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Crypto & Web3CoinDesk ·

Ripple Proposes XRPL Standard to Let Institutions Borrow Against Tokenized Assets

Ripple has put forward a new technical standard for the XRP Ledger that would enable institutions to use tokenized assets as loan collateral. Under the proposal, the blockchain itself would enforce loan terms automatically. However, credit underwriting decisions would remain in the hands of human teams rather than being automated. The standard is not yet active and requires approval from XRPL validators before it can be implemented.

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Crypto & Web3CoinDesk ·

BNY Mellon Expands Stablecoin Services with USDC Custody and Minting

BNY Mellon, the world's largest custody bank, is broadening its digital asset offerings by adding custody and minting services for Circle's USDC stablecoin. The move is aimed at institutional clients seeking regulated exposure to stablecoins. This expansion reflects the growing integration of stablecoins into traditional financial infrastructure. BNY Mellon's involvement signals increasing confidence among legacy financial institutions in digital dollar instruments.

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Crypto & Web3CoinDesk ·

Strategy may sell Bitcoin to fund reserves, dividends, and $2B buybacks

Strategy has unveiled a new capital plan that opens the possibility of selling its Bitcoin holdings under certain financial conditions. The proceeds from any such sales could be directed toward building a USD reserve for the company. The plan also allows Bitcoin sales to support dividend payments on preferred shares. Additionally, up to $2 billion in stock buybacks could be financed through this arrangement. The move marks a notable shift, as Strategy has long been known for aggressively accumulating rather than liquidating Bitcoin.

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Crypto & Web3CoinDesk ·

Ukraine moves $8.3M in seized crypto linked to hacker money-laundering probe

Ukraine has transferred $8.3 million worth of cryptocurrency that was previously seized by authorities. The funds were confiscated as part of an investigation into an international hacker group. The group was accused of laundering money obtained through data theft, channeling proceeds into high-value property. The transfer comes amid reports that Ukraine may be considering establishing a strategic crypto reserve.

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Crypto & Web3CoinDesk ·

BlackRock integrates Ethena into Aladdin platform, boosting ENA token by 8%

BlackRock has expanded its presence in decentralized finance by integrating Ethena into its Aladdin investment management platform. The partnership grants BlackRock's institutional clients access to Ethena's yield-generating token. The deal also establishes a liquidity facility tied to BlackRock's tokenized products. Following the announcement, Ethena's native token ENA rose approximately 8% in value.

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Crypto & Web3CoinDesk ·

Kalshi and Polymarket may face acquisition bids as prediction market sector consolidates

Brokerage firm Bernstein has identified Kalshi and Polymarket as potential merger and acquisition targets amid growing consolidation in the prediction markets industry. The firm noted that operational convergence is increasingly blurring boundaries between exchanges, brokerages, and sportsbooks. This overlap is creating favorable conditions for acquisitions across the broader prediction market ecosystem. As the sector matures, larger players may look to absorb prominent platforms to expand their market footprint.

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Crypto & Web3CoinDesk ·

Bitmine buys more ETH as Tom Lee links crypto dip to quarter-end selling

Cryptocurrency investment firm Bitmine has made an additional Ethereum purchase worth $43 million, though it was the company's smallest acquisition since early May. Market strategist Tom Lee attributed the recent weakness in crypto prices to so-called 'window dressing' by investors. This practice involves portfolio managers selling underperforming assets before the close of a quarter to improve the appearance of their holdings. Lee suggested the selling pressure was tied to investors cutting losses ahead of the second half of the year. The combination of Bitmine's continued accumulation and Lee's commentary comes amid a broader period of softness in cryptocurrency markets.

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Crypto & Web3CoinDesk ·

JPMorgan: Institutional Appetite for Perpetual Futures Remains Weak

JPMorgan has assessed that institutional demand for perpetual futures contracts remains largely subdued. The bank noted that these derivatives are better suited to speculative trading rather than serving as effective hedging tools. As a result, institutional investors, who typically prioritize risk management, have shown limited interest in the products. The findings suggest perpetual futures continue to attract a more retail and speculative trading audience rather than large financial institutions.

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Crypto & Web3CoinDesk ·

Strategy Authorizes $2B Buyback and Bitcoin Monetization Program, Raises STRC Dividend

Strategy has unveiled a new capital management framework with two major components. The company has authorized up to $2 billion in share buybacks as part of the plan. Additionally, a new program has been established that permits future bitcoin sales to support the company's liquidity needs. The announcement was accompanied by a dividend increase for its STRC preferred stock.

