Elon Musk’s latest announcement reveals that X’s new direct messaging feature will incorporate what he describes as “Bitcoin-style encryption,” igniting interest and debate among crypto enthusiasts. With the introduction of
Elon Musk says X's new direct messaging feature will have “Bitcoin-style encryption,” which Bitcoiners were quick to correct and explain the technicalities.
Japanese firm Metaplanet has expanded its Bitcoin reserves again, acquiring 1,088 BTC at an average price of 15.5m yen per coin, or about $108,600. The total spend for the purchase came to 16.89b yen, equivalent to roughly $118m, pushing its cumulative Bitcoin holdings to 8,888 BTC. The latest acquisition, disclosed on Monday, is part of Metaplanet’s aggressive shift from its origins as a budget hotel operator to a Bitcoin-first corporate treasury model. That strategy, launched in 2024, has fueled both a meteoric rise in its share price and heightened scrutiny from hedge funds. CEO Simon Gerovich recently remarked that Metaplanet had become Japan’s most shorted stock , warning that betting against Metaplanet is like betting against Bitcoin. *Metaplanet Acquires Additional 1,088 $BTC , Total Holdings Reach 8,888 BTC* pic.twitter.com/X2clAIKNbR — Metaplanet Inc. (@Metaplanet_JP) June 2, 2025 Aggressive Bond Issuances Fuel Metaplanet’s Rapid BTC Accumulation To fund its crypto purchases, the company has been tapping capital markets at speed. On May 29, Metaplanet issued $21m through its 17th series of zero-coupon, non-interest-bearing bonds. This followed a $50m bond issuance slightly earlier. Proceeds from both have gone directly into Bitcoin acquisitions. Metaplanet now holds Bitcoin acquired at an average price of 13.76m yen per coin, or about $96,300, totaling 122.27b yen, which translates to about $856m. In just over two months, its holdings have soared from 4,046 BTC at the end of March to 8,888 BTC by early June, more than doubling its position. Metaplanet Cements Its Bitcoin-Centric Strategy With BTC Yield Up 66% The company tracks performance using a proprietary metric called BTC Yield. This measures Bitcoin accumulation per fully diluted share. Between April and June, BTC Yield rose 66.3%. This followed a sharp 95.6% jump in the previous quarter. When converted to yen, and then to dollars, the gains show the impact of Metaplanet’s strategy on shareholder value. This comes despite the dilutive effect of new equity issuance. In Dec. 2024, Bitcoin was formally made a core business vertical. Since then, Metaplanet has steadily pursued its vision through aggressive capital deployment. Now, as one of Asia’s boldest corporate adopters of Bitcoin, the company shows no signs of slowing down. The post Metaplanet Adds 1,088 More Bitcoin — Total Portfolio Climbs to 8,888 BTC appeared first on Cryptonews .
Elliott Wave Theory offers traders a structured way to analyze market psychology and price trends, including the notoriously volatile bitcoin. Using Elliott Wave Theory to Navigate Bitcoin’s Cycles Having explored foundational tools like oscillators, moving averages, and Fibonacci retracement, it’s time to delve into Elliott Wave Theory for analyzing bitcoin prices. This advanced technical analysis
The post Is Fed Chair Jerome Powell Resigning Tomorrow? appeared first on Coinpedia Fintech News Rumors are doing rounds on the internet that Fed Chair Jerome Powell is set to resign today (June 1, 2025), and rate cuts are on the way. However, many X Users have dismissed these claims as baseless, as there is no official evidence to back them. Massive Market Crash To Follow? Some experts believe that the crypto market will see a parabolic run if the Fed Chair resigns, but any such event is unlikely as of now. However, if it were to happen, the financial markets would see a massive crash. This is because a sudden loss of leadership at the Federal Reserve would damage confidence in both the U.S. dollar and the broader economy. Powel to resign tomorrow I see lots of these nonsense posts on CT today Let me tell you 1st – it’s not gonna happen 2nd – if that happened, the markets would dump significantly Why? Trust in dollar and US economy would decrease instantly Just remember what happened… pic.twitter.com/1U2wEVNFE5 — Lana Queen (@Lana_Queen7) June 1, 2025 They also pointed out the market’s negative reaction when President Trump had just expressed a desire to remove Powell. Polymarket betters are also not buying the Powell resignation rumors. Despite the discussion on X, the odds on the Polymarket contract “Will Trump remove Jerome Powell in 2025?” held steady at 12%. Just recently, Trump summoned Powell to the White House and criticised him for not cutting the interest rates. But Powell was firm on his decision, saying that the policy decisions will be based on economic data and not politics. The Fed has held rates steady at 4.25% to 4.50% for a third straight meeting. Although Trump continues to push for rate cuts, in a recent interview, he said he has no plans to fire Powell, noting he’ll be able to replace him soon anyway, saying, “it’s in a very short period of time.” Bitcoin Shows Resilience Recently, the US Dollar crashed to a three-year low, and Wall Street was trading in red. Now, Bitcoin normally follows the Wall Street sentiment. However, this time it stood strong. So, with Bitcoin showing surprising strength, investors might be eyeing Bitcoin as a safer bet in times of chaos. Some analysts note that Bitcoin does not need QE, saying that institutional adoption and regulations can drive the next bull run too. Bitcoin is currently trading at $104,967. Indicators show that the current rally may be nearing a short-term top. While it remains in a bullish trend, data from Cryptoquant shows that the market may be overheating.
