Pi Network celebrated Pi2Day 2025 by unveiling two transformative ecosystem upgrades, including an AI-powered no-code app studio and a novel staking feature to enhance app visibility. These innovations aim to
The broader cryptocurrency market remains relatively calm and for the past 24 hours there haven’t been any major movements. Bitcoin continues trading in a more or less narrow range between $106,000 and $108,000, begging the question if this is the calm before the storm and if a major move is just around the corner. Bitcoin Price Consolidates at $107K Bitcoin’s price didn’t go through any major moves during the past day and continues consolidating at around $107,000. The absence of volatility is also seen in the level of liquidations, which has declined by 4% on the daily, currently standing at around $200 million, according to Coinglass. The majority of them are short positions, meaning that the bulls are defending this area successfully, at least so far. As seen in the chart below, the price has managed to recover from the losses endured last weekend following the US strike of strategic Iranian nuclear bases. That said, as CryptoPotato reported, the number of larger wallets, holding 10 BTC or more, hit 152,280, which is the highest since March. This signals that deep-pocketed investors show a lot of confidence and might be positioning themselves for an incoming rally. Source: TradingView Altcoins Trend Flat but Leaning Bullish The majority of large-cap altcoins are trading in the green. They are not charting any significant gains, but the heatmap is obviously leaning bullish. Notably, Ripple’s XRP is charting gains of more than 4% on the day, being the best-performing altcoin from the top 10 by means of total market capitalization. Bitcoin’s market dominance is down by around 0.5% in the past 24 hours, which shows that the altcoins are attempting to capitalize on its flat trend. It’s interesting to see if this will continue. The best performer today is Quant (QNT), which is up 6.5%, followed by SPX6900 and Jupiter (JUP), both of which are up by 5.3% and 4.8%, respectively. On the other hand, Aptos, Pi Network, and SEI are today’s worst performers, down by 7.7%, 3.8%, and 3.6%. Source: Quantify Crypto The post Calm Before the Storm? Bitcoin Consolidates Around $107,000: Weekend Watch appeared first on CryptoPotato .
The post Coinpedia Digest: This Week’s Crypto News Highlights | 28 June, 2025 appeared first on Coinpedia Fintech News What a week! From courtroom setbacks to bold state-level Bitcoin bets, the past few days saw a mix of strong signals and deeper tensions. Big names like Coinbase, Tether, Mastercard, and Trump Media all made headlines – for very different reasons. While regulators in the U.S. debate the future of crypto laws, state governments are moving faster. And behind the scenes, institutions are starting to quietly step in. If you’ve struggled to keep track, I’ve got you. Here’s everything that mattered this week. Dive in. #1 Coinbase helps recover $225M in crypto fraud case One of the biggest crypto fraud recoveries ever happened! The U.S. Secret Service seized $225 million in USDT tied to pig butchering scams, with Coinbase helping trace funds and identify over 130 victims. The operation uncovered a global web of fake investment platforms and romance scams, many linked to trafficked individuals. Tether froze the assets, later burning and reissuing them to a wallet under government control. Coinbase’s blockchain analysis and subpoenas played a key role and now, it’s urging affected users to file claims. #2 Trump Media Moves to Buy Back $400M in Shares Trump Media & Technology Group (TMTG), the parent of Truth Social and Truth+ announced a $400 million stock repurchase plan. The board’s approval signals strong confidence, with CEO Devin Nunes saying the company now has “flexibility to take bold steps to create shareholder value.” The buyback will include both shares and warrants, and all repurchased securities will be retired. But the real gem? This won’t change the company’s $2.3 billion commitment to Bitcoin. With $3 billion in reserves, TMTG seems ready to play big on Wall Street and on-chain. #3 Texas Becomes 3rd U.S. State to Back Bitcoin with Reserve Law Texas has signed off on a bold new law: a Bitcoin reserve for the state’s finances. Governor Abbott just approved SB 21 – the Texas Strategic Bitcoin Reserve Act – which lets the state hold Bitcoin as a hedge against inflation and market volatility. Only assets with a $500B market cap qualify, and right now, that means just one player: Bitcoin. A five-member advisory panel will oversee it, and a companion bill ensures legal safeguards are already in place. The law kicks in September 1, 2025. #4 Chainlink Powers Fiat-to-Crypto with Mastercard This could change crypto onboarding for good! Mastercard and Chainlink are teaming up to let 3.5 billion cardholders buy crypto directly on-chain. Powered by Swapper Finance and ZeroHash, the integration enables instant fiat-to-crypto conversions on Uniswap, backed by Mastercard’s global rails and fraud protection. BUT fees still bite. And oddly, USDC isn’t supported (yet), while USDT, PYUSD, and USDe make the list. #5 SEC and Ripple Tried to Settle – But the Court Said No A federal judge has thrown out a joint attempt by the SEC and Ripple to settle their long-running XRP lawsuit. The deal would’ve reduced Ripple’s penalty from $125M to $50M and scrapped a permanent injunction but Judge Analisa Torres wasn’t having it. “The parties do not have the authority to agree not to be bound by a court’s final judgment,” she wrote. Her ruling leaves Ripple’s legal future hanging, with no confirmed next steps from the company or the SEC. #6 Banks Free to Serve Crypto Clients, Says Jerome Powell In a rare moment of clarity, U.S. Federal Reserve Chair Jerome Powell confirmed that banks are free to provide banking services to the crypto industry as long as they manage risk properly. Speaking on June 24, Powell made it clear: “Banks get to decide who their customers are.” The statement offers long-awaited reassurance to traditional institutions that have tiptoed around digital assets for years. Crypto services like custody and trading may now expand, but capital, liquidity, and compliance rules aren’t going anywhere. #7 Tether Aims to Dominate Bitcoin Mining by End of 2025 Tether isn’t mining Bitcoin for profit – it’s doing it to protect what it already owns. CEO Paolo Ardoino revealed that with over 100,000 BTC on its books, valued at $10 billion+, the stablecoin giant is now building mining infrastructure as a form of strategic defense. He explained that anyone chasing pure profits would be better off simply buying Bitcoin, not investing in infrastructure. Tether has already invested $2M+ across energy and mining projects, backing renewable power sources and local mining sites in a push to become the largest miner by 2025. #8 Schiff Targets Trump’s Crypto Profits with COIN Act