Bo Hines, White House crypto advisor, confirmed ongoing efforts to build infrastructure for a US Bitcoin Reserve, marking a significant federal advancement in BTC accounting. The Bitcoin Reserve initiative remains
Nasdaq-listed cryptocurrency firm Bit Digital, Inc. (BTBT) announced Wednesday it will fully transition from bitcoin mining to become a dedicated ethereum staking and treasury company. Bit Digital Transitions to Pure-Play Ethereum Staking Company The strategic shift, disclosed on June 25, 2025, follows the company’s accumulation of ethereum ( ETH) and staking infrastructure since 2022. Bit
Kraken, one of the largest cryptocurrency exchanges, has launched a new app called Krak App. This app is designed to enable people to send and receive both digital and traditional money worldwide seamlessly. Krak is built to be simple, fast, and low-cost. It was released ahead of Kraken’s planned initial public offering (IPO) on the stock market in 2026. The app supports more than 300 cryptocurrencies. Krak Follows A Consumer-Focused Approach Ripple is recognized for facilitating the transfer of money across international borders for banks and large companies. Krak, on the other hand, is built for everyday people and small businesses. Users can transfer money to other Krak app users or directly to their bank accounts, with no transaction fee. This is designed to help people save money when sending funds, making digital payments easy and affordable for everyone. Meanwhile, the Krak app is part of Kraken’s bigger goal to expand its business. In the past months, the exchange introduced zero-fee trading on U.S. stocks and also bought a futures trading platform for $1.5 billion . With Krak, Kraken is now entering the fintech world, competing with popular apps like Venmo, Revolut, Cash App, and Coinbase Payments. Kraken To Expand Krak Use Beyond Digital Payments Kraken has plans to add more features to the app. Soon, Krak users will have access to both physical and virtual debit cards. These cards will let them spend their money directly from the app, just like a regular bank account. Later, Kraken will also offer loans and credit services through the app, demonstrating its plans to become a comprehensive financial service provider. By leveraging the existing strong systems, the company hopes Krak will attract both new and experienced users. Additionally, Krak will offer rewards to users, allowing them to earn up to 10% returns on selected assets. Most recently, Kraken partnered with Babylon, an innovative staking protocol, to let users earn rewards on their Bitcoin (BTC) holdings . This is part of the company’s plan to give more value back to users. Industry Experts See Big Potential in Krak Many experts believe the Krak app is an important move for Kraken. Analysts from Oppenheimer say that Krak could become a bridge between cryptocurrency and traditional financial tools. Financial firms, such as Citi and PwC, also support this view, stating that the timing is right. This comes as new global rules are making it easier for digital money apps to grow safely. However, these experts believe that a good user experience will be key to Krak’s success. At the same time, Ripple is also growing. Its new RLUSD stablecoin was added to Alchemy Pay, making it easier for people to move between traditional money and crypto. Nevertheless, Krak focuses more on helping everyday users make fast and free payments. The post Kraken Floats Krak App To Explore Global Payments appeared first on TheCoinrise.com .
Kraken has launched “Krak,” a peer-to-peer payments app designed to facilitate seamless fiat and cryptocurrency transfers across borders, challenging established players like Cash App and Venmo. The app integrates yield
On June 24, 2025, a blogger using the Pledditor handle published an X post that kicks off like this: Bitcoin did go to $1,000,000 this cycle, it’s just the value wasn’t captured by “you”. It was captured by “them”. Then, Pledditor explains how 10x mNAV may help Bitcoin pioneers holding substantial amounts of Bitcoin to trade BTC at $1,000,000. How realistic is this scheme? A sleuth using the Pledditor moniker on Twitter made headlines in 2023 when they shared deleted tweets of Coinbase CEO Brian Armstrong. The person behind this account is an avid critic of Bitcoin treasury companies, which they refer to as “grift.” It’s worth saying that Pledditor is far from being a Bitcoin skeptic; rather, they advocate for self-custody and a DIY approach in general. Table of Contents What is the scheme described by Pledditor? Likening treasuries to SPACs Which treasuries can boast 10x mNAV? What is the scheme described by Pledditor? In a recent Twitter thread, Pledditor dissects how the “Bitcoin OGs” (i.e., David Bailey, Adam Back, Ten31, Swan, and others) can trade Bitcoin at one million during the current cycle. Bitcoin did go to $1,000,000 this cycle, it's just the value wasn't captured by "you". It was captured by "them". If you are a bitcoin OG with a bunch of coins, what you do is securitize your BTC stack by SPAC'ing it on the public markets. You then create a "irresponsibly long… — Pledditor (@Pledditor) June 24, 2025 In the post, Pledditor describes the way the early Bitcoin holders with huge bags can securitize their holdings. According to them, they may launch a Strategy-like treasury company and hype up people on Twitter, urging them to buy their stocks. They may do it themselves or via a third-party frontman (“influencer”). As soon as the market net asset value reaches ten, the company founder may exit the common stock while keeping preferred shares for themselves. Given that the mNAV is 10 and the BTC price is $100,000, the company founder technically sells their bitcoins at $1,000,000 while not fully departing with their bitcoins thanks to keeping preferred shares. In the following tweets, Pledditor adds that the base Bitcoin for such ventures is coming from “Bitcoin OGs,” not even from the OTC desk. So, the impact on the market BTC price is zero. Pledditor concludes , “They tell you buying common gives you __ amount of BTC per share, when in reality *they* own all the preferreds, *they* own the BTC.” Earlier, Pleddior replied “Correct” to a tweet saying that Strategy is an exit scam for executives and Bitcoin OGs. Likening