Disclaimer: This article is a press release. COINTURK NEWS is not responsible for any damage or loss related to any product or service mentioned in this article. Continue Reading: She Put $700 in XRP: Now She’s Putting $7K in Kaanch After Seeing the Roadmap The post She Put $700 in XRP: Now She’s Putting $7K in Kaanch After Seeing the Roadmap appeared first on COINTURK NEWS .
ASIC Appoints Three-Member Expert Panel to Investigate ASX Blockchain Failure The Australian Securities and Investments Commission (ASIC) has stepped forward to launch a full-scale investigation into the failed blockchain revolution by the Australian Securities Exchange (ASX), appointing a three-member expert panel to assist in determining governance and management failures linked with the collapse. Guy Debelle and Rob Whitfield are Appointed to Panel Guy Debelle, former deputy governor of Reserve Bank, has joined the panel, with Rob Whitfield, non-executive director of Commonwealth Bank, to chair. Christine Holman, board director at AGL and Collins Foods, completes the team. ASIC has asked the panel to find what areas ASX’s risk management, governance, and technology fell short in and could possibly have led to the failure. Panel to Report Back by March 2026 The board will be required to report by March 31, 2026. ASIC’s regulator action and rebuilding trust in the nation’s premier securities exchange will be guided by the report. ASX has formally invited the investigation and has committed to being completely cooperative with the board. Inside ASX’s Failed Blockchain Ambition ASX first unveiled the ambitious blockchain replacement for its CHESS system in 2015, partnering with New York startup Digital Asset Holdings. The project aimed to overhaul settlement and clearing operations through distributed ledger technology. Things didn’t end well. Critics sounded the alarm over the untested scalability of the system, as well as its complicated architecture and frail external support. In late 2024, ASX officially canceled the project, blaming it on faulty administration and systemic problems. The total cost rose to between 245 and 255 million AUD (approximately $164–$171 million USD) with severe industry condemnation and loss of prestige for the exchange.
MOVE rallied for the second straight day, supported by continued token buybacks by the Movement Network Foundation. According to data from crypto.news Movement ( MOVE ), the native token of the modular Layer-2 blockchain ecosystem, surged over 35% on June 26 to reach an intraday high of $0.199 during afternoon Asian trading hours. The rally pushed its market cap above $512 million and extended its weekly gains to over 52%. Its daily trading volume rose over 300% compared to the previous day, with investor sentiment likely being buoyed by ongoing token buyback activity by the Movement Network Foundation. According to official disclosures , the Movement Network Foundation, an entity overseeing the Movement ecosystem, has repurchased 45 million MOVE tokens in the past 24 hours, bringing total June buybacks to 63 million tokens. The initiative appears to be part of a repurchase program funded through a Movement Strategic Reserve, which was established in May. A portion of the reserve is reportedly backed by assets recovered from Rentech, a now-banned market maker accused of price manipulation. Through this reserve, tokens are being actively bought back from the open market to help stabilize prices and reduce volatility in the aftermath of the sell-off. You might also like: U.S. agency directs mortgage giants Fannie Mae and Freddie Mac to consider crypto assets Meanwhile, the recent buybacks come after the Movement team transferred 500 million MOVE tokens to Binance in early May 2025 as part of the MOVE Launchpool Season 2 initiative. The token transfer and Launchpool initiative appear to be strategic efforts by the Movement team to realign with token holders and ease concerns over potential delisting, concerns that were amplified after Coinbase delisted MOVE in May, citing non-compliance with listing standards in the wake of the Rentech incident . The buyback program seems to have contributed to a noticeable uptick in bullish sentiment. Simultaneously, whale accumulation has also picked up pace. According to Nansen data, whale wallets have increased their MOVE holdings by nearly 200% over the past three months, now collectively holding 843,829 tokens. However, additional data presents a bearish note. While whales have increased their holdings, Smart Money wallets, often seen as more strategic, have reduced their MOVE exposure by 52% within the same period. This divergence suggests that while larger holders are accumulating, more strategic traders may still be cautious about MOVE’s long-term outlook. MOVE price analysis On the 1-day/SUDT price chart, MOVE has broken out of a