down 3.87% on the day, holding up slightly better than the rest.
• $XRP: ~$1.05 — down 4.43% today and down 13.16% over the week, one of the heaviest weekly losers.
• Solana ($SOL): ~$65 — down 5.21% on the day and a staggering 47.44% YTD.

Only the stablecoins (USDT, USDC) are holding their pegs, as you'd expect. Everything else is bleeding, and the year-to-date numbers tell the bigger story: this isn't just a bad day, it's the continuation of a deep, grinding downtrend.

Crypto crash reason: why is everything falling?

So what's actually driving this? It's not one single trigger — it's a perfect storm of pressure points hitting at once.

1. Tech and AI stocks dragged everything down

The biggest immediate culprit is risk-asset spillover. Tech and AI stocks sold off sharply, dragging crypto and other risk assets lower, with major chipmakers and AI companies dropping on profit-taking and rotation out of high valuations, causing Bitcoin to move in tandem as investors turned defensive. When traders flee high-valuation tech, crypto gets caught in the same wave.

2. Sticky inflation and a hawkish Fed

Macro is still working against crypto. Ongoing worries over inflation and Fed rate cuts have kept investors cautious, with sticky inflation data delaying hopes for rate cuts and reducing appetite for high-risk assets. As long as rates stay high, speculative assets like Bitcoin stay under pressure.

3. Relentless ETF outflows

Institutional demand has been draining away. Modest but ongoing spot Bitcoin ETF outflows have added selling pressure and could intensify if they accelerate again. ETF flows are one of the clearest signals of institutional appetite, and right now that signal is flashing red.

4. The Saylor "never sell" narrative cracked

Sentiment took a structural hit earlier this cycle when Strategy made its first Bitcoin sale in over three years, breaking from the company's long-standing principle that Bitcoin should be amassed and never sold. Even though the dollar amount was tiny, the symbolic blow to market confidence still lingers.

5. The CLARITY Act catalyst is slipping away

The one bullish catalyst the market was banking on is fading. Bitcoin's key catalyst for renewed investor interest, the crypto market structure bill known as the Clarity Act, is drifting further out of reach as legislative priorities shift and lawmakers remain divided on key provisions. With no near-term regulatory green light, there's little to spark a relief rally.

Bitcoin Price Future: What are the key levels to watch now?

With $60,000 gone, the technical picture has turned ugly. On higher timeframes, $BTC remains in a clear downtrend with lower highs and lower lows, momentum stays bearish, and sellers remain in control unless a major catalyst appears.

On the downside, immediate support sits around the $55,000 level — both the February 2026 lows and a significant volume node — and a break below that would likely accelerate selling toward the $50,000–$52,000 range. On the upside, the old $60,000 floor now flips into resistance, and the immediate major resistance sits near $74,000 — a long way back up.

The Trump administration is pushing hard to get the crypto market structure bill across the finish line before lawmakers leave town. Negotiations have continued as Republicans aim to put the crypto bill on the floor ahead of Congress's August recess, even after the talks hit repeated snags over how much authority state attorneys general should have to enforce ethics rules.

For traders, this isn't just political theater. The CLARITY Act is widely seen as the single biggest regulatory catalyst hanging over the market right now — and the next few weeks could decide whether it becomes a price driver or another disappointment.

What is the CLARITY Act?

The Digital Asset Market Clarity Act — formally H.R. 3633 — is the framework meant to finally answer the question that has haunted US crypto for years: who regulates what. The legislation draws a line between the SEC's jurisdiction over securities and the CFTC's oversight of commodities as those categories apply to digital assets, and also tackles token classification, DeFi oversight, and consumer protections. 

The bill has already cleared major hurdles. The CLARITY Act passed the House 294-134 in July 2025, and the Senate Banking Committee advanced it 15-9 in May 2026. On June 1, 2026, it was placed on the Senate Legislative Calendar, making it formally eligible for full Senate floor consideration.

Why does the August recess matter so much?

Timing is everything here. More than 200 organizations, including Coinbase and Ripple, have urged the Senate to act before recess, warning that delay could effectively kill the bill's chances in this session.

The math is brutal. Once the legislation is finished — combining the banking and agriculture committee versions and adding an ethics provision — Senate leadership would need to set aside floor time, potentially a full week out of the handful remaining before the August break. Miss that window, and the next realistic shot slips toward September or the unpredictable post-election "lame duck" session.

The single number that matters most: the full Senate floor vote requires a supermajority of 60 votes to overcome a filibuster. Committee approval doesn't guarantee that.

How could the CLARITY Act affect Bitcoin's price?

Here's where it gets interesting for anyone watching their portfolio.

Markets are currently in wait-and-see mode. $Bitcoin has been consolidating near the low-$60K range as traders hold off on fresh positioning until the Senate delivers a verdict, with participants stuck in a cautious hold pattern heading into the vote. That kind of compression often precedes a sharp move once the uncertainty resolves — in either direction.