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Crypto & Web3CoinDesk ·

USDT trades at 8.5% premium in India after Bengaluru crypto payment raids

The stablecoin USDT has surged to an 8.5% premium over the US dollar on Indian crypto platforms following a crackdown on crypto payment firms in Bengaluru. Authorities conducted raids on these firms, disrupting the supply chain that delivers the dollar-pegged stablecoin to local exchanges. The resulting supply squeeze pushed USDT's local price significantly above its intended dollar peg. The premium is roughly double the gap that is typically seen in the Indian market.

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Crypto & Web3CoinDesk ·

Vitalik Buterin: Indistinguishability Obfuscation Promising but Not Yet Practical

Ethereum co-founder Vitalik Buterin has highlighted indistinguishability obfuscation (iO) as one of crypto's most powerful concepts. He described iO as capable of functioning like a 'trustless trusted third party,' potentially transforming how decentralized systems operate. However, Buterin cautioned that current implementations of the technology are far too slow for any real-world application. The concept remains largely theoretical at this stage, with significant technical hurdles still to be overcome before practical deployment becomes feasible.

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Crypto & Web3CoinDesk ·

FundBank Rebrands as IRACE Digital to Expand Into Crypto Services

Institutional banking provider FundBank has rebranded as IRACE Digital as part of a strategic move to connect traditional finance with the cryptocurrency sector. The company is broadening its offerings to include digital asset custody, liquidity, and execution services. John Cronin, formerly the CEO of Zodia Custody, has been appointed to lead the newly rebranded firm. The rebrand signals a deliberate push by the institution to serve clients operating across both conventional and digital financial markets.

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Crypto & Web3CoinDesk ·

Bitcoin Holds Near $59,800 as Markets Face High-Stakes Week Ahead

Bitcoin edged up 0.6% to approximately $59,800 at the start of the week, remaining below the key $60,000 threshold. Solana outperformed with a 2% gain during the same period. Despite the modest price recovery, derivatives market data and technical chart patterns suggest further downside risk may lie ahead. Traders and analysts are closely watching the coming days as the crypto market braces for potentially decisive price action.

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Crypto & Web3CoinDesk ·

ESMA orders unlicensed crypto firms to shut down as MiCA deadline arrives

European Securities and Markets Authority (ESMA) has directed unauthorized crypto-asset service providers to begin an orderly wind-down of their operations. The warning comes as the transitional period under the Markets in Crypto-Assets (MiCA) regulation officially expires on July 1. Firms that have not obtained the required license under the new framework are no longer permitted to operate legally within the European Union. MiCA, one of the world's most comprehensive crypto regulatory frameworks, has been gradually phased in to give businesses time to comply.

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Crypto & Web3CoinDesk ·

Bitcoin Slides Below Key Support Levels, Bear Pattern Points to $45K Bottom

Bitcoin is currently trading below several important technical and on-chain valuation benchmarks, raising concerns among analysts. Historical bear market patterns are being cited as a reference point for where the cryptocurrency may find its next meaningful floor. Based on these patterns, some analysts suggest a potential bottom could form near the $45,000 price level. The drop has left Bitcoin in uncertain territory, with no strong nearby support levels to arrest further declines.

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Crypto & Web3CoinDesk ·

BIS Report: Stablecoins Resemble ETFs, Pose Foreign Exchange Risks

The Bank for International Settlements (BIS) has raised concerns about stablecoins in its latest annual report. The report argues that stablecoins function more like exchange-traded funds than traditional money. BIS warns that this structural characteristic introduces foreign exchange risks into the financial system. The findings are part of a broader analysis that also examines emerging artificial intelligence trends in finance.

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Crypto & Web3CoinDesk ·

BitMEX Replaces CEO, CFO and Head of Growth in Leadership Overhaul

Cryptocurrency exchange BitMEX has removed three of its top executives, including its CEO, CFO, and head of growth. Peter Wilkinson, who previously served as the firm's global general counsel, has stepped into the role of CEO. He replaces Stephan Lutz, who had been leading the exchange. The leadership shake-up marks a significant restructuring at the top levels of the crypto trading platform.

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Crypto & Web3CoinDesk ·

South Korea's $518B AI Chip Surge Highlights Crypto's Struggle to Attract Capital

South Korean tech giants Samsung and SK Hynix are accelerating their semiconductor manufacturing expansion by a full decade to meet surging demand for AI memory chips. The move is part of a broader, large-scale AI capital investment cycle that has consistently diverted institutional money away from the cryptocurrency sector throughout the year. The combined push represents approximately $518 billion in planned investment, underscoring the massive scale of resources flowing into AI infrastructure. This trend highlights a growing competitive imbalance between AI and crypto in attracting major capital commitments from global investors.

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