U.S. Senator Adam Schiff has introduced the COIN Act – a bold bill designed to block top government officials from cashing in on crypto while in office. The move comes just as Donald Trump’s digital asset ventures hit headlines, with over $57 million reportedly earned from token sales alone. If passed, the bill would ban presidents, vice presidents, and senior officials from creating or promoting coins, NFTs, or stablecoins with penalties including forfeited profits and jail time. Schiff calls it a necessary guardrail against blurred ethical lines. Hard to argue with the logic. #9 Solana, XRP, DOGE ETFs? Analysts Say It’s Likely Bloomberg’s James Seyffart and Eric Balchunas are putting the odds at “90% or greater” for the approval of major crypto ETFs. Their updated forecast points to Solana, XRP, Dogecoin, and Litecoin getting ETF treatment, backed by what they call “constructive conversations” with the SEC. This shift could mean altcoins are now being viewed as commodities, placing them outside the SEC’s toughest grip. But don’t expect instant action – Seyffart notes final approvals could still be months away, possibly beyond October. #10 Two Crypto Bills Must Pass in 2025, Says Senator Lummis Senator Cynthia Lummis is done waiting. In a firm message on CNBC this week, the Wyoming lawmaker urged Congress to pass two major crypto bills in 2025: the GENIUS Act and the long-awaited market structure bill. “I’m not saying combine them, but they both need to pass this year,” she told Squawk Box’s Joe Kernen. Her comments come as lawmakers try to merge House and Senate proposals into a unified crypto framework with stablecoin clarity now a critical piece of the puzzle. In the Spotlight Here’s a few quick hits you shouldn’t miss! WazirX Avoids Liquidation After $234M Hack: Singapore’s High Court granted WazirX more time to revise its recovery plan after last year’s hack. The exchange is betting on tokenized repayments, but user trust and court approval remain shaky. Kraken Drops ‘Krak’ to Take On Global Payments: This is a cross-border payments app enabling instant international transfers across 300+ assets in 110 countries. The app also offers up to 10% yields on select digital holdings and rewards on USDG balances. Coinme Fined $300K in California’s First Crypto ATM Crackdown: Regulators say Coinme broke state rules by exceeding daily transaction limits and omitting key disclosures at its kiosks. The company will pay $300K in penalties, including restitution to a scam victim. Arizona Advances Bitcoin Reserve Bill: Arizona’s assembly has passed HB2324, a bill to create a Bitcoin and Digital Assets Reserve Fund using seized crypto assets. If signed, it would mark the state’s second crypto reserve law and signal growing momentum after Texas. CZ Flags Phishing Attacks: Hackers breached CoinMarketCap and Cointelegraph websites with fake wallet pop-ups, tricking users into exposing private data. CZ warned users to avoid wallet connections, as nearly $18,600 was stolen from 39 victims. What’s Next for Crypto? Major shifts to expect ahead The U.S. could finally clear the air. With Senator Lummis doubling down on the need to pass both the GENIUS Act and a market structure bill, 2025 may be the year the U.S. defines its crypto rulebook. But there’s a narrow window and plenty of political friction ahead. The altcoin ETF wave is gathering speed but timing is still unclear. The SEC’s softer stance signals progress, but a formal green light likely won’t come before October. Bitcoin reserves are no longer just a talking point. Texas is in. Arizona is close. Expect more governments and corporates to follow suit. Hacks and scams continue: user confidence is still fragile. Jerome Powell’s green light for banks to engage with crypto was big, but rate decisions still loom large. With inflation softening and rate cuts on the table, risk appetite could return fast Big shifts are happening in crypto. We’ll be here every week to break them down. See you soon!
BitcoinWorld Bitvavo Secures Landmark MiCA License for European Crypto Expansion The world of digital assets is constantly evolving, and with that evolution comes the increasing need for clear, robust regulation. For anyone deeply involved in the cryptocurrency space, whether as a trader, investor, or simply an observer, news of significant regulatory milestones is always met with keen interest. Today, we delve into one such pivotal development that is set to reshape the landscape of digital asset trading across an entire continent: the recent acquisition of a MiCA license by the Amsterdam-based crypto exchange, Bitvavo . Bitvavo’s Pivotal MiCA License: A Game Changer for European Crypto In a move that marks a significant leap forward for the regulated crypto industry, Bitvavo has been officially granted a Markets in Crypto-Assets (MiCA) license by the Dutch Authority for the Financial Markets (AFM). This isn’t just another regulatory approval; it’s a landmark achievement that underscores a growing maturity within the digital asset sector. The MiCA framework, set to be fully implemented across the European Union by the end of 2024, is the first comprehensive regulatory regime for cryptocurrencies globally. Its aim is to provide legal certainty, foster innovation, and protect consumers within the volatile crypto market. So, what exactly does this MiCA license signify? Essentially, it means that Bitvavo has met the stringent requirements set forth by European regulators concerning operational integrity, consumer protection, financial stability, and anti-money laundering (AML) protocols. For users, this translates into a much higher degree of confidence and security when engaging with the platform. It signals that Bitvavo operates under a harmonized set of rules designed to prevent market abuse and ensure fair trading practices. Unlocking the European Economic Area: Bitvavo’s Expansive Reach The most immediate and impactful benefit of this MiCA license for Bitvavo is its newfound ability to offer services across all 30 countries within the European Economic Area (EEA) . This includes the 27 European Union member states, alongside Iceland, Liechtenstein, and Norway. Previously, crypto exchanges often had to navigate a patchwork of national regulations, obtaining separate licenses or registrations in each country they wished to operate in. This fragmented approach created significant hurdles for expansion and often led to inconsistencies in consumer protection. With the MiCA license, Bitvavo gains a ‘passporting’ right, allowing it to seamlessly extend its operations and services across this vast economic bloc. This expansion is not merely about geographical reach; it’s about providing millions of potential users with access to a regulated, trustworthy platform for their crypto needs. Imagine the ease for users moving between EEA countries, knowing their preferred crypto exchange remains compliant and accessible. This unified approach is poised to accelerate