The bullish case is significant. Analysts argue a clean passage would remove one of the biggest overhangs on the market:

• Institutional clarity: The bill could provide clearer rules on token classifications, exchange operations, and institutional participation, reducing one of the biggest uncertainties weighing on the US crypto market. 
• Sector rotation: If passed, sectors such as DeFi, Layer 1s, Layer 2s, and real-world asset protocols could benefit the most.
• ETF inflows: Standard Chartered has projected $8 billion in $XRP ETF inflows on passage. 
• Short squeeze fuel: During the May committee vote, more than $550 million in leveraged Bitcoin short positions were sitting exposed to a squeeze if bullish momentum accelerated.

Price targets reflect that optimism. One intelligence outfit placed its 12-month Bitcoin trading band at $95,000 to $130,000 in the base case, anchored to Citi's $112,000, Bernstein's $150,000 target, and JPMorgan's $170,000 framework — with the most bullish scenarios reaching $200,000.

What happens to Bitcoin if the CLARITY Act fails?

The downside is just as real. A failed or stalled vote could send Bitcoin back toward the $75,000 region, while a successful one would strengthen institutional confidence. And the odds are far from a lock — Polymarket has priced 2026 passage at around 67%, down from 82% in February.

The sticking point remains the ethics language. The conflict-of-interest section meant to limit government officials from profiting off crypto has been contentious, partly because its genesis traces back to President Trump's own wide-ranging crypto interests — and White House officials have repeatedly said they won't tolerate a bill that targets the president. No ethics deal, no 60 votes.

Will CLARITY Act Increase Crypto Prices?

The CLARITY Act is shaping up as a binary catalyst. A floor vote before the August recess could be the green light institutional money has been waiting for, potentially uncorking the compressed range Bitcoin has been stuck in. A miss pushes the timeline into a far murkier window and risks a sentiment unwind.

For now, the market is holding its breath. Keep an eye on the 60-vote count and any ethics compromise language — those are the two dominoes that decide which way prices break.

How could the CLARITY Act affect Bitcoin's price?

Here's where it gets interesting for anyone watching their portfolio.

Markets are currently in wait-and-see mode. $Bitcoin has been consolidating near the low-$60K range as traders hold off on fresh positioning until the Senate delivers a verdict, with participants stuck in a cautious hold pattern heading into the vote. That kind of compression often precedes a sharp move once the uncertainty resolves — in either direction.

The bullish case is significant. Analysts argue a clean passage would remove one of the biggest overhangs on the market:

• Institutional clarity: The bill could provide clearer rules on token classifications, exchange operations, and institutional participation, reducing one of the biggest uncertainties weighing on the US crypto market. 
• Sector rotation: If passed, sectors such as DeFi, Layer 1s, Layer 2s, and real-world asset protocols could benefit the most.
• ETF inflows: Standard Chartered has projected $8 billion in $XRP ETF inflows on passage. 
• Short squeeze fuel: During the May committee vote, more than $550 million in leveraged Bitcoin short positions were sitting exposed to a squeeze if bullish momentum accelerated.

Price targets reflect that optimism. One intelligence outfit placed its 12-month Bitcoin trading band at $95,000 to $130,000 in the base case, anchored to Citi's $112,000, Bernstein's $150,000 target, and JPMorgan's $170,000 framework — with the most bullish scenarios reaching $200,000.

What happens to Bitcoin if the CLARITY Act fails?

The downside is just as real. A failed or stalled vote could send Bitcoin back toward the $75,000 region, while a successful one would strengthen institutional confidence. And the odds are far from a lock — Polymarket has priced 2026 passage at around 67%, down from 82% in February.

The sticking point remains the ethics language. The conflict-of-interest section meant to limit government officials from profiting off crypto has been contentious, partly because its genesis traces back to President Trump's own wide-ranging crypto interests — and White House officials have repeatedly said they won't tolerate a bill that targets the president. No ethics deal, no 60 votes.

Will CLARITY Act Increase Crypto Prices?

The CLARITY Act is shaping up as a binary catalyst. A floor vote before the August recess could be the green light institutional money has been waiting for, potentially uncorking the compressed range Bitcoin has been stuck in. A miss pushes the timeline into a far murkier window and risks a sentiment unwind.

For now, the market is holding its breath. Keep an eye on the 60-vote count and any ethics compromise language — those are the two dominoes that decide which way prices break.

The price of Bitcoin rapidly fell to nearly $58,000 after Strategy's STRC preferred shares notched a new low and MSTR fell alongside.

Police disrupted SocGholish, Amadey, and StealC, malware that harvests crypto wallets and passwords, freezing €41 million in crypto.

A massive Micron earnings beat has lifted global markets, pushing crypto higher after yesterday's nasty sell off took BTC sub-$60k.

The prediction market seeks a valuation near double the $22 billion it hit last month, as a federal-state fight over regulation escalates.

Bitcoin to $500K, Ethereum to $40K, and Aave to $3,500 by the end of 2030? Standard Chartered just laid out some bullish price targets.