multi-week falling wedge pattern, a typically bullish technical formation that often precedes upward price reversals. MOVE 1-day price chart — June 26 | Source: crypto.news MOVE price has also breached a descending trendline that had been capping price action since late December, indicating a potential shift in market structure from lower highs to higher highs. Momentum indicators such as the RSI and MACD have also turned upward, reinforcing the likelihood of sustained bullish momentum in the near term. MOVE MACD and RSI chart — June 26 | Source: crypto.news Based on this technical setup, the most probable upside target for MOVE lies at the $0.41 level, which represents the 23.6% Fibonacci retracement zone and 115% above the current price level. Despite this, a deterioration in broader market sentiment, particularly if geopolitical tensions in the Middle East escalate, could invalidate this bullish structure. In that case, MOVE risks falling back toward the $0.11 level, a critical support zone that has historically attracted buying interest. Read more: Ninth Solana ETF filing lands as Invesco and Galaxy submit S-1 Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
After being considered the Wild Wild West for years, crypto adoption in the United States is quickly gaining traction. Most notably, institutions are flooding into the crypto space due to the rise of tokenized treasuries and real-world asset (RWA) tokenization . The current market capitalization of tokenized US treasuries stands at a whopping $7.4 billion . A number of US states are also looking at implementing a Strategic Bitcoin Reserve (SBR) . This would allow states to hold Bitcoin ( BTC ) as part of their investment strategy. Both Texas and New Hampshire have recently signed a bill to add Bitcoin to their balance sheets . Congratulations to those who worked really hard on educating #txlege @TXGOPCaucus and all the stakeholders required to get this bill across the finish line Big shoutout to @lee_bratcher @TXblockchain_ for launching what I like to call 'The 2nd Reserve in Texas' tbt… https://t.co/yDdHWop1rj — ₿IGRYANPARK (@BigRyanPark) June 24, 2025 Moreover, the regulatory landscape in the US is finally becoming crypto-friendly. The US Securities and Exchange Commission (SEC) recently clarified that protocol staking is not a securities transaction under US law when performed under certain conditions. Policies implemented under the Trump administration have further accelerated the institutionalization of cryptocurrencies. The repeal of The Staff Accounting Bulletin (SAB) 121 has enabled traditional financial institutions to offer custodial services for digital assets. Citibank is actively exploring adding crypto custody, while JPMorgan Chase plans to offer crypto investments to its clients through a third-party custodian. Crypto Companies Work With Regulators Although the crypto sector continues to make strides, industry experts believe that none of this would be possible without working with policymakers and regulators. Margaret Rosenfeld, chief legal officer at Everstake, told Cryptonews that working with US regulators has become essential for cryptocurrency companies. “Effective crypto regulation depends on more than legal theory, as it requires a deep understanding of the underlying technology,” Rosenfeld said. “Without that technical fluency, there’s a risk of applying legacy financial frameworks to decentralized systems in ways that don’t fit and ultimately hinder innovation.” Rosenfeld explained that the decentralized staking provider, Everstake, helped to educate the SEC on staking. She noted that this influenced the SEC’s decision to clarify that protocol staking is not a security. “At Everstake, we didn’t just send lawyers into the SEC – we brought engineers and operators to the table. We explained the technical structure of staking, validator responsibilities, and how non-custodial delegation works. That kind of technical fluency is critical for good policy. Without it, regulators are left applying legacy frameworks to new infrastructure in ways that can miss the mark,” Rosenfeld commented. Rosenfeld noted that providing both legal and technical insight can help regulators gain a clearer understanding of what they are evaluating. “Soon after our meeting, the SEC issued guidance acknowledging for the first time that some staking models – like those we operate – fall outside the scope of securities regulation. It was a meaningful step forward and a real example of how collaborative, technically informed engagement can shape better policy,” she said. Blockchain Advocacy Groups Educate Policymakers Blockchain advocacy groups also work closely with US policymakers to ensure that legislation is passed to push forward with crypto adoption in the country. Most recently, the Texas Blockchain Council helped push for