the adoption of cryptocurrencies among both retail and institutional investors who have, until now, been hesitant due to regulatory uncertainties. Elevating Standards: Bitvavo as a Regulated Crypto Exchange The transition to operating as a fully regulated crypto exchange under MiCA is a testament to Bitvavo’s commitment to compliance and user trust. For a platform like Bitvavo, this means adhering to a new set of rigorous operational standards. These include: Enhanced Consumer Protection: MiCA mandates strict rules around disclosure, marketing, and the handling of client funds, ensuring greater transparency and safeguarding user assets. Operational Resilience: Exchanges must demonstrate robust IT systems, security measures, and contingency plans to prevent outages and cyberattacks. Market Integrity: Rules are in place to prevent market manipulation, insider trading, and other illicit activities, fostering a fairer trading environment. Capital Requirements: Exchanges are required to hold sufficient capital to cover potential operational risks, adding a layer of financial stability. For users, choosing a regulated crypto exchange like Bitvavo offers significant advantages. It provides peace of mind, knowing that the platform is subject to ongoing oversight by a reputable financial authority like the Dutch AFM. This regulatory stamp of approval can be a critical factor for individuals and institutions looking to enter the crypto market responsibly. The Road to Regulatory Compliance: Lessons from Bitvavo’s Journey Achieving this significant milestone wasn’t an overnight process. Navigating regulatory compliance in the nascent crypto industry is a complex and often challenging endeavor. Bitvavo’s journey involved extensive collaboration with the Dutch AFM , demonstrating a deep understanding of the evolving regulatory landscape and a willingness to adapt its operations to meet stringent requirements. This process typically involves: Comprehensive Application: Submitting detailed documentation outlining business models, security protocols, governance structures, and financial health. Operational Overhaul: Implementing new systems and processes to comply with AML, KYC (Know Your Customer), and consumer protection mandates. Ongoing Dialogue: Maintaining continuous communication with regulators, providing updates, and addressing any concerns. Bitvavo’s success story serves as a blueprint for other crypto entities seeking to legitimize their operations within Europe. It highlights the importance of proactive engagement with regulatory bodies and a long-term vision for operating within a structured legal framework. As the industry matures, such rigorous adherence to regulatory compliance will become a non-negotiable standard for credible players. Shaping the Future: MiCA’s Impact on the European Crypto Landscape Bitvavo’s MiCA license is more than just a win for one company; it’s a significant step forward for the entire European Economic Area crypto ecosystem. The full implementation of MiCA is expected to bring unprecedented clarity and stability to the market, attracting new capital and fostering innovation within a secure environment. We can anticipate: Increased Institutional Adoption: Banks, asset managers, and other traditional financial institutions will likely feel more comfortable engaging with regulated crypto service providers. Enhanced Consumer Trust: A unified regulatory framework builds confidence among retail investors, potentially leading to broader participation. Fairer Competition: By leveling the playing field for regulated entities, MiCA will push out non-compliant actors, improving the overall quality of services. Innovation with Guardrails: While regulating, MiCA also aims to allow for innovation, ensuring that new technologies can flourish within defined boundaries. The success of MiCA in Europe could also serve as a model for other jurisdictions globally, potentially inspiring similar comprehensive frameworks and fostering greater international cooperation in crypto regulation. Conclusion: A New Era for Bitvavo and European Crypto The granting of a MiCA license to Bitvavo by the Dutch AFM represents a monumental achievement, not just for the exchange itself, but for the broader European crypto industry. It signifies a pivotal shift towards a more mature, regulated, and secure digital asset landscape. As Bitvavo expands its services across the European Economic Area crypto market, it sets a new standard for operational excellence and consumer trust within the realm of crypto exchange regulation . This development promises to unlock new opportunities for growth, innovation, and widespread adoption, paving the way for a more confident and accessible future for digital assets. To learn more about the latest crypto market trends and significant regulatory developments, explore our articles on key events shaping European crypto and the future of institutional adoption. This post Bitvavo Secures Landmark MiCA License for European Crypto Expansion first appeared on BitcoinWorld and is written by Editorial Team
According to the latest data from Coinglass, centralized exchanges (CEX) experienced a significant net outflow of 11,770.52 BTC within the last 24 hours. Leading the withdrawals, Coinbase Pro recorded an
A cryptocurrency analyst and trader is offering his outlook on Bitcoin ( BTC ) as the flagship digital asset trades in a range. The analyst and trader pseudonymously known as Rekt Capital tells his 108,000 YouTube subscribers that Bitcoin is in a “transitional period” that could result in a price correction preceding a rally. According to the pseudonymous analyst, Bitcoin could first reclaim a major support level before an uptrend ensues. “So in the short term, maybe we could still see a bit of that downside deviation. But right now, the key level to reclaim is at least $104,400. That’s the level to reclaim as a support. We held this level for six, really, almost seven full weeks in total.” Rekt Capital says that if the $104,400 support level holds, Bitcoin could then attempt to flip the current range high and resistance level of around $109,000 into a support zone. According to the pseudonymous analyst, the new support zone, if confirmed, could act as a springboard for another leg up. “[Reclaiming] this level [around $109,000] as a support and doing that successfully would see it actually transition into that next uptrend…. If we do break out here, and once we’ve confirmed that breakout, then multiple weeks of upside should emerge from that… So it’s going to be really important for price to finally confirm its breakout. And once it’s done that, we’re going to have a bit of time to enjoy that upside into new all-time highs.” Bitcoin is trading at $106,710 at time of writing. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Trader Says Bitcoin in a Transitional Period, Predicts BTC Could See Multiple Weeks of Upside if This Happens appeared first on The Daily Hodl .