Japanese financial conglomerate SBI Group has significantly expanded its digital asset footprint with the multi-stage, 46.7 billion yen ($289 million) acquisition of Bitbank.

BlackRock makes another Bitcoin and Ethereum deposit, sparking concerns about its continued sell attempts as the price of both crypto assets plunges lower.

Experts prove how Satoshi Nakamoto's 22,000-wallet strategy in 2010 mathematically neutralizes the Bitcoin quantum threat.

The latest increase pushes Shiba Inu closer to a much watched milestone in its holder count.

XRP nears the threshold that determines the current market structure, even though the continuation is a question of time.

Key Highlights

• Adobe shares decline to $195.96 following Topaz Labs acquisition announcement.

• Topaz Labs brings advanced AI-powered video upscaling and image restoration capabilities.

• Integration planned for Firefly and Creative Cloud suite of applications.

• Topaz Labs will continue operating independently as standalone products.

• Acquisition aims to enhance professional-grade image and video production workflows.

Adobe (ADBE) stock experienced a 0.30% decline, closing at $195.96 after an earlier intraday rebound lost momentum by market close. The software giant revealed plans to acquire Topaz Labs, a specialist in AI-driven image and video enhancement technology. This strategic move will broaden Adobe’s creative software offerings and reinforce its competitive standing in professional content creation markets.

Adobe Inc., ADBE

Topaz Labs Technology Set to Join Adobe’s Creative Ecosystem

Topaz Labs specializes in creating software that enhances image sharpness, eliminates digital noise, restores degraded footage, and upscales video resolution to professional standards. The company’s technology portfolio includes advanced stabilization features, frame interpolation capabilities, and sophisticated upscaling systems that work across diverse content types. Adobe intends to weave these advanced features into its Firefly platform, Firefly Services infrastructure, and the broader Creative Cloud application suite.

This technological merger will benefit a wide range of creative professionals including photographers, video producers, graphic designers, digital content creators, and enterprise-level organizations already utilizing Adobe solutions. The enhanced capabilities will enable seamless blending of captured footage with AI-generated imagery while preserving uniform quality standards. Additionally, the tools will prove invaluable for restoration projects involving damaged archival materials or aging visual content requiring remastering.

Topaz Labs currently serves a customer base numbering in the millions, offering specialized standalone applications for both professional production environments and personal creative projects. The company’s software has become essential for filmmakers requiring precise color grading, photographers demanding maximum detail extraction, social media influencers optimizing content quality, and archival specialists performing restoration work. Following deal completion, Adobe confirmed that Topaz Labs products will remain purchasable as independent offerings through the company’s direct sales channels.

On-Device Processing Capabilities Enhanced Through Neurostream Technology

Beyond the software portfolio itself, this acquisition grants Adobe ownership of Topaz Labs’ proprietary Neurostream technology platform. Neurostream represents a breakthrough in computational efficiency, enabling resource-intensive enhancement algorithms to execute directly on standard consumer hardware rather than requiring cloud infrastructure. This architectural approach allows creative professionals to tackle demanding visual projects using local computing resources exclusively.

Processing work locally delivers multiple advantages including reduced latency during production workflows, enhanced security for confidential project files, and continued productivity in environments with unreliable internet connectivity. This capability enables Adobe to democratize access to sophisticated video enhancement features across broader hardware configurations and diverse customer segments.

Adobe has been systematically expanding its toolkit for workflows that merge traditionally captured content with algorithmically generated visual assets. The company’s current product lineup encompasses industry-standard applications like Photoshop for image editing, Lightroom for photography management, Premiere for video production, Firefly for generative AI, and numerous enterprise-focused creative services. Topaz Labs contributes specialized enhancement systems that elevate detail resolution, visual clarity, motion smoothness, and overall production value.

Transaction Timeline and Operational Continuity

Adobe anticipates completing the acquisition during the latter half of 2026, subject to standard regulatory review processes and customary closing conditions. Neither company disclosed specific financial terms associated with the transaction.

Eric Yang, who currently serves as Chief Executive Officer of Topaz Labs, will retain his leadership position following the acquisition’s completion. Adobe has committed to maintaining robust customer support infrastructure and continuing product development investment for the Topaz Labs brand. Current subscribers and users should experience uninterrupted access to their existing tools throughout the integration period.

This acquisition reflects intensifying market demand for premium-quality visual content across digital publishing platforms, streaming services, and professional production studios. Modern content creators navigate increasingly complex workflows spanning multiple output formats, diverse hardware platforms, and varied distribution ecosystems while juggling both captured and synthetically generated media assets. By incorporating Topaz Labs’ enhancement technology throughout its flagship creative applications, Adobe positions itself to address these evolving production requirements comprehensively.

The post Adobe (ADBE) Stock Dips as Company Acquires Topaz Labs to Boost AI Enhancement Tools appeared first on Blockonomi.

