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Crypto & Web3CoinDesk ·

Bitcoin holds near $59,700 despite Iran de-escalation boosting equity futures

Bitcoin remained under pressure, trading around $59,700 and down approximately 6.8% for the week. U.S. equity futures climbed following reports that the United States and Iran agreed to pause military strikes and return to diplomatic talks. Unlike traditional markets, cryptocurrency markets showed little response to the geopolitical easing. The divergence highlights Bitcoin's decoupling from risk-on sentiment that typically lifts equities during periods of reduced geopolitical tension.

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Crypto & Web3CoinDesk ·

US Spot Bitcoin ETFs See Record $4 Billion Outflows in June

US-listed spot bitcoin ETFs are heading toward their worst month since launch, with investors withdrawing approximately $4 billion in June. This marks the largest single-month outflow ever recorded for these investment products. The heavy redemptions signal a notable shift in investor sentiment toward bitcoin-linked funds. The data, reported by CoinDesk, underscores growing caution among ETF investors amid broader market uncertainty.

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Crypto & Web3CoinDesk ·

Binance Founder CZ Wants U.S. to Become Global Hub for Crypto

Binance founder Changpeng Zhao, known as CZ, shared his vision for the United States to become the world's leading center for cryptocurrency. He expressed these views in an exclusive interview with CoinDesk earlier this month. CZ covered a range of topics related to the crypto industry and its future direction. His comments come amid ongoing discussions about crypto regulation and adoption in the United States.

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Crypto & Web3CoinDesk ·

Samson Mow declares bitcoin has bottomed, analysts remain unconvinced

Bitcoin advocate Samson Mow has publicly claimed that bitcoin has reached its price bottom. His assertion is grounded in his belief that the traditional four-year halving cycle has fundamentally changed. Despite his confidence, multiple market analysts continue to forecast further price declines. The divergence highlights ongoing uncertainty in the crypto market over bitcoin's near-term price direction.

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Crypto & Web3CoinDesk ·

Michael Saylor hints at more Bitcoin purchases despite Strategy stock decline

Strategy executive chairman Michael Saylor has signaled further Bitcoin acquisitions even as the company's stock continues to lose value. He brushed aside market skepticism by posting a chart highlighting the firm's approximately $50 billion Bitcoin holdings. Saylor cryptically suggested that more data points would be needed, widely interpreted as a hint at additional purchases. The move reflects Strategy's continued commitment to its aggressive Bitcoin accumulation strategy despite investor concern over the falling share price.

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Crypto & Web3CoinDesk ·

SBI's $289M Bitbank Acquisition Reflects Japan's Broader Crypto Market Consolidation

Japanese financial giant SBI has agreed to acquire domestic cryptocurrency exchange Bitbank in a deal valued at $289 million. According to investment bank Architect Partners, the move represents a strategic bet on regulated scale within Japan's evolving digital asset sector. The acquisition comes as sweeping regulatory reforms are actively reshaping the country's cryptocurrency market landscape. Architect Partners views the deal as symptomatic of a wider consolidation trend taking hold across Japan's crypto industry.

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Crypto & Web3CoinDesk ·

Blockchain to Fund AI and Robotics, Not Just Crypto, Says Framework Ventures Cofounder

Michael Anderson, cofounder of crypto venture firm Framework Ventures, believes blockchain technology is evolving beyond its crypto-native roots. He argues that the technology is increasingly becoming a financial infrastructure layer for capital-intensive industries. Anderson specifically highlights AI and robotics as the next major sectors to be financed through blockchain rails. This shift represents a move away from speculative crypto applications toward real-world industrial financing use cases.

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Crypto & Web3CoinDesk ·

Bitcoin Drops Below $60,000, Heading for Consecutive Quarterly Losses

Bitcoin has fallen below the $60,000 mark, declining nearly 7% over the course of the week. Altcoins have fared even worse, recording steeper losses than Bitcoin during the same period. Both Bitcoin and Ether are closing the second quarter in negative territory, marking a losing first half of the year. This back-to-back quarterly decline is considered unusual, running counter to Bitcoin's typical historical performance patterns.