Crypto voters will be turning their attention to the mayoral election in New York City as the next battleground. The candidate representing the Democratic Party, Zohran Mamdani, will be facing a field of candidates in November, including those who have taken a firm stance on crypto and blockchain in the past. Mamdani defeated former New York Governor Andrew Cuomo on Tuesday, with 43.5% of the vote in New York City’s Democratic primary, snatching the flag to represent the party. The victory put the former New York State Assembly member in competition with Republican candidate Curtis Sliwa, current NYC Mayor Eric Adams, and Cuomo, who is expected to run as an independent candidate following his loss in the primary. Aside from Mamdani, all the major candidates have previously taken a favorable stance on the crypto industry. Crypto voters could decide New York mayoral election Current New York City Mayor Eric Adams first ran for mayor as a Democrat in 2021. During his campaign, he said he would accept his first three paychecks in Bitcoin . He has gone on to speak at crypto conferences, propose Bitcoin-backed municipal bonds, and hold a digital asset summit at the mayoral residence. Sliwa is expected to fall behind Mamdani in the pecking order, according to polls also ran against Adams in 2021. During his campaign, Sliwa also made many pro-crypto promises, appealing to the crypto population that was just opening up in the country. He promised to open more crypto ATMs in New York City and create a reward-based program for local businesses to accept digital assets. Cuomo, on the other hand, worked as an adviser for crypto exchange OKX in 2021 as United States authorities were investigating the company for operating a licensed money-transmitting business. According to a Bloomberg report at the time, the former New York City governor took up the job in August 2021 when he resigned as New York governor. “He spoke with company executives regularly and counseled them on how to respond to the criminal investigation,” the Bloomberg report said. Mamdani has also criticized Cuomo’s involvement with the exchange. “Andrew Cuomo could’ve spent the years since his resignation making amends and helping New Yorkers,” his April 2 post on X said. “Instead he hounded the women who spoke out about his serial harassment, fought to keep his book deal millions … and advised a foreign exchange that broke US law.” Popular crypto figures oppose Mamdani Since his win at the primaries, Mamdani has faced opposition from prominent figures in the industry, including Gemini co-founder Cameron Winklevoss. Tyler Winklevoss also hinted at “get[ting] involved in the NYC mayor race,” suggesting the financial backing of a candidate that could defeat Mamdani. The Winklevoss brothers were also involved in the United States presidential election in 2024, pledging millions of dollars to eventual winner Donald Trump’s campaign. Aside from those two, Bitcoin proponent and CEO of Professional Capital Management, Anthony Pompliano has also called on New Yorkers to oppose Mamdani. Hedge fund manager Bill Ackman also suggested that he was interested in backing any candidate with a chance of defeating Mamdani. “There are hundreds of millions of dollars of capital available to back a competitor to Mamdani that can be put together overnight … so that a great alternative candidate won’t spend any time raising funds. So, if the right candidate would raise his or her hand tomorrow, the funds will pour in,” he said. Whoever emerges as the winner in the mayoral election could have a significant impact on New York City’s crypto policies. New York City is one of the biggest business centers in the United States . It houses several crypto firms, including Gemini crypto exchange, payments company Moonpay, and stablecoin issuers Paxos and Circle. “If you’re in the crypto, blockchain, Web3, or the fintech space, New York City is open for business,” said Mayor Adams on May 12. KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage
BitcoinWorld Gemini Revolutionizes EU Trading: Tokenized Stocks Debut with MSTR A significant shift is underway in the European financial landscape as crypto exchange Gemini makes a bold move into traditional asset trading. For customers in the European Union, the door has just opened to a new form of investment: tokenized stocks. This groundbreaking development, announced by Gemini on X, commenced with tokenized shares of MicroStrategy (MSTR), a company famously known as one of the largest corporate Bitcoin holders. This isn’t just about offering another trading option; it’s a pivotal moment that could redefine how investors interact with both traditional and digital assets across the continent. Gemini EU: A New Era for European Investors? Gemini’s expansion into tokenized stock trading in the European Union marks a strategic step in bridging the gap between conventional finance and the burgeoning digital asset economy. By starting with MSTR, Gemini is not only offering access to a well-known company but also subtly nodding to the crypto community, given MicroStrategy’s significant Bitcoin (BTC) reserves. This initial offering is just the beginning, with Gemini promising to roll out additional tokenized stocks and exchange-traded funds (ETFs) in the coming days. For European investors, this means a potential broadening of investment horizons, offering new avenues for portfolio diversification and accessibility to global markets through a regulated crypto platform. What Are Tokenized Stocks and Why Do They Matter? Tokenized stocks are digital representations of traditional shares that are issued and managed on a blockchain. Think of them as a blockchain-powered certificate of ownership for a fraction or whole of a traditional stock. This innovative approach brings several compelling advantages: Fractional Ownership: Investors can buy a small fraction of a high-priced stock, making investing more accessible to those with smaller capital. 24/7 Trading: Unlike traditional markets with fixed trading hours, tokenized stocks can potentially be traded around the clock, reflecting the always-on nature of cryptocurrency markets. Increased Liquidity: By opening up trading to a global, always-on market, tokenized assets can potentially benefit from enhanced liquidity. Transparency: Blockchain technology offers a transparent and immutable record of transactions, which can foster greater trust and reduce fraud. Reduced Costs: The streamlined nature of blockchain transactions may lead to lower fees compared to traditional brokerage services. For the average investor, tokenized stocks offer a novel way to gain exposure to traditional equities without navigating complex international brokerage accounts, all within the familiar environment of a crypto exchange. MSTR Trading: The Strategic Debut The choice of MSTR for the debut of tokenized stock trading is highly strategic. MicroStrategy, under the leadership of Michael Saylor, has become synonymous with corporate Bitcoin adoption, holding over 200,000 BTC. This makes MSTR’s stock performance often closely tied to