TLDR:

• Spark deploys $150M in shared stablecoin liquidity across Uniswap v4 USDS/USDT and USDS/PYUSD pools.
• Uniswap v4 hooks enable programmable liquidity that adapts to market conditions and inventory needs.
• Sky’s USDS serves as the quoting asset and liquidity foundation for the new FX Layer.
• The infrastructure allows stablecoin issuers to tap shared liquidity instead of building isolated pools.

Spark has introduced the Stablecoin FX Layer, a shared liquidity infrastructure built on Uniswap v4. The launch brings approximately $150 million in liquidity across USDS/USDT and USDS/PYUSD pools.

As stablecoin issuance expands across banks, fintechs and payment networks, fragmented liquidity has become a core challenge.

This infrastructure aims to coordinate capital across issuers rather than leaving each to build isolated pools from scratch.

Programmable Liquidity Addresses a Fragmented Market

The stablecoin market has grown considerably, with Chainalysis reporting more than $28 trillion in economic transaction volume processed during 2025.

PayPal, Ripple and major banking consortiums across Europe and Asia have all launched or are exploring stablecoin initiatives.

Every new issuer, however, creates a separate liquidity ecosystem. Capital becomes scattered across venues, raising execution costs and reducing efficiency across the board.

Traditional liquidity infrastructure treats capital as a passive resource sitting idle between transactions. That model worked when stablecoin pools primarily served as simple trading venues.

Today, with hundreds of issuers potentially entering the market, coordination has replaced issuance as the central problem.

J.P. Morgan projects global cross-border payment flows will grow from roughly $194.6 trillion in 2025 to more than $320 trillion by 2032.

Uniswap v4 addresses the technical side through hooks, which allow custom logic to be embedded directly into pool behavior.

Spark’s DualPool hook operates as one execution component within the broader Shared Liquidity Layer. Rather than leaving liquidity static, the hook allows capital to remain productive when not actively required for market execution.

Spark introduces governance-defined allocation frameworks and a five-layer loss absorption structure to manage how that programmable liquidity behaves.

The coordination layer determines risk parameters, inventory policies and allocation objectives. This transforms pools from passive venues into active infrastructure responding to market conditions.

As Spark noted in its announcement: “Every new stablecoin fragments liquidity. The Stablecoin FX Layer allows stablecoins to access shared liquidity instead of building isolated pools.” The initial $150 million deployment across two pools represents one of the largest AMM liquidity migrations in DeFi history.

Shared Infrastructure Targets the Multi-Issuer Economy

The initial deployment uses USDS as the quoting asset across both pools, with Sky providing the liquidity foundation.

Sky operates one of the largest stablecoin ecosystems in DeFi, with billions of dollars across USDS, DAI and associated savings infrastructure. That scale gives the FX Layer the depth required to serve institutions, payment providers and exchanges from launch.

Deeper liquidity directly reduces slippage and lowers execution costs for traders and settlement providers. These improvements make USDS one of the more accessible stablecoins to integrate at scale.

The benefits extend beyond any single pair, establishing a blueprint for how additional issuers can connect into the same shared infrastructure.

Bloomberg Intelligence projects annual stablecoin payment flows could reach $56.6 trillion by 2030. That growth requires infrastructure capable of connecting hundreds of issuers without forcing each to rebuild liquidity independently. Under this model, issuers contribute to shared depth rather than compete for fragmented capital.

Future implementations may allow liquidity to generate yield linked to short-term rates such as SOFR while remaining available for settlement.

That would allow institutions to narrow the historical gap between capital productivity and liquidity availability. The goal is to keep inventory working rather than sitting idle.

The long-term vision positions the Stablecoin FX Layer as the exchange and settlement backbone for a multi-issuer stablecoin economy.

Each new issuer joining the network adds liquidity rather than fragmenting it further, creating compounding network effects over time.

The post Spark Launches Stablecoin FX Layer on Uniswap v4 With $150M in Liquidity appeared first on Blockonomi.

Key Highlights

• Shares of Macy’s reached a fresh 52-week peak at $25.67, gaining approximately 1.84% during the session
• TD Cowen upgraded its price objective from $20 to $25 while keeping a Hold stance
• First-quarter fiscal 2026 earnings per share landed at $0.13, significantly surpassing the $0.03 projection
• First-quarter sales totaled $4.7 billion, exceeding analyst expectations of $4.61 billion
• UBS maintains a Sell recommendation with a $9.00 target, expressing concerns about competitive positioning

Macy’s shares have been climbing steadily, and Wednesday marked a milestone — the stock touched a new 52-week peak of $25.67 per share, representing roughly a 1.84% gain for the session.

Macy’s, Inc., M

The upward movement follows TD Cowen’s decision to boost its price objective from $20 to $25. While maintaining a Hold recommendation, the firm highlighted better merchandising execution and an improved brand portfolio as catalysts for the revision. Shares initially spiked 3.9% following the announcement before moderating to approximately $24.87.

This fresh analyst scrutiny comes after an impressive first-quarter fiscal 2026 performance. Macy’s delivered earnings per share of $0.13 — substantially exceeding the $0.03 consensus estimate that analysts had anticipated. Sales reached $4.7 billion, topping the $4.61 billion forecast. Comparable store sales increased 3% for the quarter, more than doubling the projected 1.4% growth.