XRP is consolidating near a critical support level as fresh institutional tailwinds hint at a possible reversal. At the time of writing, XRP ( XRP ) is trading at $2.17, down 1.2% over the past 24 hours and 6% over the past week. Over the previous seven days, the token has traded between a narrow range of $2.11 and $2.35, indicating that the market is uncertain of its next course. Volume data supports the caution. With $1.51 billion in trading volume over the past 24 hours, XRP has seen a nearly 37% decrease in activity compared to the previous day, indicating a slowdown in spot market activity. The derivatives market also saw declining volumes. According to Coinglass data , XRP futures volume fell 37.85% to $2.97 billion, while open interest dipped 3.39% to $3.90 billion. While short-term sentiment cools, institutional interest in XRP is quietly accelerating. On May 29, Coinbase Institutional announced it will launch 24/7 trading access to XRP and Solana ( SOL ) futures for U.S. investors starting June 13. Starting June 13, we’re enabling 24×7 trading for $XRP and Solana ( $SOL ) futures, unlocking real-time access to U.S. traders, reflecting the always-on nature of crypto markets. — Coinbase Institutional 🛡️ (@CoinbaseInsto) May 29, 2025 The move follows the company’s April rollout of CFTC-regulated XRP futures through Coinbase Derivatives. Coinbase described the product as a capital-efficient method for gaining exposure to “one of the most liquid digital assets” and is now building toward continuous market access to match crypto’s round-the-clock rhythm. You might also like: Top 4 reasons why XRP price may surge 50% in June Another key milestone came from Ault Capital Group, a subsidiary of publicly traded Hyperscale Data. Also on May 29, the firm announced a Q3 rollout of an institutional XRP lending platform aimed at public companies listed on the New York Sock Exchange and Nasdaq. The platform will provide futures-hedged, asset-backed loans, with all contracts tracked on-chain through the XRP Ledger. ACG will buy up to $10 million worth of XRP to support the initiative and manage volatility with Chicago Mercentile Exchange futures. Despite this institutional backdrop, technicals remain cautious. The token hovers just above the lower Bollinger Band near $2.12, with the midline at $2.34 now acting as resistance. At 40.82, the relative strength index is getting close to oversold territory without yet indicating a reversal. XRP price analysis. Credit: crypto.news Except for the 200 estimated moving average, which is still supportive, moving averages across all major timeframes flash sell signals. This indicates that although XRP is still above its long-term trend floor, it’s currently in a medium-term correction phase. The moving average convergence divergence, which is below the signal line with a negative value of -0.027, supports the short-term bearish bias. Immediate support lies at $2.12. A breakdown below this level could open the way to test the psychological $2.00 level, with stronger structural support near $1.91–$1.95 based on historical consolidation. On the upside, the first resistance is at the 20-day simple moving average around $2.34, followed by the upper Bollinger Band at $2.56. Bulls would need to reclaim these levels to reestablish trend control. Read more: Can XRP fall back to $2.20? Ripple foundation making moves
On June 2nd, COINOTAG reported a significant market movement as a whale address beginning with 0x0f93 transferred 756,766 MASK tokens to Binance. This transaction, valued at approximately 2.1 million USD,
A shocking kidnapping case has emerged in Manhattan, where two men allegedly held an Italian crypto investor hostage for 17 days in a bid to access his Bitcoin wallet. Authorities
Prosecutors allege Duplessie and Woeltz held an Italian national hostage for 17 days in a Soho townhouse to force access to a Bitcoin wallet.
Tech billionaire Elon Musk, the boss of X (formerly Twitter), Tesla, and SpaceX, announced on Sunday the launch of a brand-new messaging app called XChat. Neither the BTC market nor the tech community is impressed. One of the key features of the new offering is that it's built on a programming language called Rust with Bitcoin-style encryption. While it sounds exciting, the crypto community is not particularly psyched, raising doubts about what exactly it means. "Bitcoin primarily uses signatures, not encryption. This is like saying, we decided to run our rocket on water, since NASA uses Hydrogen and Oxygen," Ian Miers, Assistant Professor of Computer Science at the University of Maryland, said on X . Encryption refers to the process of scrambling data so that only authorised parties with the correct keys can unscramble and read it. However, transactions executed on the Bitcoin blockchain aren't encrypted but are signed. In fact, all data shared between Bitcoin nodes is unencrypted, allowing total strangers to interact with the network. "Needless to say "Bitcoin style" and "Rust" are not descriptions of an encryption scheme, nor are they strong indicators of security for a messaging app. Also, unless encrypted DMs are only in app, odds are they aren't just in Rust," Miers said . Bitcoin, the leading cryptocurrency by market value, traded flat near $105,000, having dropped over 3% last week, according to CoinDesk data. Other key features of the new offering include end-to-end encryption, disappearing messages, and the ability to send any type of file, including audio and video files, without a phone number across all platforms.