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Crypto & Web3CoinDesk ·

Bitcoin Falls With Gold and Silver as Fed Hawkishness Unwinds Hedge Trade

Bitcoin is declining alongside gold and silver as a broader market selloff hits traditional safe-haven assets. The cryptocurrency had long been grouped with precious metals as a hedge against a weakening US dollar. A more hawkish stance from the Federal Reserve has prompted investors to unwind that trade. As gold and silver retreat under pressure from the Fed's signals, bitcoin is following suit, undermining its perceived role as a dollar hedge.

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Crypto & Web3CoinDesk ·

Robinhood Layoffs Reflect Crypto Bear Market, But Experts Urge Calm

Robinhood has recently carried out layoffs as part of a broader restructuring of its trading platform. The cuts are part of a wider trend of crypto companies reducing their workforce, widely seen as a signal of a late-stage bear market. Despite the concerning optics, analysts from Altcoin Pro — including Horst, Anderson, and Zhuleku — say there is no cause for alarm. The experts suggest that such consolidation is a natural phase in the crypto market cycle rather than a sign of permanent decline.

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Crypto & Web3CoinDesk ·

Tether launches gold-backed loans for XAUT holders using $23B bullion reserve

Stablecoin giant Tether is expanding its tokenized gold strategy by enabling holders of its XAUT token to take out loans backed by their gold holdings. The move allows XAUT holders to access liquidity without having to sell their underlying bullion. The approach mirrors Tether's existing bitcoin-backed lending model, applying the same concept to its gold reserves. Tether currently holds approximately $23 billion worth of gold backing its XAUT token. The initiative marks a significant step in Tether's broader push to make tokenized real-world assets more financially productive.

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Crypto & Web3CoinDesk ·

Polymarket Hack Loss Revised to $3.1M After Platform Pledged Full Refunds

Prediction markets platform Polymarket has updated the total loss from a recent hack to $3.1 million. The revision came just days after the platform publicly promised to fully refund affected users. Polymarket is also reportedly under investigation over allegations of false or deceptive marketing practices. The dual developments mark a turbulent period for one of the largest platforms in the prediction markets space.

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Crypto & Web3CoinDesk ·

Coinbase and OKX offer sign-up bonuses to attract Binance's EU users post-MiCA exit

Coinbase and OKX are actively targeting Binance's estimated 450 million European Union users after Binance failed to secure a MiCA (Markets in Crypto-Assets) license. Coinbase CEO Brian Armstrong and OKX founder Star Xu are leading the push by offering new users sign-up bonuses. The incentives include returns of up to 8% on deposits or transfers made from other platforms. The move comes as Binance's inability to obtain MiCA compliance opens a significant gap in the EU crypto market.

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Crypto & Web3CoinDesk ·

CZ cites AI, geopolitics, and market cycles as causes of crypto's 50% drop

Binance founder Changpeng Zhao (CZ) has attributed the cryptocurrency market's significant decline to multiple converging factors rather than a single cause. Speaking to CoinDesk, CZ pointed to the influence of artificial intelligence, global geopolitical tensions, and the crypto market's recurring four-year cycle as key contributors. The market has fallen approximately 50% over the past year, marking a notable downturn for the industry. CZ's comments suggest the current slump reflects a complex mix of macroeconomic and sector-specific pressures.

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Crypto & Web3CoinDesk ·

Strategy's market valuation drops below its actual Bitcoin holdings value

Strategy, the firm led by Michael Saylor, has seen its market valuation fall below the total value of its Bitcoin holdings. For years, the company had enjoyed a premium valuation above its crypto assets, which gave it significant flexibility to raise capital. Saylor and his team repeatedly leveraged this premium to accumulate more Bitcoin. The collapse of this valuation premium marks a notable shift in how investors now perceive the firm's worth relative to its holdings.

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