the passing of the Texas SBR. Lee Bratcher, founder and president of the Texas Blockchain Council, told Cryptonews that the Texas Blockchain Council worked with legislative champions, policy advisors, and industry stakeholders to ensure that Senate Bill 21 (SB21) was not only technically sound, but also politically feasible. “The groundwork we’ve laid over the past few years helped pave the way for this breakthrough,” Bratcher said. “Our success was rooted in years of building trust with lawmakers, demystifying Bitcoin, and linking it to core values like fiscal conservatism, sovereignty, and energy innovation.” Texas Governor @GregAbbott_TX just signed the Texas Strategic Bitcoin Reserve bill! The future of finance is digital and the future of capital formation is in Texas!! pic.twitter.com/jhgLxKTLTK — Lee ₿ratcher (@lee_bratcher) June 22, 2025 Bratcher further remarked that US states should not only tailor their messaging to local political and economic contexts, but also to core ideas. In this case, Bratcher pointed out that the Texas Blockchain Council educated policymakers on how Bitcoin can serve as a modern reserve asset, which he believes is gaining bipartisan traction. “Given the bi-partisan support for this bill, Texas Governor Abbott determined that it would go into effect immediately rather than the typically September 1st effective date,” Bratcher said. Texas Senator Charles Schwertner also partnered with the Texas Blockchain Council to pass SB21. Chairman Schwertner told Cryptonews that Texas is currently the only state with a direct $10 million appropriation for acquiring Bitcoin. He added that working with the Texas Blockchain Council enabled him to learn how a SBR allows Texas to diversify its investment approach . The Texas Blockchain Council further anticipates that the Texas Comptroller’s Office and the Texas Treasury Safekeeping and Trust Company will begin developing a prudent Bitcoin acquisition and custody strategy. Major US Crypto Exchange Builds Trust With Lawmakers To Boost Crypto Adoption US-based cryptocurrency exchange Coinbase also regularly dedicates time to educate policymakers. In February the SEC dropped its lawsuit against Coinbase , ending a contentious years-long legal battle. The leading cryptocurrency exchange has since submitted a number of documents and requests to drive mainstream adoption of cryptocurrency in the US. For example, the Coinbase website shows that on May 30 the exchange submitted a request to urge the US Treasury to exclude unrealized crypto gains and losses from the Corporate Alternative Minimum Tax (CAMT). CAMT imposes a 15% minimum tax on the adjusted financial statement income (AFSI) of large corporations for taxable years. In addition to focusing on US policies, Coinbase recently secured a Markets in Crypto-Assets (MiCA) license from the Luxembourg Commission de Surveillance du Secteur Financier. This enables the exchange to offer crypto products across European Union countries and will likely result in further influence on EU crypto regulations. Challenges To Consider Before Crypto Adoption While it’s notable that crypto companies and advocacy groups are helping shape US regulations, a number of challenges remain. For instance, Rosenfeld pointed out that one of the biggest challenges is the technical complexity of blockchain infrastructure. “When regulators lack technical fluency in how protocols work, it’s easy for overly broad or misapplied rules to take hold – sometimes unintentionally stifling innovation,” she said. In order to overcome this, Rosenfeld believes that crypto entities need more dialogue that includes not just lawyers and lobbyists, but also engineers and protocol builders. “Regulators are now willing to listen when industry participants take the time to explain the underlying mechanics. That’s the path forward: collaboration built on mutual education and transparency,” she stated. The post Building Trust With U.S. Regulators Is Essential For Advancing Crypto Adoption appeared first on Cryptonews .
According to recent market data reported by COINOTAG News on June 26, SAHARA has officially been listed on Binance Alpha. The token is currently trading at approximately $0.145, reflecting a
Bitcoin miners recently experienced their most challenging revenue day in over a year, a stark indicator of the evolving landscape within the cryptocurrency sector. This downturn highlights the compounding pressures stemming from Bitcoin’s price fluctuations, the impact of the halving event, and an increasingly competitive mining environment. Triple Threat: Price Drop, Halving, and Difficulty The … Continue reading "Bitcoin Miners Face Toughest Day in Over a Year Amidst Market Shifts" The post Bitcoin Miners Face Toughest Day in Over a Year Amidst Market Shifts appeared first on Cryptoknowmics-Crypto News and Media Platform .