the movements of Bitcoin itself. By offering MSTR tokenized shares, Gemini provides European investors with an indirect, yet significant, exposure to Bitcoin’s price action through a regulated stock. This allows even traditional investors who might be hesitant to directly buy BTC to participate in the broader digital asset ecosystem. The availability of MSTR trading on a platform like Gemini could also attract existing Bitcoin holders looking for alternative ways to manage their exposure or diversify within the digital asset space. The Role of a Crypto Exchange in Bridging Traditional Finance Gemini’s foray into tokenized stocks underscores a growing trend where crypto exchange platforms are evolving beyond mere cryptocurrency trading venues. They are becoming crucial bridges connecting the established world of traditional finance with the innovative realm of digital assets. This move by Gemini is not just about expanding its product offering; it’s about pioneering a new model for global investment. By integrating regulated securities onto a blockchain, Gemini is demonstrating the practical applications of distributed ledger technology (DLT) beyond just cryptocurrencies. This integration promises a more efficient, accessible, and potentially more inclusive financial system, benefiting both seasoned investors and newcomers alike. Implications for Bitcoin Holders and the Digital Asset Landscape For existing Bitcoin holders, Gemini’s tokenized MSTR offering presents an interesting dynamic. While it doesn’t replace direct BTC ownership, it offers another layer of financial product that reflects Bitcoin’s influence. It could also lead to increased institutional interest in the broader digital asset space as traditional assets become more intertwined with blockchain technology. This development validates the long-held vision of a tokenized economy where virtually any asset, from real estate to art, can be represented and traded on a blockchain. Challenges remain, including regulatory clarity across different EU member states and ensuring robust liquidity for these new instruments. However, Gemini’s initiative signals a strong belief in the future of integrated financial markets, where digital assets play a central role. A Glimpse into the Future of Investment Gemini’s launch of tokenized stock trading in the EU, starting with MSTR, is more than just a new product offering; it’s a testament to the ongoing evolution of global finance. It represents a bold step towards a future where traditional and digital assets coexist seamlessly, offering unprecedented access and flexibility to investors. As more tokenized assets are introduced, the lines between traditional stock exchanges and crypto platforms will continue to blur, creating a more interconnected and potentially more efficient investment landscape for everyone. This move by Gemini is a powerful indicator of the transformative potential of blockchain technology in reshaping how we perceive, own, and trade assets. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin’s institutional adoption. This post Gemini Revolutionizes EU Trading: Tokenized Stocks Debut with MSTR first appeared on BitcoinWorld and is written by Editorial Team
Summary At first glance, Coinbase appears to be a play on crypto prices. Company profits and the stock price have been behaving that way. COIN started in 2012 as a bitcoin exchange and since then has added more coins to its trading repertoire and a lot more capabilities for its users. But the company has bigger visions. It says crypto is “eating financial services” and that it’s number one in crypto. That’s big talk, but the world seems to be evolving in COIN’s favor. Stablecoin, a crypto pegged to a non-crypto asset (usually the dollar) unites the blockchain with ordinary commerce. That paves the way for a big disintermediation wave (like others we’ve seen in the past) that bypasses costly, time-consuming middlemen. My “Buy” For COIN reflects this, not the next move in crypto prices. I’m undecided… Pastrami (piled high) with a bit of mustard, and grease moistening the bread. Or perhaps, a thick hot bagel with cream cheese and blueberry jelly. It’s a good thing I’m not running things at Coinbase Global (NASDAQ: COIN) . Brian Armstrong has different and more decisive tastes. He’s the CEO and Co-Founder of COIN. He shared his food craving with analysts on the company’s 5/8/25 earnings call . He said: I think in 5 to 10 years, our goal is to be the number one financial services app in the world across those customer segments because we believe that crypto is eating financial services, and we are the number one crypto company …. (Emphasis added.) So, he didn’t directly say COIN is eating financial services. But he sure as heck implied it. The story is quite old. But his verbiage is new… and cool. I remember such behavior described using a much bigger word… disintermediation. It came of age… in 1966 when Regulation Q interest rate ceilings prevented banks and savings institutions from competing effectively with non-depository institutions, such as brokers, disrupting the banks' ability to lend. The double-digit inflation of the late 1970s… caused many consumers to put their liquid assets in short-term money funds…. Finally, in 1980, federal legislation unleashed deposit interest rates. That let banks credibly compete with interlopers who had been disintermediating them. This doesn’t only happen in finance. Consider how easy it was to shop for air travel bargains? Pre-internet, you’d have worked with your favorite travel agent. Do these even exist today? Even now, nearly 60 years after regulation Q, disintermediation, bypassing middlemen, is still a huge finance topic. It’s so huge, that the author of a 3/30/25 letter to the Financial Times may at some point wish the editors hadn’t published his missive : Crypto is no more an investment than investing in a horse race at the bookmakers. Call it what it is: speculation or gambling. COIN is playing a leading role in working to make sure that letter ages dismally. To be sure, I’m a recent convert. As recently as 5/9/25 , I’d been justifying Bitcoin as a digital collectible. I struggled to see it as commercially useful. Digging into COIN has been making me expand my thinking. The company’s business, already complicated, is getting more so. The numbers are volatile to the point of mocking forecasts. The stock’s valuation… I’ve seen worse, but this isn’t for Graham & Dodd or Warren Buffett disciples. But COIN is a change-the-word company. There can never be an assurance of success. But COIN is proceeding… let’s say racing ahead… sensibly. And having been in stock analysis since late 1979, I’ve often seen how these companies, despite scary numbers early on, can turn into wealth-creation machines for shareholders. The COIN Basics The firm launched in 2012. It was a platform through which people could buy and sell Bitcoin. Based on what we know of stockbrokers (old-time brick-and-mortar and now online), that sounds sparse. We’ve seen how stockbrokers added ancillary capabilities over time. They now trade