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Aplus cardholders in Japan just got a new way to use their points: by swapping them for crypto. Starting this week, Aplus customers can now convert their reward points into XRP, Bitcoin, or Ether, according to information from the companyâs updated loyalty program. That makes Aplus the first major rewards system in the country to offer direct crypto redemptions instead of just the usual cash, merchandise, or airline miles. The new option lets users trade in 2,100 points for over 2,000 yen worth of crypto, roughly $13â$15 USD, depending on the exchange rate. Basically, the program connects daily spending directly to crypto ownership, without requiring people to invest out of pocket. Users donât need any technical background either, just points and an account with SBI VC Trade or access to the Aplus portal. Itâs a small amount, but it turns everyday transactions into a route to XRP, BTC, or ETH, with zero cash upfront. Aplus users earn points from spending and get bonuses for higher usage Every time someone spends 200 yen using an Aplus credit card, they earn one point. Anyone who spends 50,000 yen or more in a single month gets a bonus rate, an extra 0.5% in points. Those points stay active for two years after theyâre earned, meaning customers donât have to rush to redeem them. The crypto integration doesnât change any of that. It adds one more choice to what people can do with their points. While it might not sound like much, this opens the door for users whoâve never touched crypto before. It doesnât require them to study blockchain, open a special wallet, or buy crypto directly. They just spend as usual, earn points, and redeem when theyâre ready. People can redeem points for XRP, Bitcoin, or Ether by logging in to either the Aplus portal or their account on SBI VC Trade. And even though the crypto is earned through points instead of cash, that doesnât mean thereâs no oversight, as users are still bound by the countryâs crypto rules, including tax liabilities. So, letâs say someone redeems their points for Bitcoin, and it goes up in value before they sell it, they will still owe taxes because thatâs just how it works under Japanese law . That means users must either keep the assets in SBI VC Trade or manually transfer them to a private wallet. Itâs completely on them to handle custody and ensure their crypto is safe. But itâs still uncertain whether people can redeem crypto every month or if there are limits, which will affect how much people use the system over time. Thereâs also the issue of size. Getting 2,000 yen worth of crypto might not move the needle for big investors, who say the amount is too small to attract serious users. But for people who are new to crypto or just curious, this setup could be the easiest way to start holding XRP, Bitcoin, or Ether without a lot of headaches. Makoto Kobayashi, a senior manager at SBI VC Trade, explained that the goal is to offer a safe and simple entry point for people whoâve never owned crypto before. âUsing reward points makes that possible, without asking them to risk cash or deal with exchanges.â Still, clear communication is going to be key if this programâs going to grow. Aplus hasnât released full guidelines yet, and thatâs causing questions to pile up. Users want to know if they can redeem every month, if thereâs a minimum balance, or if anything changes based on which crypto they pick. Until those answers come out, some customers might hold off. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites
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According to the International Monetary Fund (IMF)'s first program review report published on July 15, the government of El Salvador has not made any new Bitcoin purchases since February 2025. This information was revealed in an official letter signed by the country's Central Bank President, Douglas Pablo RodrĂguez Fuentes, and Finance Minister, Jerson Rogelio Posada Molina, and submitted to the IMF. The letter states that El Salvador's public sector Bitcoin holdings âhave not changed.â Attached documents note that the country's hot and cold wallet addresses have been handed over to the IMF for auditing and monitoring purposes. This statement clearly contradicts previous statements by President Nayib Bukele and El Salvador's Bitcoin Office, which claimed that 1 BTC has been purchased daily since November 2022. The Bukele administration claims that the country's BTC reserves have reached approximately 6,242 BTC, worth around $737 million. Blockchain analysis firm Arkham also provided on-chain data confirming daily transfers of 1 BTC from wallets labeled Binance and Bitfinex. However, the IMF report suggests that these transfers are not new purchases, but rather a consolidation of existing Bitcoin holdings in government wallets. A footnote in the report states, âIncreases in the Strategic Bitcoin Reserve Fund are due to the consolidation of Bitcoins held in different government wallets.â Related News: What Lies Ahead for Solana (SOL) Prices? Analysis Company Releases Technical Analysis President Bukele has repeatedly stated that they will continue to buy Bitcoin, despite reaching a $1.4 billion loan agreement with the IMF. In a post on social media platform X, he said, âEven when the world ostracized us and many abandoned us, these purchases didn't stop; they won't stop now, and they won't stop in the future.â Stacy Herbert, director of the Bitcoin Office, argued in a March post on X that El Salvador continued to buy Bitcoin despite the IMF agreement. Herbert said, âSome âBitcoinâ supporters are relying on the IMFâs word rather than El Salvadorâs purchases recorded on the Bitcoin blockchain.â *This is not investment advice. Continue Reading: Is El Salvador Lying? IMF Claims the Country Is Not Buying Bitcoin Every Day