Hong Kong is stepping up its digital asset push with a new policy roadmap designed to scale innovation, regulation, and adoption. On June 26, the Hong Kong government issued Policy Statement 2.0 on the Development of Digital Assets, outlining the next phase of its regulatory strategy. The update, which builds on the framework initially introduced in 2022, introduces a new “LEAP” framework designed to establish a trusted and innovation-driven digital asset ecosystem. The initiative targets four key areas, including legal streamlining, expanding tokenized products, advancing use cases, as well as people and partnership development. A key pillar of the framework is building unified regulation and supporting tokenized real-world assets. Hong Kong plans to establish a clear regulatory regime covering crypto exchanges, stablecoin issuers, dealers, and custodians, with the Securities and Futures Commission (SFC) overseeing the licensing process. You might also like: Hong Kong SFC to introduce virtual asset derivatives trading for professional investors In parallel, the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority will lead a legal review to enable the use of tokenized financial instruments, including bonds, to open up new market opportunities and bring real-world assets on-chain. Beyond regulatory structure, the government also aims to grow the tokenized asset market. Plans include making tokenized government bonds more mainstream, clarifying tax treatment for tokenized ETFs, and enabling their trading on licensed platforms. The updated policy will also extend tokenization to sectors such as gold, precious metals, and renewable energy, demonstrating how blockchain can enhance accessibility and liquidity in traditional markets. Another core focus is encouraging adoption and industry collaboration. Regulators will move forward with the new stablecoin licensing regime , set to launch on August 1. Additionally, new use cases will be tested for stablecoin use in everyday situations, such as payments and financial services. To support this, the government will foster collaboration between public agencies and industry players to help build the underlying infrastructure for digital assets. On the talent front, the policy outlines efforts to position Hong Kong as a digital asset research and education hub. Authorities plan to partner with academia and industry on joint programs, global collaboration, and long-term workforce development in the sector. Emphasizing the importance of the policy upgrade, Hong Kong Financial Secretary Paul Chan described it as a practical blueprint for boosting the local digital asset scene. “The Policy Statement 2.0 sets out our vision for DA development and showcases the practical use of tokenisation through application, with a view to boosting the diversification of use cases, he said, adding that “it will bring benefits to both the economy and society while consolidating Hong Kong’s leading position as an international financial centre,” he said. Read more: Hong Kong to start issuing stablecoin licenses, with Ant Group and JD.com already in line
Cryptocurrency mining and staking company Bit Digital has announced that it will make a strategic transformation decision and switch to a structure focused solely on Ethereum staking and treasury management. The company will phase out its Bitcoin mining operations and direct the proceeds into Ethereum (ETH) investments. Bit Digital, which began accumulating and staking ETH in 2022, says it currently operates one of the world’s largest enterprise-scale Ethereum staking infrastructures. The company also offers validator infrastructure services, institutional-grade custody and yield solutions, and protocol governance consulting. Related News: As Terra Founder Do Kwon Appears in Court, Terra Classic (LUNC) Receives Major Update Today - Here Are the Details As of the end of March, Bit Digital held 24,434.2 ETH (about $44.6 million) and 417.6 BTC (about $34.5 million). The company plans to convert all of its BTC holdings to ETH over time. This transformation is particularly notable at a time when Ethereum-focused treasury strategies are few in number. The SharpLink initiative, previously announced by Consensys founder Joe Lubin, took a similar approach. Bit Digital also announced that it has launched a new IPO to increase its Ethereum uptake and plans to spin off its high-performance computing (HPC) subsidiary WhiteFiber Inc. in a separate IPO. *This is not investment advice. Continue Reading: Nasdaq-Listed Company Completely Abandons Bitcoin – Will Sell All BTC and Purchase This Altcoin