Bloomingdale’s played a significant role in these results. The upscale division reported comparable sales growth of 10.2% during the first quarter, significantly outpacing the core Macy’s brand and providing substantial support to consolidated figures.

Conflicting Analyst Perspectives

However, not all Wall Street observers share the optimism. UBS continues to maintain its Sell recommendation with a $9.00 price objective — representing a substantial discount from current trading levels. Their bearish stance revolves around ongoing market share deterioration, a persistent challenge facing traditional department store retailers.

InvestingPro analysis introduces another consideration: despite robust price momentum, the platform suggests the shares appear overvalued compared to fair value calculations. The price-to-earnings multiple stands at 10.43, which appears reasonable, yet the remarkable 138.66% total return over the past year has elevated the stock into valuation territory that certain analytical models view as extended.

That twelve-month return deserves emphasis. Shareholders who held positions in Macy’s a year ago have witnessed their investment value more than double.

Broader Market Influences

The stock also benefited from favorable macroeconomic developments. In early June, equity markets rallied sharply after President Trump reversed plans for military strikes against Iran following successful diplomatic negotiations. The S&P 500 climbed 1.4% and the Nasdaq advanced 1.8% during that trading session, while Macy’s shares jumped 6.8% that single day.

Macy’s has experienced significant price swings throughout the year — the stock has posted daily movements exceeding 5% on twenty different occasions over the past twelve months.

Since the beginning of the year, shares have appreciated 9.3%. To provide perspective, a $1,000 investment in Macy’s five years ago would have grown to approximately $1,279 today.

The stock is presently trading near its 52-week high of $25.66, with InvestingPro assigning the company a financial health score of 3.12 out of 5.

The post Macy’s (M) Stock Hits 52-Week High Following TD Cowen Upgrade — Can Momentum Continue? appeared first on Blockonomi.

Key Takeaways

• HIVE Digital stock dropped 10.64% to close at $3.70 following the convertible notes announcement.

• The company’s subsidiary will issue exchangeable senior notes maturing in 2031 with zero regular interest.

• Funds raised will be allocated toward GPU acquisition, data center infrastructure, and general corporate purposes.

• Initial purchasers hold a $15 million overallotment option that could boost total proceeds to $115 million.

• The company will enter capped call transactions designed to minimize shareholder dilution risks.

Shares of HIVE Digital Technologies (HIVE) experienced a sharp 10.64% decline to $3.70 during intraday trading after the blockchain infrastructure company disclosed plans for a significant financing initiative. The convertible debt structure raises concerns about potential equity dilution as these securities may eventually convert into HIVE common stock. Proceeds will support corporate operations, GPU infrastructure investments, and expanded data center capabilities.

HIVE Digital Technologies Ltd., HIVE

Company Unveils Convertible Debt Structure

HIVE revealed that its Bermuda subsidiary intends to issue $100 million in exchangeable senior notes with a 2031 maturity date. The private placement will be marketed exclusively to qualified institutional buyers through Rule 144A provisions. Underwriters have been granted an option to purchase an additional $15 million in notes within 13 days of the initial closing.

These debt instruments will not accrue regular periodic interest, and the principal amount remains fixed without appreciation. HIVE will provide a senior unsecured guarantee backing the subsidiary’s payment obligations. Final pricing and the initial exchange ratio will be established when the offering officially prices.

The issuing entity maintains the right to satisfy conversion requests through cash delivery, HIVE common shares, or a mixed settlement approach. While this framework offers operational flexibility, it simultaneously introduces the possibility of shareholder dilution. The market reacted negatively to this news, driving HIVE stock lower throughout the session.

Capital Allocation Focuses on Computing Infrastructure

HIVE intends to transfer the raised capital to one or multiple subsidiary entities under its control. These operating units will deploy the funds toward capital expenditure programs and routine corporate requirements. Priority investments include high-performance graphics processing units and ongoing data center infrastructure buildouts.

A portion of the proceeds may be earmarked to cover expenses related to the capped call hedge program. HIVE anticipates using existing cash reserves to initially finance these derivative transactions. The issuing subsidiary could subsequently reimburse HIVE once the notes offering completes.

Should underwriters exercise their overallotment privilege, the incremental $15 million would flow toward comparable operational and infrastructure investments. HIVE retains the option to execute supplementary capped call agreements corresponding to any additional notes issued.

Hedge Program Designed to Mitigate Shareholder Dilution

HIVE plans to execute cash-settled capped call agreements with multiple financial counterparties. These derivative contracts will reference the quantity of common shares initially linked to the exchangeable securities. The hedging strategy aims to minimize economic dilution that would otherwise occur when bondholders convert their notes into equity.

The arrangements may also neutralize excess cash obligations beyond the notes’ face value. Protection remains effective only within predetermined strike price boundaries. HIVE may establish supplementary capped call positions if the full greenshoe allocation is exercised.