many types of securities beyond stocks. They spread beyond the U.S. They perform bank-like functions. They offer advice. You know the drill. Responding to the needs of its growing user base, COIN pursued an analogous path. Over the years, COIN has added such things as: More kinds of crypto to the product it trades Different platforms for new or casual users versus advanced traders Custody services to hold its customers’ crypto Wallets for its customers Institutional services Crypto derivatives Capabilities beyond the U.S. A credit card that lets users buy things with their crypto Subscription services New offerings make it easier to attract more users. More customers give COIN the wherewithal to add more offerings. It looks like COIN is enjoying a virtuous cycle. How COIN ranks relative to rivals depends on what you count. According to a 5/7/25 source, COIN isn’t close to being the trading-volume top dog. Binance is tops with a 38.0% market share . COIN, with a 6.9% share, is sixth. For assets under management, a 2/8/25 source quotes COIN CEO Armstrong as follows: If you think of Coinbase as a bank, we now hold about $0.42T in assets for our customers, which would make us the 21st largest bank in the US by total assets, and growing. If you think of us more like a brokerage, we’d be the 8th largest brokerage today by AUM. Details aside, I think we can agree that COIN is big in terms of AUM. That’s especially so given how young COIN and the crypto industry are and despite COIN’s relatively high trading costs and fewer tradable crypto coin types. Generally, you can easily drive yourself crazy trying to specify more detailed item-for-item comparisons between COIN and rivals. (If you want to try with Binance, you can start here .) An investor looking for a sense of how COIN compares versus its many rivals (including Binance), would do well to simplify this: For cheapest pricing, maxing out on features, and something akin to wild-west type freedom, COIN would not be the platform of choice. For a more establishment-/compliance-friendly, easier-to-use platform, COIN is likely to have the most appeal. For as rapidly as COIN has been growing, it remains the conservative choice in the context of the crypto world. That doesn’t mean it's always smooth sailing. Growth Patterns For one thing, growth has been breathtakingly choppy. That shouldn’t surprise anyone, given how volatile crypto prices have been. This is still a very new asset class. And many still do not accept its legitimacy. (See, for example, the above-quoted letter to the ft.com editor. And for a chuckle, check the “ me know that's not real money ” bit I described on 5/9/25.) So, nothing in COIN’s data resembles the straight or even straight-ish growth patterns investors cherish. Here’s the historical information for COIN’s Monthly Transacting Users (MTUs). Analyst compilation based on data from company 10K documents Speaking like an equities technical analyst, I might say that after an initial surge, MTUs have corrected, found, and bounced off of a support level, and are now rallying towards the last peak. What’s next? Can MTUs break through the old high? Or will it run into “resistance?” I think it will break through. We know anecdotally that crypto acceptance is expanding. It’s even becoming a respectable treasury asset. Meanwhile, the public took note of our newly elected pro-crypto administration… On 11/24, COIN’s new customer additions jumped 704%. That receded to 476% in 12/24. We can’t yet know how many of these newbies will eventually become MTUs. Nor do we yet know how much longer COIN’s super-normal user growth will persist. But the ears-to-the-ground perception of evolving attitudes toward crypto augurs well for future growth. So, too, do new directions in which COIN has been pointing its business (see below). Toward a More Constructive Legal/Regulatory Framework The SEC recently tried to accuse COIN of trading in securities outside the agency’s standard framework. Securities? Is crypto that sort of asset? That posed intriguing questions for federal courts. Ultimately, though, in January 2025, with a new pro-crypto administration entering Washington, the SEC abandoned its efforts. (See generally, here .) That doesn’t mean regulators will turn blind eyes to crypto. Instead… It suggests that regulatory agencies are acknowledging the need for a more modern and tailored approach…. (amid the likelihood that) Congress must also step in and set a clear course for the cryptocurrency industry. Beyond the legislature, the SEC’s evolving stance may also encourage further collaboration between regulators and industry participants, paving the way for regulation that balances consumer protection with innovation. I expect COIN to be deeply involved in any such collaboration. That’s the sort of compliance-friendly culture through which COIN differentiates itself from rivals. Beyond the Basics Let’s consider here two crypto-centric aspects of COIN’s business. You won’t find these in traditional financial services. Staking Staking is a way COIN (and/or similar entities) and its users can make money by helping to manage the blockchain. The blockchain is “ the official Bitcoin public ledger .” You can imagine it being crypto’s answer to the Federal Reserve. Both are the bosses, the authorities that control things within their respective domains. The Fed rules conventional money (fiat currency). The blockchain rules cryptocurrency. (Each type of crypto has its own blockchain. Similarly, each fiat currency has its own Fed-like king.) So much for similarities. Now come the differences. The Fed is a centralized authority staffed by appointed humans. How do you get to be a Fed governor? You have to know and be liked by somebody, like a head of state. How do those folks decide what to do? Don’t we all wish we knew. If we did, we wouldn’t keep pouring gobs of cyber-ink into never-ending analyses and predictions. The blockchain is a centralized authority staffed-so to speak, by computer stuff (data, code). How does the computer stuff get into (hired by) the blockchain? It has to be logically legit. Put another way, it has to be validated. That’s done by validators . These entities… Verify transactions, propose new blocks, and participate in consensus mechanisms to ensure the accuracy and reliability of the blockchain…. (They) work by verifying transactions, securing the network against attacks, and making sure that only legitimate transactions are added to the blockchain ledger. Instead of relying on traditional mining methods, crypto validators put up a stake as collateral, which can be forfeited if they behave maliciously or fail to perform their duties properly . (Emphasis added.) You (the entity, like COIN) do this by computer. There’s no fiat here. You get to be a validator through a selection process. It gives heavy emphasis to how much skin you have in the game… in other words, how much crypto you post as collateral. COIN can post its own crypto as collateral. But its chances of being chosen rise if its users help by chipping in some or all of the crypto they hold at