The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite opened mixed on Tuesday, July 1, with the third quarter of 2025 having a slow start amid jitters around President Donald Trump’s budget bill and looming tariffs deadline. Dow Jones Industrial was 75 points up, while the S&P 500 and Nasdaq Composite were at -0.2% and -0.3%, signaling a potential pullback. The largely lower trading comes after a second quarter 2025 run that saw stocks recover from a major dip in April to end the period emphatically in the green. Notably, Wall Street saw all three major indices rise on Monday, with the benchmark index S&P 500 hitting record highs above 6,204. Trump’s “Liberation Day” tariffs had seen a bloodbath across the market, pushing the index into negative territory by early April. However, resilience even during recent geopolitical tensions in the Middle East meant the S&P 500 closed the three-month period in bullish mood. The blue chip Dow also ended the second quarter on a high with over 270 points on Monday, with this putting it up 5% over the period. Meanwhile, Nasdaq clawed back gains to close Q2 18% higher. You might also like: Dow Jones up on strong trade news, Trump’s tax bill Q3 starts slow While investor sentiment remains largely upbeat, Wall Street is starting slow for Q3 amid potential headwinds around trade talks. Focus on Trump’s mega budget bill, which had the U.S. Senate vote overnight, and fresh feuding between the president and Tesla and SpaceX chief executive Elon Musk has markets a little on edge. This indeed saw the Tesla stock price pare gains on Tuesday, with Trump suggesting DOGE may have to take a look at the subsidies offered to Musk’s companies. The outlook in the cryptocurrency market signalled a lack of upside conviction, with Bitcoin ( BTC ) shedding gains to below $107k. Analysts at Bitfinex say BTC could see range-bound trading amid a historically unimpressive Q3 for bulls. Tariffs and Jerome Powell’s speech As noted, market attention has shifted from the hostilities in the Middle East, with the Israel-Iran hostilities down, to potential downside catalysts. The tariffs front has Trump’s July 9 deadline in focus, with reports suggesting White House is eyeing “narrowed” deals. Financial Times reported this to be the administration’s goal well before the date of the “reciprocal” tariffs rolls in. Elsewhere, Federal Reserve chair Jerome Powell will speak on Tuesday, with this coming amid the latest push from Trump regarding interest rate cuts. While the Fed hasn’t signalled such a move, investors are betting on a cut in coming months. Investors will also be keen on this week’s economic data reports, including the June jobs report. You might also like: Senator Lummis pushes for crypto-friendly amendments in Trump’s Big Beautiful Bill
Deutsche Bank plans to roll out a crypto custody service in 2026, partnering with Bitpanda’s technology arm to build the platform, Bloomberg reported Tuesday , citing sources familiar with the matter. Key Takeaways: Deutsche Bank will launch a crypto custody service in 2026 with support from Bitpanda and Taurus. The bank is exploring stablecoins and tokenized deposits, signaling a deeper commitment to digital assets. Major German banks, including Sparkassen and DZ Bank, are also moving into crypto services. The German banking giant’s corporate division will also maintain its collaboration with Swiss provider Taurus SA, which has been involved in Deutsche Bank’s custody plans since they were first unveiled in 2022. The custody push comes as major financial institutions ramp up digital asset efforts, spurred by evolving regulations in Europe and supportive moves in the U.S. following Donald Trump’s reelection. Deutsche Bank Expands Crypto Footing Deutsche Bank confirmed earlier this month that it is exploring stablecoins and tokenized deposits, which could involve issuing its own token or joining broader industry initiatives. The bank is also weighing the development of a tokenized deposit solution for payments. Notably, Deutsche Bank was among investors backing a $65 million funding round last year for Taurus , reflecting its growing commitment to the digital asset space. BREAKING Germany's largest bank, Deutsche Bank, to launch crypto custody services in 2026 pic.twitter.com/Bx0UbFcJMF — Quinten | 048.eth (@QuintenFrancois) July 1, 2025 Deutsche Bank’s crypto expansion comes as a number of major German banks have already begun integrating crypto services. Just recently, Germany’s Sparkassen-Finanzgruppe announced plans to launch crypto trading for its 50 million customers by summer 2026. Dekabank, owned by Sparkassen, will oversee the crypto offering through the group’s mobile banking app, enabling direct trading of Bitcoin and Ether. Likewise, DZ Bank, Germany’s second-largest lender, partnered with Boerse Stuttgart Digital last year to pilot crypto trading and custody services, aiming to expand offerings across its 700 cooperative banks after initial trials. Meanwhile, Landesbank Baden-Württemberg, the country’s biggest federal bank, announced plans in April 2024 to provide crypto custody services for institutional clients in collaboration with Bitpanda. The momentum isn’t limited to Germany. Speaking in April, Eric Trump warned that banks resisting crypto could become obsolete within a decade, highlighting issues of speed and cost in traditional finance. Big Banks Change Stance Toward Crypto Major banks including JPMorgan, Citigroup, Bank of America, and Wells Fargo are meeting with officials in Republican-led states like Texas and Oklahoma to address accusations of political bias, especially toward fossil fuel and firearms industries. Some states have blacklisted these banks from contracts, prompting banks to defend or adjust their policies. Citigroup ended its restriction on working with firearms vendors selling to buyers under 21, while JPMorgan and others clarified they don’t base lending decisions on political views. Banks are also retreating from climate-focused alliances and easing restrictions on coal financing to avoid further backlash. At the federal level, the Trump administration is considering an executive order to prohibit banks from denying services based on political or religious beliefs, which could affect banks’ participation in government business, including selling Treasury bonds. The post Deutsche Bank Taps Bitpanda to Launch Crypto Custody Service in 2026: Bloomberg appeared first on Cryptonews .