Counterparty financial institutions are expected to acquire HIVE shares or establish derivative positions as part of their initial hedging strategy. These entities may subsequently modify their positions through additional stock transactions or derivative adjustments. HIVE acknowledged that such hedging activities could influence its share price dynamics both before maturity and throughout any conversion observation windows.

The post HIVE Digital Technologies (HIVE) Stock Drops 10% Following $100M Convertible Notes Announcement appeared first on Blockonomi.

Key Takeaways

• The Dow rallied more than 700 points as investors shifted capital away from technology giants
• Micron Technology shares climbed over 10% following record quarterly results and optimistic guidance
• Qualcomm revealed plans to expand into data center markets, projecting $15 billion in AI-driven revenue
• May’s PCE inflation reading of 4.1% sustained speculation about potential rate increases
• Crude oil dropped to levels not seen since the Iran conflict, with Brent trading near $74 per barrel

A significant divergence emerged across U.S. equity markets on Thursday, June 25, as the Dow Jones Industrial Average surged 733 points, representing a 1.4% advance, while the Nasdaq Composite declined approximately 0.6% during midday trading. The S&P 500 posted a moderate 0.5% increase.

The market bifurcation reflected a clear pattern: capital flowing away from technology behemoths and into alternative sectors.

Over 80% of S&P 500 constituents were positioned to finish the session in positive territory. However, the Roundhill Magnificent Seven ETF tumbled 2%, creating headwinds for the Nasdaq.

Notable decliners included Dell Technologies, Albemarle, Apple, EchoStar, and Palantir Technologies.

Micron Powers Market Leadership

Micron Technology emerged as Thursday’s market leader. The semiconductor manufacturer delivered record-breaking quarterly performance that exceeded analyst projections and provided forward guidance above expectations.

Shares rallied more than 10% following the announcement. The robust results signaled strong demand for memory products linked to artificial intelligence infrastructure development.

While the earnings surprise temporarily boosted market confidence, the positive momentum failed to spread uniformly across technology shares.

Qualcomm captured investor attention as well. The chip designer unveiled its strategic expansion beyond mobile devices into data center infrastructure, including processors and server systems designed for AI applications.

Qualcomm outlined ambitious revenue targets of $15 billion from these new initiatives. The company’s stock appreciated roughly 5% following the disclosure.

PCE Data Maintains Rate Hike Uncertainty

The Personal Consumption Expenditures index, which serves as the Federal Reserve’s primary inflation benchmark, indicated a 4.1% annual price increase in May, matching economist predictions. On a monthly basis, prices advanced 0.4%, coming in marginally below consensus estimates.

The figures sustained ongoing discussions regarding potential interest rate increases. Elevated borrowing costs typically pressure growth-oriented equities, which comprise a substantial portion of the Nasdaq.

Concurrently, market participants shifted allocations toward sectors perceived as more resilient in higher-rate environments. Industrials, health care, materials, financials, utilities, and energy all attracted buying interest.

Oil prices retreated to their lowest points since the Iran conflict, with Brent crude edging up modestly to approximately $74 per barrel and West Texas Intermediate hovering near $70.

The two-year Treasury yield, closely monitored by traders as an indicator of Federal Reserve policy trajectory, has been signaling potential rate adjustments ahead.

Treasury yields declined following the PCE release, while the dollar also weakened.

Markets continue to demonstrate heightened sensitivity to Federal Reserve communications as the debate between maintaining current rates and implementing increases extends into the latter half of 2026.

The post Why the Dow Soared 700 Points While Nasdaq Tumbled: Market Rotation Explained appeared first on Blockonomi.

It’s another painful day in the cryptocurrency markets, especially for the altcoins. Ethereum, which traded at roughly $1,800 just over a week ago, tumbled toward $1,500, but it’s yet to break its negative June record, at least for now.

In contrast, Ripple’s XRP has been at the forefront of the latest declines. The token plunged to just over $1.00 minutes ago, which became its lowest price tag since late 2024.

Analysts, even those who have been predominantly bullish on XRP’s future price trajectory, have warned that the asset could unravel if it decisively loses the psychologically important $1.00 level.

CasiTrades, for example, warned that the token could drop to a low of $0.87 before it rebounds. Ali Martinez was even more bearish, outlining targets of below $0.70 and all the way down to $0.15 in a very extreme scenario.

Many other altcoins have posted similar losses in the past hour alone. SOL is down by over 3.5%, ZEC has plunged by 4%, while ADA is close to breaking below $0.14 after a 3.7% drop.

Naturally, the liquidations have skyrocketed given this enhanced volatility, especially since BTC broke below $59,000 and plummeted to $58,000.

Expectedly, BTC is responsible for the lion’s share. Over $320 million worth of longs have been wiped out in the past hour alone. ETH follows suit with nearly $140 million, while XRP is third with just over $40 million – all from longs.

In total, the liquidations are up to $630 million in the past hour, and $600 million is from longs. The total value for the past day is $1.5 billion, with $1.22 billion from longs.