Summary Coinbase remains a strong buy due to resilient fundamentals, diversified revenue, and robust growth in subscriptions and services, even amid crypto market volatility. The GENIUS Act is a major catalyst, providing regulatory clarity for stablecoins, unlocking institutional and corporate adoption, and expanding Coinbase’s total addressable market. Despite high valuation premiums, I believe Coinbase’s rapid revenue growth and stablecoin-driven margin expansion justify the upside potential, with 81% share price appreciation possible. Risks from altcoin and Bitcoin volatility exist, but the GENIUS Act’s impact and Coinbase’s operational strength make it my top pick for crypto market exposure. Co-Authored by Noah Cox and Brock Heilig Investment Thesis While crypto markets have been volatile, I continue to believe Coinbase ( COIN ) is a strong buy. While much of the altcoin market remains in a bear market, the cryptocurrency exchange and custodian remains grounded in what, I think, are resilient fundamentals and diversified revenue base. I am extremely optimistic about the future of the American cryptocurrency exchange. The GENIUS act is the latest catalyst to power its movement higher. I think stablecoins will be a huge catalyst that will allow the cryptocurrency firm to weather any future crypto winter. Stablecoins, hence in their name, should be a far more stable form of revenue. I believe the GENIUS Act is a major new tailwind that de-risks Coinbase’s business by providing clear favorable regulation for stablecoins. Even amid patchy crypto markets, Coinbase has delivered positive adjusted EBITDA and maintained growth in subscriptions & services. To me, this indicates operational strength for Coinbase. With this, I continue to be bullish on the cryptocurrency exchange, and I think shares are a strong buy. Why I’m Doing Follow-Up Coverage One of the biggest reasons why I’m doing follow-up coverage on Coinbase is because of the fact that the company has outperformed since the last time I wrote on them back in August of last year. Since I published that coverage, Coinbase’s stock is up nearly 70%, jumping from ~$198 per share to more than $330. In comparison, the S&P 500 is up only about 9.2% in that time frame. This validates my prior thesis on Coinbase. Coinbase outperformed the market by 60.8%. I continue to track the crypto bull run. As an example, Q4 2024 trading volumes jumped (consumer + 176% year-over-year, institutional + 128% year-over-year), which has boosted Coinbase’s transaction revenue. I remain heavily focused on stablecoin-driven upside: subscription & services revenue (including USDC reserve interest) were up 64% year-over-year to $2.3 billion in 2024. Keep in mind, this came well before the proposed GENIUS Act. In my opinion, this is a strong growth pillar. GENIUS Act Deep Dive The main purpose of this article is to dive deeper into the GENIUS Act and what it means for Coinbase going forward. In my opinion, this is one of the biggest factors as to why I continue to rate the company as a strong buy. Before we dive into why the GENIUS Act is so important to the success of Coinbase, it’s important to first understand what the Act is. According to CNBC: ...[the GENIUS Act is] a landmark bill that for the first time establishes federal guardrails for U.S. dollar-pegged stablecoins and creates a regulated pathway for private companies to issue digital dollars with the blessing of the federal government. It was initially proposed in February of this year, and the bill passed with a 68-30 vote just this past week. Notably, the bill passed with overwhelming cross-party support, meaning that a solid majority of members from both of the two main parties are in favor of the bill. It will now head to the House for reconciliation with the STABLE Act. Additionally, there have been key provisions and clarity surrounding the GENIUS Act that make me even more bullish on Coinbase. The Act defines “payment stablecoins” as 1:1-backed digital dollars with monthly audits, strict AML/KYC, and “freeze” capabilities — explicitly outside SEC securities jurisdiction. Additionally, it also bars issuers from implying government guarantees (no FDIC claims). I’m also incredibly encouraged by the institutional “green light” that stablecoins have received. As part of this bill, banks are now permitted to issue stablecoins if they meet reserve-backing and disclosure rules. For instance, JPMorgan’s “JPMD” on Base is a perfect example. Additionally, major global banks like Santander and Deutsche Bank are likewise exploring bank-backed tokens for settlement and payments. Lately, we’ve also been seeing corporate and fintech adoption. E-commerce (Shopify via Coinbase Commerce), payments giants, and Big Tech companies like Amazon, Walmart and Apple, are accelerating stablecoin integrations now that regulatory uncertainty is removed. The last piece of the puzzle that adds to my bullish stance on Coinbase is the TAM expansion, which should be on the horizon within the next year or so. U.S. dollar stablecoins have a market cap of about $250 billion as of mid-2025. Last year, according to the World Economic Forum : Total transfer volume… hit $27.6 trillion last year, surpassing the combined volume of Visa and Mastercard transactions in 2024. With tons of supply growth potential, I think that the market cap could reach up to $2-3.7 trillion under full institutional adoption. I believe that will happen. Given this high market cap potential, I think that Coinbase could capture 25% market share. With an