GameStop is diving deeper into Bitcoin. The retailer has raised over $4 billion through convertible note sales this year, and it plans to use a chunk of that to build a Bitcoin treasury . GameStop’s Convertible Note Play In March 2025, GameStop issued $1.48 billion in convertible notes, a type of debt investors can later turn into equity. A filing with the SEC revealed that proceeds would go toward “general corporate purposes, including the acquisition of Bitcoin.” That promise became reality in May when GameStop purchased 4,710 BTC, worth roughly $513 million at the time, marking the company’s first official Bitcoin buy. This month, GameStop doubled down. A second convertible note offering raised $2.25 billion, with investors quickly exercising an option to purchase an additional $450 million, bringing the total raised to $2.7 billion in June alone . GameStop’s move mirrors MicroStrategy’s Bitcoin strategy, which used corporate debt to accumulate over 200,000 BTC. Strategy’s stock now effectively trades as a Bitcoin ETF with leverage. While GameStop hasn’t gone that far, its board appears to see Bitcoin as a potential lifeline. The company has faced years of declining retail performance and sees crypto as a hedge, a growth bet, or maybe even both. If the company allocates most of its new war chest to BTC, its holdings could rival Strategy’s on a relative basis, representing nearly a third of GameStop’s total market cap. A Company-Wide Pivot? For now, GameStop is a retailer with a speculative treasury strategy. But if Bitcoin appreciates and GameStop continues to issue debt to buy more, it could evolve into a crypto proxy, a high-beta Bitcoin stock, or even a new kind of hybrid public company.
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July will be crucial for crypto markets with tariff and employment data upcoming. Analysts predict significant volatility, affecting BTC and altcoin movements. Continue Reading: Crypto Markets Brace for Turbulent July as Key Decisions Loom The post Crypto Markets Brace for Turbulent July as Key Decisions Loom appeared first on COINTURK NEWS .
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A crypto strategist known for accurately predicting the mega XRP price eruption in Q4 2024 says that the Ripple-affiliated crypto may be on the verge of igniting another parabolic surge. In a June 30 post on X, pseudonymous analyst DonAlt told his 671.5K followers that XRP could be setting up for “Round 2” of its meteoric rally. He noted that XRP was enjoying paltry gains while other cryptocurrencies like Bitcoin (BTC) traded lower. Notably, BTC started July in a lackluster style, plummeting to month-to-date lows under $106,500 at publication time. XRP, meanwhile, has gained a meagre 0.8% over the last 24 hours as renowned crypto exchange-traded fund (ETF) analysts tip a whopping 95% chance for spot XRP-based ETFs to be greenlighted by the US Securities and Exchange Commission this year. Last November, XRP jumped by an impressive 280%, considerably outperforming the wider crypto market. On Nov. 13, DonAlt encouraged investors to “long XRP,” which he called “the perfect trade.” The cross-border payments coin then skyrocketed by over 320% in the span of 20 days. XRP ended up peaking at $3.31 on January 18 after a brief accumulation phase, according to CoinGecko data. Despite several months of stagnating price action, XRP sentiment has reached a record high, fueled by a stalled $50 million settlement between Ripple and the Securities and Exchange Commission. As previously reported by ZyCrypto , this development contradicts the waning optimism surrounding Bitcoin and Ethereum, which have witnessed dwindling retail demand as the crypto market moves sideways. XRP Fundamentals Hint At Breakout Ahead DonAlt’s prediction comes after Ripple CEO Brad Garlinghouse announced that the company was tossing out its cross-appeal against the SEC and expects the regulator to do the same. “We’re closing this chapter once and for all and focusing on what’s most important — building the internet of Value. Lock in,” Garlinghouse declared at the time. If the SEC also drops its appeal, it could bring to an end the legal brawl between Ripple and the US securities watchdog that has lasted for nearly five years and likely act as a powerful bullish catalyst for XRP. Meanwhile, the XRP Ledger, a blockchain associated with Ripple, launched its EVM sidechain on mainnet to enable Ethereum-based smart contracts and cross-chain DeFi. These positive fundamentals could set the stage for a move toward the much-elusive $3 mark and beyond.