The post Over $600M Liquidated in 1 Hour as XRP, ETH Mimic BTC’s Massive Price Crash appeared first on CryptoPotato.

In what appears to be a repeat of yesterday’s developments, bitcoin’s price has headed south once again, but this time it even plunged below $59,000 for the first time in nearly two years.

With no other major catalysts known at the moment, all roads seem to be leading today to Michael Saylor’s Strategy and the FUD around it.

BTC’s New Drop

As reported yesterday, Strategy’s main stock, MSTR, plummeted by 10% to a then-two-year low of $93. Bitcoin reacted with a similar decline to $59,050, but managed to rebound and even jumped to almost $62,000 earlier today.

This became another dead-cat bounce, though. The bears stepped up once again in the past 30 minutes or so, driving the cryptocurrency to its lowest position since before the US presidential elections in late 2024 at $58,000.

Although the asset has found support for now at this point, the overall landscape remains highly bearish, with BTC dumping by well over $20,000 in six weeks.

Analysts continue to relate the cryptocurrency’s adverse price moves to those of Strategy’s MSTR and STRC. The former is down by another 7% to a new multi-year low today of $88, with KALEO predicting another massive leg down toward $25. STRC is far off its par price of $100, currently trading at $76, which essentially increases the pressure on both the company and its massive BTC holdings.

Liquidations Pop

With most altcoins mimicking bitcoin’s massive crash, it’s no wonder that the total value of wrecked positions is on the rise. In fact, there have been almost $500 million worth of liquidations in the past hour alone, with nearly all of them coming from longs.

The 24-hour scale is even more painful, as data from CoinGlass shows a $1.3 billion wipe-out. More than 210,000 traders have been wrecked within the same timeframe. The single-largest liquidation took place on Binance and was worth over $19 million.

The post Déjà Vu: Bitcoin Tumbles Below $59K as Strategy’s MSTR Crumbles Again appeared first on CryptoPotato.

The leading cryptocurrency has been in a clear decline lately, with the downturn intensifying over the past 24 hours as the price briefly tumbled below $60,000 for the second time this month.

As expected, the latest pullback has prompted a wave of doomsday predictions, with some claiming that bitcoin is “going to zero.” The popular American businessman and media personality, Dave Portnoy, floated the idea, but numerous industry participants dismissed the grim scenario.

‘The Bitcoin Journey is a Hero’s Journey’

The founder and CEO of Barstool Sports created a heated debate on X with his post. Several hours ago, he urged “all the bitcoin and crypto people who say it’s going to a million and how it’s the future” to convince him that the digital asset is not a scam and not headed toward rock bottom at $0.

“Cause it seems like it’s going to zero,” he added.

What followed was a massive wave of support toward BTC and its fundamentals, along with accusations that Portnoy simply speaks of things he doesn’t understand. One of the prominent people presenting strong arguments in favor of the cryptocurrency was Jack Mallers. The founder and CEO of Strike reminded that over the past 13 years, BTC has been the subject of such forecasts numerous times, especially after catastrophic events like Mt. Gox’s crisis and FTX’s meltdown.

Yet somehow, BTC is still around with a market capitalization of over $1 trillion, Mallers noted. He said the asset has been “the best thing I could have poured my life into over the last 13+ years.” Mallers then moved on to give Portnoy important advice:

“The Bitcoin journey is a hero’s journey. You kill your ego. You surrender the idea that you’re the all-knower of the future, the main character, and important enough to matter to this thing. Bitcoin doesn’t care what you think, and it doesn’t need your permission. You either have the balls to build conviction in it, or you don’t.”

Last but not least, Mallers challenged Portnoy to sell his BTC if he believes in the government and its ability “to not print away” people’s purchasing power.

Altcoin Daily also joined the discussion. The X user described BTC as “a global gold 2.0” that people can “actually own, send globally, and hold without a bank, CEO, or government changing the rules.”

“You know value and price are not the same thing. The internet crashed, too. It still changed the world,” they added.

Historically, BTC cycle bottoms have coincided with peak pessimism, when numerous people declared the asset dead or insisted that “it’s going to zero.” Some of the commentators on Portnoy’s post outlined that parallel, arguing that the market floor might be near.

Shift Focus From BTC

Portnoy has long stirred controversy with his Bitcoin takes, initially calling the asset a “Ponzi scheme.” He then softened his tone and withdrew his scam claims.

He also has experience in the meme coin sector, launching tokens such as GREED, GREED2, and JAILSTOOL, which experienced massive price volatility and severe crashes. Several X users reminded him of those efforts, predicting that BTC will recover sooner or later, but the dubious coins he once shilled are unlikely to rise from the dead.

The post ‘It Seems Like BTC is Going to Zero?’ Prominent Voices Explain Why Dave Portnoy Is Wrong appeared first on CryptoPotato.

Jiang Zhuoer, co-founder of BTC.TOP mining pool, on June 25 published a long-term prediction for Bitcoin (BTC), saying it could bottom between $42,000 and $44,000 sometime in the October-to-December 2026 window.