COIN. When users do that, we say they are staking their crypto. They never lose custody of their crypto. It all stays in their wallets. They do, however, give up the right to withdraw the crypto for as long as they leave it staked. Now here’s the good part… COIN and its users get paid for staking crypto and serving as validators . The network pays COIN by awarding it crypto coins. And COIN shares its reward with the users who staked (in proportion to how much each staked). Potential income to users is not trivial. As of this writing , COIN was suggesting they could earn up to a 14% APY. I call out staking here for two reasons. First, I want to demonstrate an interesting income source available to COIN and its users. Second, I want to expand on what I previously wrote about the important role of the blockchain. Note, in particular, how broadly decentralized it is… no fiat, no political appointees, no media pressure. This will help crypto eat financial services. Now, let’s look at another recipe item… Stablecoin So, what exactly determines prices for crypto coins? That’s easy… supply and demand. So, what determines supply and demand? How many hours, days, etc. do you have to consider all the opinions on these topics? That’s why crypto has been so darn volatile! So, what exactly determines the price for stablecoin? That’s easy… each is worth one dollar (or is priced in terms of another asset… though 99% are presently dollar-based). Huh? Does that mean supply and demand are in equilibrium when stablecoin trades for one dollar? No. Stablecoin is specifically and by definition pegged to the dollar, one-to-one. Then what’s the point? Why not just use dollars? Because stablecoin lives (is stored and exchanged) on the blockchain. If you want to join COIN in eating financial services, consider this your set of utensils. Stablecoins are primarily used for trading crypto assets, transacting in goods services, insulating against local currency instability, and sending payments across borders…. Investors increasingly use stablecoins rather than cash to buy into and out of crypto asset investment positions, since many exchanges make it quicker and easier to trade with crypto assets than with real-world assets. ( Source .) This is how we can join crypto with regular commerce. (The key isn’t in crypto fluctuations. It’s about the blockchain.) There’s also an interesting here-and-now-and-growing angle to this. COIN is like a stablecoin banker. It issues USDC, a type of stablecoin (together with 50-50 partner Circle Internet Group), and holds dollars in reserve. Dollar reserves equal the value of the stablecoins. (Regular banks hold much smaller percentages of asset value in reserve.) COIN and Circle earn interest (50-50) by investing the dollars in U.S. Treasury Bills or equivalent interest-earning assets. And COIN gets 100% of interest earned by investing reserves relating to stablecoins owned by users but held on COIN. That is turning into a nice and growing income stream for COIN. Salivating Over the Chez Financial Services Dinner Menu (a/k/a Progressing Toward Disintermediation) One reason why I discussed staking and stablecoin is, obviously, to explain the nice business opportunities COIN is enjoying today. But blockchain plus stablecoin equals one heck of a way to revolutionize commerce. (Hence the change-the-world investment case for COIN). Before going on, I should add one more point. Each crypto coin has its own blockchain. Each such chain has unique characteristics in how it works. Speed variations are important. And the Ethereum chain can record smart contract terms. These are self-executing… As soon as “A” is verified, then “B” automatically happens. Much of this would relate to verifications of ownership, rights, liabilities, etc. That sounds like a breathtakingly dull topic. It is. And as a result, it’s seldom discussed (aside from cybercrime and the angst that brings). But verification is CRITICAL. If you want a sense of how critical, check out The Mystery of Capital by Hernando de Soto. In sum, de Soto argued that developing countries haven’t been stunted by a lack of assets. Instead, he says, it’s been about property ownership being “secured informally, which prevents the use of property as collateral. The inability to convert assets into capital keeps the developing world from benefiting from capitalism.” I didn’t get a chance to look into whether the economies he discussed improved since the book’s 2000 publication . Either way, I found it eye-opening. I always understood authentication is important. But I never realized how important it is until I read de Soto’s work. The blockchain, as a penultimate super-verified set of records, opens up new possibilities. The idea is to eliminate intermediaries, cut costs, and boost speed, all with unprecedented reliability. We’re already starting to see early implementations. For example, BitPesa uses blockchain to facilitate cross-border payments in Africa. Traditional methods are slow and costly. BitPesa slashes transaction times and costs. Companies like AXA have implemented smart contracts for flight delay insurance. They automate claim processing, ensuring quick payouts. Walmart uses blockchain to track food products. Working with IBM, it set up a decentralized real-time database of product origins. That helps with traceability and assuring safety. Pharmaceutical companies like Pfizer use blockchain to track the entire supply chain. That lets it verify medication authenticity and ward off counterfeiting. Ubitquity provides title management solutions using blockchain. That makes property transfers more efficient and secure. Energy companies like LO3 Energy use it for peer-to-peer energy trading. Consumers can directly buy and sell excess energy through a secure network. MovieCoin uses cryptocurrencies to finance and distribute films. That benefits both investors and producers. Today, such things seem minor. Might any of them amount to a portion of the EPS of any company that, expressed as two decimal places, would round to more than $0.00? I doubt it. But imagine ahead. Old-timers like me might have an edge here. We’ve seen much in terms of how extensively, boldly, and rapidly tech can evolve. (Many believe teens and 20-somethings can better use new tech. I think that’s an open question. But we 60 and 70 or more somethings have seen and experienced a lot. Don’t underestimate our ability to visualize future potential! Perhaps that’s why, as I aged, I became more of a growth investor.) In sum, I believe crypto and COIN really will wind up eating financial services. The Numbers Warning… You’re going to see a lot of volatility here. So far, it’s been… as goes crypto prices, so goes COIN (the company and its stock). That will account good and bad things you’ll see. The investment case here can be about crypto’s next big move… if you are trading-oriented and want to approach it this way. I’m not. My case for COIN is based on my belief it’ll progress beyond all these numbers as it swallows and digests financial services. So now, let’s start with the quarterly revenue and EPS