average potential market cap of $2.85 trillion, if we assume Coinbase custodies 25% of the market, that equals $712 billion in assets they can custody. Valuation If we look at the valuation metrics provided by Seeking Alpha, we can immediately see that this is a very unique set of circumstances. Seeking Alpha Quant gives Coinbase an overall valuation grade of an F. Interestingly, more than half of all the grades handed out by Seeking Alpha Quant to Coinbase are Fs. And the best grade that Coinbase earns on its valuation chart is a D, and that grade comes on two metrics: forward EV/Sales and forward EV/EBITDA. Looking at the forward Non-GAAP price-to-earnings ratio, the sector median on this metric is just 10.37. Meanwhile, Coinbase has a ratio of 44.13. This is a 325% premium to the sector median, and Seeking Alpha Quant gives Coinbase a grade of an F on this metric. I’ve already mentioned that the forward EV/Sales grade is a D (which is the best grade on the sheet), but when we look at the exact ratio which is 8.22 and compare it to the sector median of 3.01, we can see that this is still a 173.45% premium to the sector median. Although these may seem like high premiums, I actually believe that these premiums are reasonable, given Coinbase’s ~76% YoY revenue growth vs. the ~6.4% for traditional finance. I also think that there are a lot of growth opportunities for Coinbase. Rising net interest income and operating leverage from stablecoin activities should further expand margins and EPS. For example, if Coinbase made just 1% net interest income spread on the over $700 billion of projected assets they will custody on stablecoins, that will equal $7 billion in additional net income that can flow, basically, directly to their bottom line. If we add a 10x price-to-earnings multiple to this $7 billion of stablecoin net interest income, this would create an additional $70 billion of market cap upside. This would give Coinbase 81% upside for shares. Of course, this assumes that there is no dilution for Coinbase shareholders. I find dilution to be unlikely. Coinbase currently has a $1 billion share buyback program outstanding. Risks While I am highly bullish on Coinbase, I will admit that it is not risk-free. Even though I think that there is 81% upside, there is still a chance that shares go down from here. First of all, I cannot lie: the altcoin market concerns me. As I wrote about on Strategy ( MSTR ) recently, I’m concerned about the depth of the financing strategies that some Bitcoin treasury companies are employing. In the case of Strategy, the company now has a series of senior and junior preferred shares they are using to borrow money to buy Bitcoin. As we saw at the beginning of the 2024 altcoin bear market, a severe bear market would compress trading volumes and fees. As we’ve seen with past slumps like the mid-2024 altcoin declines, these bear markets have sharply dented altcoin engagement, but have not hurt Coinbase’s stock price. Part of the reason that Coinbase’s stock has continued to do well when altcoins have done poorly is because of Bitcoin’s outperformance. My concern with some of these Bitcoin treasury companies is that they are now higher risk companies and some of the smaller ones (not Strategy) could face an effective margin call, which could compress Bitcoin prices. This could lower trading volumes and commissions for Coinbase. To offset this Bitcoin risk, this is why I am so optimistic on the GENIUS Act. The GENIUS Act offers the promise to bring Coinbase hundreds of billions of dollars in new deposits. I like to think of this as an all-weather cryptocurrency product that can help the company weather future cryptocurrency winters. Bottom-Line In essence, I am reaffirming my strong buy stance on Coinbase. I am hopeful for the future because of the immense upside that the GENIUS Act can provide Coinbase. So far year-to-date, Coinbase has had robust transaction volume and stablecoin growth even before the GENIUS Act passed in the U.S. Senate. In addition, the growing subscription base set a solid foundation for the company. I believe that the GENIUS Act delivers regulatory clarity that unlocks institutional and corporate stablecoin adoption. I think that this plays directly into Coinbase’s infrastructure strengths, in terms of exchange, custody and Base. This could unlock trillions of dollars for the overall stablecoin market and over $700 billion of new assets for Coinbase to custody. Being a stablecoin custodian is hard, I feel like most corporations and most traditional banks will turn to Coinbase to custody their stablecoins. While altcoin volatility does concern me, the combination of improving fundamentals, favorable regulation and massive TAM expansion makes Coinbase one of my favorite picks for scaled exposure to the maturing crypto economy. With this, roughly 300 days after publishing my last coverage, back then giving the company a strong buy rating, I continue the same sentiment in this article. Shares are still a strong buy.
Tesla CEO maintains his high reputation within DOGE community