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The Consumer Federation of America reported that cryptocurrency scams and cybercrimes resulted in estimated losses of $80.7 billion, with investment fraud being the largest category at $8.6 billion. The FBI's complaint center recorded over 1 million complaints, totaling $20.9 billion in losses.
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Coindesk
JPMorgan analysts believe the Clarity Act, a proposed U.S. crypto market structure bill, faces challenges passing this year due to the upcoming midterm elections and unresolved issues regarding stablecoin yield. The bill aims to provide regulatory clarity for digital assets in the U.S.
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Coinbase has introduced perpetual futures for pre-IPO companies, starting with SpaceX, allowing traders to speculate on valuations before the IPO. This product, settled in USDC, offers 24/7 trading and automatic position translation post-IPO, potentially leading to significant profits or losses.
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BitMine plans to raise $300 million by selling 3 million preferred shares to support ETH purchases, staking, and validator infrastructure. The company's strategy shifted from Bitcoin mining to an ETH treasury business, with over 5 million ETH holdings.
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Ethereum has been hit hard, falling below $2,000 and facing a bearish sentiment due to key developers leaving, high-profile supporters selling, and 15 consecutive days of ETF outflows. Technical indicators suggest a potential further drop to $1,500, with resistance levels at $2,194 and $2,510.
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The crypto market experienced a decline as U.S. stocks dropped due to rising oil prices amid tensions in the Middle East. Bitcoin hit a two-month low, while Ethereum and Solana fell to $1,830 and $72, respectively.
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Law enforcement agencies caution soccer fans against sending cryptocurrency for World Cup tickets due to prevalent scams. Scammers use fake ticket sales, merchandise offers, and betting promotions to steal money and personal information, with crypto payments being a red flag.
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Mastercard is expanding settlement capabilities for credit card transactions using stablecoins like Ripple’s RLUSD and Circle’s USDC, aiming to facilitate intraday, holiday, and weekend settlements. This move supports a 24/7 digital economy and enhances liquidity management for partners globally.
Decrypt
Bitcoin faced a 10% drop in June following Strategy's sale of 32 BTC, causing market turbulence and liquidations of leveraged positions. The move shattered the "never sell" narrative, impacting STRC and MSTR stock prices.
Coindesk
Strategy's recent bitcoin sale, anticipated after signaling plans during its first-quarter earnings call, has impacted market sentiment. Citi believes the move does not alter the company's long-term strategy, despite concerns about potential selling by digital asset treasury firms.
Coindesk
Payward, the parent company of Kraken, will soon allow customers to participate in U.S.-listed IPOs through tokenized shares, giving eligible investors a chance to receive allocations at the IPO price. The initiative aims to expand access to capital markets through blockchain.