treasuries to SPACs On top of that, in the post, Pledditor compares the treasury companies to Special-purpose acquisition companies (SPACs). Lately, this comparison has been occurring across the crypto Twitter repeatedly; Pledditor is not the only one to bring it up. Bitcoin and other crypto treasury companies are the new SPACs. The only people that got rich off the SPAC model 4 years later were those who created it. It’s financial engineering. It never ends well for retail. Most SPACs are down 90% or more. Only a few are above initial price. — Beanie (@beaniemaxi) June 12, 2025 SPACs, or special purpose acquisition companies, are shell companies created to raise capital via IPOs to merge with a public company or to acquire it. SPACs have no operations. SPACs may be seen as an attractive way to release shares without having to go through the normal disclosures required for companies going public. Two waves of SPAC popularity (in the late 2000s and the early 2020s) ended up rough for retail investors. Most of the time, they saw negative return rates for years. One of the latest popular SPACs was the 2024 Trump Media company merging with Digital World Acquisition Corp. Currently, the DJT stock is traded well below the merging period price. No wonder the comparison between SPACs and treasuries is unfavorable and hints at the lack of real, practical purpose behind companies like Strategy, Metaplanet, and their copycats. Both SPACs and treasuries don’t produce anything and have only a speculative value. While Strategy’s Bitcoin strategy raises concerns as it may seem too risky, Goldman Sachs analysts claimed Bitcoin has to dip 50% to put the company at real risk. According to Fakhul Miah from Go Mining Institutional, newer Bitcoin treasuries don’t have proper safeguards . If the BTC price goes below $90,000, it may trigger liquidations and a ripple effect that will affect bigger treasuries too. More than that, as regulation will allow companies to hold BTC self-custody, Bitcoin ETFs and stocks of Bitcoin treasuries may lose their attraction for corporations. Read more: Will Michael Saylor pull the rug? However, some Bitcoin enthusiasts find Michael Saylor’s lack of interest in Bitcoin adoption disturbing. While he is advertising Bitcoin and urging everyone to buy Bitcoin, whatever it costs, Strategy is busy selling MSTR stocks, not exposing investors to direct Bitcoin ownership. Micheal "SELL YOUR CHAIRS" Saylor must be tripping, telling everyone to buy Bitcoin for years then watching everyone pile into every imaginable explicitly non-bitcoin financial product he offers. Truly amazing, absolute genius on his part. — P (@pmilanovich_bfs) June 24, 2025 Which treasuries can boast 10x mNAV? While most treasuries’ mNAV rate doesn’t exceed a 3.0 mark, several companies already reached the threshold brought up by Pledditor in the post. On June 6, 2025, NYDIG shared the mNAV rates based on the SEC filings. It indicates that GameStop and Nakamoto have mNAV rates above the 10 mark, while Metaplanet and Strive are near this value, with 7.6 and 9.1 rates, respectively. It’s worth saying that GameStop is leading the charge mostly because it had a substantial market cap before allocating Bitcoin, and the BTC share of GameStop’s reserve is relatively small. Was the Pledditor’s post aimed directly at David Bailey, whose company Nakamoto has an mNAV rate above 10? Probably so. The amount of criticism towards Bitcoin treasuries grows accordingly with the number of companies following the footsteps of Strategy. Time will show who’s right. You might also like: GameStop’s Bitcoin push echoes Strategy, but without the cushion
The post Top Reasons Why Bitcoin Price May Retest $92k First Before Reaching $120k in the Midterm appeared first on Coinpedia Fintech News Bitcoin (BTC) price has experienced heightened resistance around $108k in the past few days amid the de-escalation of the Middle East crisis. The flagship coin dropped slightly to trade at about $107,472 on Thursday, June 26, during the mid-North American session. After recording an impressive comeback, following the 90-day pause on most reciprocal tariffs in April, BTC price has been forming a potential reversal pattern. The bearish sentiment for BTC price has been forming amid the growing demand from institutional investors, led by Strategy, and Metaplanet. Major Factors Weighing Down on Midterm Bullish Sentiment for Bitcoin Price Technical Headwinds The BTC price, in the daily timeframe, has been forming a falling trend following a bearish breakout from a rising wedge formed in late May 2025. The midterm bearish sentiment for BTC price is bolstered by the falling daily Relative Strength Index (RSI) with the MACD line having crossed below the zero line. From a technical analysis standpoint, BTC price is well-positioned to retest the support level above $92k again in the coming weeks. The ultimate support level for BTC price was established above $76k earlier this year. High Cumulative Short Liquidation Leverage Bitcoin price faces intensified bearish sentiment fueled by cumulative short liquidation leverage of about $12 billion around $112k. Ideally, it is safe to say that more institutional investors are seeking to suppress BTC price through the futures and leveraged markets to acquire as many coins as possible before the highly anticipated parabolic rally.Furthermore, on-chain data shows that institutional investors have been aggressively accumulating more BTC through leveraging equity markets. According to market data from BitcoinTreasuries , 251 entities hold more than 3.47 million BTCs in their respective treasuries.
Former Tether co-founder Reeve Collins and ex-Blackstone executive Chinh Chu are spearheading a $1 billion initiative to establish a publicly traded crypto treasury encompassing Bitcoin, Ethereum, Solana, and other major
CoreWeave is intensifying its acquisition efforts for Bitcoin miner Core Scientific, following a previously rejected bid, signaling a strategic move in the crypto mining and AI infrastructure sectors. The renewed
Former Tether and Blackstone execs plan to build a publicly traded crypto treasury spanning Bitcoin, Ethereum, Solana, and more.
CoreWeave’s previous takeover bid for Bitcoin miner Core Scientific was rejected for being too low.