trends. Analyst Compilation based on Data from Seeking Alpha Earnings and Financials Presentations Analyst Compilation based on Data from Seeking Alpha Earnings and Financials Presentations How ‘bout those roller coaster EPS comparisons! Try summing the quarters and comparing your answers to the annual figures. These are completely independent data items computed by Seeking Alpha’s data provider. They don’t depend on one another. When the annuals are so far off from the sums of the quarterlies, that, to me, indicates that analysts collectively do not have a handle on their numbers. I’ve done time in the analysts’ places. So I understand. There’s often much less science and a lot more guessing than many realize. For COIN, I expect it's mainly the latter. Now, take a look at the historic and expected forward growth rates. (I compare COIN to medians among companies in the Financial Exchanges and Data industry and in the portfolio of the SPDR S&P 500 ETF ( SPY ). I use medians since these aren’t impacted by wild distortions often caused by unusual data items.) Analyst's computations and summary from data displayed in Seeking Alpha Portfolios Analyst's computations and summary from data displayed in Seeking Alpha Portfolios Here are the financial statement highlights. Be sure to check the footnote explaining how I tried to make sense of the operating margin! Analyst Compilation based on Data from Seeking Alpha Financial Presentations Here’s a breakdown of COIN’s revenue sources. Analyst Compilation based on Data from Company 10K and 10Q documents This next table, core fundamentals, is interesting. Analyst's computations and summary from data displayed in Seeking Alpha Portfolios These numbers tend to not vary wildly based on short-term fluctuations. That’s why I like these data points so much. They tell a bigger-picture story. For COIN, considering how volatile things can get in the short term, I’m very pleased to see these numbers. They tell me that for all the near-term uncertainties, management has a good firm grip on the corporate reigns. Risk To get detailed here, I’d have to present the sort of verbal monstrosities attorneys force companies to stuff into their SEC documents. Do you really want that? If so, you can download the latest 10K and have at it… and hope somebody wakes you up in time to do what you have to do tomorrow. I prefer to keep it simple. The risk here is that crypto, the blockchain, and COIN’s vision will flop badly. That’s how change-the-world investing is. If the world decides it doesn’t want to change, all who back change will wind up with eggs on their faces and losses in their portfolios. What to do About COIN Stock Here’s my usual valuation table. Analyst's computations and summary from data displayed in Seeking Alpha Portfolios Make sure you read the bigger-than-usual footnote. Clearly, there’s little use for these numbers. Let me put it this way… if the world changes as COIN (and I) expect, the company will likely blow past everybody’s forecasts and the stock will, in retrospect, look to have been bargain-priced. If not, it’ll be tears all around. Here are the price charts for COIN and bitcoin (as a proxy for crypto in general) respectively. StockCharts.com StockCharts.com The messages are clear. Sentiment around crypto, and COIN, has been bad at times in the past year (more so for crypto). But things look pretty good now for both. If you understand market timing and think both are due for correction, act on your views. Give COIN a chance to settle down. But that sort of thing is outside my skill set and inconsistent with my approach. If I see a stock riding what strikes me as a megatrend, I turn bullish. Strictly speaking… When it comes to rating stocks, I think in terms of probable future stock performance relative to the market, rather than literally buying, holding, or selling. And since I’m not rating based on a quant model, I’ll eschew “Strong …” extremes. Absent an exceptional degree of conviction, I think “Buy,” Hold”, or “Sell” are enough. For the reasons discussed above, I see COIN as likely outperforming the broader 3- to 5-year (and then some) market. I translate that to the Seeking Alpha rating taxonomy by rating COIN as a “Buy.”
Blockchain firm Ripple is moving to formally conclude its long-running legal battle with the Securities Exchange Commission (SEC) following a series of recent setbacks . CEO Brad Garlinghouse confirmed that Ripple is dropping its cross-appeal, with the SEC expected to do the same, effectively bringing the case to a close, he said in an X post on June 28. “Ripple is dropping our cross appeal, and the SEC is expected to drop their appeal, as they’ve previously said. We’re closing this chapter once and for all, and focusing on what’s most important – building the Internet of Value. Lock in,” he said. This move comes just days after U.S. District Judge Analisa Torres rejected a joint motion from Ripple and the SEC that sought an indicative ruling to reduce a $125 million civil penalty. The motion also aimed to overturn a prior finding that Ripple’s institutional XRP sales constituted unregistered securities offerings. XRP non-security status unchanged Judge Torres issued a nuanced decision, partially granting the SEC’s request for an injunction and penalty while raising concerns about Ripple’s prior conduct regarding court-imposed limits. Despite the outcome, Ripple’s leadership maintains that the legal status of XRP remains unaffected by the latest ruling. With this, the ball is back in our court. The Court gave us two options: dismiss our appeal challenging the finding on historic institutional sales—or press forward with the appeal. Stay tuned. Either way, XRP’s legal status as not a security remains unchanged. In the meantime,… https://t.co/edHNbMzYbZ — Stuart Alderoty (@s_alderoty) June 26, 2025 The SEC originally sued Ripple in December 2020, alleging it raised $1.3 billion through unregistered XRP sales. Although Ripple was not fully exonerated, Garlinghouse previously described the $125 million penalty, imposed in August 2024, as a strategic win, significantly lower than the SEC’s initial demand of $2 billion. If the SEC proceeds with withdrawing its appeal, as expected, it will mark the end of one of the most significant regulatory enforcement cases in the history of the cryptocurrency industry. XRP price analysis Following this development, XRP has turned bullish, rising 4.5% over the past 24 hours to $2.19 at the time of writing. Over the past week, the token has gained more than 2%. XRP seven-day price chart. Source: Finbold However, technical indicators present a mixed outlook. XRP is trading below its 50-day simple moving average ( SMA ) of $2.29, indicating waning short-term momentum; however, it remains well above its 200-day SMA of $1.82, which signals continued long-term strength. The 14-day Relative Strength Index ( RSI ) stands at 47.53, indicating neutral conditions, neither overbought nor oversold. Featured image via Shutterstock The post Ripple CEO on SEC case: ‘We’re closing this chapter once and for all’ appeared first on Finbold .