Jiang made the call while the OG cryptocurrency was trading near $62,000, down about 51% from its all-time high above $126,000, which was set in October 2025.

MSTR Sentiment May Lead to the Next Bitcoin Bottom

According to the miner, Strategy’s mNAV ratio, which compares its share price with the value of its BTC holdings per share, has entered the same range seen during the previous bear market. An mNAV reading above 1 suggests that investors are paying a premium, while a figure below 1 means there’s pessimism brewing.

Per Jiang’s assessment, that metric has fallen to 0.72, very close to the 0.70 level recorded in May 2022. He argued that the current reading may signal a sentiment low for Strategy investors, although not necessarily for Bitcoin itself.

When mNAV bottomed in May 2022, as the analyst explained, BTC was trading near $31,000 and went on to reach a cycle low six months later when it dropped to around $15,000. If that same lag applies now, Jiang postulated that the flagship crypto will reach a low in Q4 2026, with prices falling to roughly $42,000 to $44,000.

His prediction also relied on a 4-year market model that compares Bitcoin’s long-term price swings to a bouncing ball, where each bounce results in the loss of amplitude. According to the model, as BTC’s total market cap grows, its volatility naturally decreases cycle by cycle.

Strategy MSTR stock recently fell to its lowest level since February 2024, and was changing hands at just above $94 at the time of writing. Meanwhile, the company’s preferred STRC shares have also been trading below their par value of $100, with data from the firm showing it stood at $80.84, and this, Jiang says, has also contributed to the current market stress, with other analysts suggesting it could pressure Strategy to sell some of its Bitcoin.

Market Context Around Jiang’s Call

Bitcoin’s current weakness is not hard to see in the data, with Santiment noting earlier today that wallets holding between 10 and 10,000 BTC had dumped 45,074 coins over an 8-day period, helping push the asset below $60,000 for the first time since October 2024. CoinGlass data showed nearly $416 million in Bitcoin liquidations in the last day, with long positions accounting for more than $319 million.

Analyst Wise Crypto described the move as a leverage flush, with more than 175,000 traders affected when BTC briefly touched $59,000. The asset has since made some recovery from that dip and was trading close to $62,000 at press time, although it was still down about 4% in the last week and almost 20% over the past month.

Meanwhile, another market watcher, Ali Martinez, flagged that the Coinbase Premium Index has been negative for 46 straight days. The metric compares the price of Bitcoin on Coinbase with offshore exchanges, with a negative reading suggesting weaker demand from American investors and institutions.

The post Prediction: Bitcoin Could Bottom Between $42K and $44K This Year appeared first on CryptoPotato.

The veteran US exchange has tapped the 2019-founded Maple, one of the largest on-chain institutional asset management platforms with TradFi and crypto experience, to introduce a lending structure commonly used in traditional finance to blockchain-based markets.

It will be denominated in USDC and will support Kraken’s over-the-counter (OTC) lending business by enabling institutional clients to borrow against their BTC and ETH holdings rather than selling them.

Traditional Credit Meets Blockchain

According to the joint statement from the two companies, the transaction is one of the first to replicate the structural safeguards of asset-backed securities (ABS) markets entirely on-chain. This facility, they added, was built around a dedicated special-purpose vehicle (SPV), which aims to remain bankruptcy-remote. At the same time, Kraken affiliates originate, service, and retain the junior portion of the loans.

The statement explained that this first-loss position means the exchange absorbs potential losses before senior lenders are affected. This should align incentives between borrowers, lenders, and the platform.

Warehouse financing has served as a cornerstone of traditional credit markets for a long time, helping fund products such as mortgages, auto loans, and consumer lending before they are packaged into larger investment vehicles.

Under the newly-launched structure from Maple and Kraken, the BTC and ETH collateral will be held by a Wyoming-chartered Special Purpose Depository Institution (SPDI), which is also a regulated qualified custodian. Independent SPV administrator Zaria will oversee the facility’s administration.

“The infrastructure that powers a multi-trillion-dollar ABS market in traditional finance has never existed on-chain, until now. This Facility applies that model to digital asset collateral in a fully on-chain environment, with the structural protections institutions actually require,” commented Sidney Powell, CEO and Co-Founder, Maple.

Arjun Sethi, Kraken’s Co-CEO, noted that this facility comes as a growing number of the company’s clients have requested access to the same capital formation tools that have powered traditional credit markets for decades.

Kraken, Deutsche, Nasdaq

The move with Maple follows other significant endeavors made by the veteran exchange, including partnering with Nasdaq to develop tokenized equities and further bridge traditional capital markets with blockchain-based financial systems.

The collaboration will see the Kraken’s tokenized equity product, xStockz, power a permissionless infrastructure later designed to support Nasdaq’s issuer-sponsored equity tokens.

Separately, Deutsche Börse acquired a $200 million stake in Kraken in mid-February, which puts the exchange’s parent company’s valuation at $13.3 billion.

The post Kraken and Maple Bring Institutional Credit Infrastructure Fully On-chain appeared first on CryptoPotato.