Summary Block's bitcoin trading generates high revenue but negligible profit, limiting its impact on overall business performance and valuation. The company has limited innovation, with Cash App and Square no longer driving significant growth; recent product tweaks haven't moved the needle. Block's surprise S&P 500 inclusion caused a stock price jump, but fundamentals remain unchanged and growth catalysts are lacking. The stock will likely trade at ~21x 2026 EPS target after the S&P 500 bump, reducing any interest in buying the stock. Block, Inc. ( XYZ ) was one of the first public fintechs to incorporate bitcoin trading into the business, yet years later the business doesn't generate any material profits off cryptocurrency as the U.S. government starts approving cryptocurrency legislation. The stock is jumping on the surprise entry into S&P 500, leading to limited value in owning Block. My investment thesis is now Neutral on the stock, especially above $80, where Block likely trades when the market opens on Monday. Source: Finviz Limited Crypto Catalysts Years ago, Block would trade wildly based on revenues from bitcoin trading. Just in Q1'25, the fintech generated $2.30 billion in bitcoin trading revenues, but the company incurred a nearly equal $2.24 billion in transaction costs. Source: Block Q1'25 shareholder letter Block has offered bitcoin trading since 2018 , but the company has never moved beyond simple trading of the major crypto coin. Coinbase ( COIN ) has now developed a complete platform with trading in multiple coins and offering stablecoins to reach a market cap of over $100 billion, more than double Block. President Trump just approved the Genius Act to regulate stablecoins. The market is dominated by Coinbase and a few other players, while Block is nowhere to be found. The irony is that co-founder Jack Dorsey was one of the original proponents of bitcoin. Block owns over $1 billion worth of bitcoin based on owning 8,584 coins at the current price of $118K with a cost basis of only $261 million. Unfortunately, Block has remained stuck in focusing on the once innovative Cash App and moving into BNPL services. Neither, really offering the growth dynamics anymore offered by crypto. The company is starting to rollout bitcoin payments on Square in the 2H, with most sellers eligible in 2026. In addition, the company is developing bitcoin mining chips and systems under Proto with a business launch in the 2H, but the fintech isn't moving far beyond the natural crypto trading opportunity. For Q1, Block gross profits only grew 9% to $2.29 billion. Again, the fintech has substantial transaction costs so that gross profits work out to more of a net revenue figure. Either way, the stock can't really be valued based on total revenues due to the excessive bitcoin revenues without any profit benefit from the pass-through costs. The problem facing Block is that both Square and Cash App were innovative fintech products in the beginning, but the company no longer sees innovation outside of product tweaks. The Q1'25 shareholder letter focused on product innovation with up to 100 product enhancements to Square, but the new features to the technology platform aren't moving the growth needle. The biggest product appears to be Cash App Afterpay, a product designed for small amounts of borrowing within Cash App. S&P 500 Surprise After the close on Friday, Block was announced as the new entry into the S&P 500 before the opening of trading on July 23. The stock will enter the key index with trillions attached to the product after Hess (HES) was purchased by Chevron ( CVX ) and removed from the index. The stock soared 8.5% in after-market trading due to the surprise move. Block only had a market cap of $45 billion, with Robinhood ( HOOD ), the far more discussed fintech, set to enter the S&P 500 with the market cap soaring to $100 billion. Barron's even speculated on the next 4 stocks to be added to the index, and Block wasn't included. Source: Seeking Alpha Block traded at ~19x EPS targets for 2026. The stock currently trades at about 4.5x gross profit targets in the range of $10 billion for the year. The S&P 500 entry is likely to boost the stock in the 10% range, moving the forward P/E multiple to 21x. For a company with 9% gross profit growth targets, the stock trades at about fair value. Takeaway The key investor takeaway is that Block doesn't have the growth catalysts to chase the stock after this surprise S&P 500 entry bump when trading opens up Monday. The company has missed the crypto craze, and the current projects don't appear to move the needle. Investors can hold the stock next week, but one shouldn't chase Block on the entry into the S&P 500.
Emerging-market governments and companies are rushing into the euro bond market faster than they have in over a decade, according to Bloomberg. With the dollar down nearly 8% this year and Trumpâs return to the White House fueling uncertainty around tariffs and US economic policy, borrowers from Eastern Europe to Asia are looking for other options. And the euro is winning that attention. This year alone, developing economies have sold âŹ89 billion worth of euro-denominated debt by July 18 â the highest amount for that time frame since at least 2014. That includes âŹ21 billion from Poland and Romania alone. Government issuance has already blown past 2024âs full-year total. Poland even rolled out its first green bonds since 2017, and Bulgaria secured âŹ3.2 billion in sales after a credit rating upgrade tied to its entry into the eurozone next year. These countries arenât just experimenting. Theyâre using momentum to raise serious money fast. Romania, Poland, Chile, and more ditch dollars to raise euros Romania sold euro bonds for the third time this year after markets responded positively to Mayâs election of a centrist candidate. In Asia, South Korea and China both tapped the euro bond market. Even Chile jumped in. The crowd is growing, and thereâs one thing they all have in common: none of them want to stay too exposed to the USD. Matthew Graves, a portfolio manager at PPM America, put it like this: âWe have been more active in looking for opportunities outside of US dollars credits.â He prefers Ivory Coastâs euro bonds over its dollar debt, pointing to the stronger spreads. âDirectionally, we like owning euros versus dollars right now.â That sentiment is being echoed across Wall Street. Strategists at Goldman Sachs ran comparisons between euro and dollar bonds issued by the same governments on the same day. The result? Euro bonds outperformed dollar ones more frequently one week after issuance. âThe increase in euro-denominated bond issuance has generally been well absorbed by the market,â Kamakshya Trivedi and his team wrote earlier this month. They expect this to continue as the US economy slows and the dollar keeps losing ground. Big players reevaluate dollar strategy as euro gains appeal As the dollar weakens, the appetite for diversification is growing. Bank of America is betting on Romaniaâs 2044 euro bonds while holding a bearish view on its dollar notes with the same maturity. JPMorgan strategists, led by Stefan Weiler, say Poland, Hungary, Mexico, and Morocco offer some of the most attractive euro-denominated opportunities for investors moving away from dollar debt. Weiler, who heads debt capital markets for Central Europe, the Middle East and Africa at JPMorgan in London, made it clear: âIf you have an ambition to issue in euros, this is the time to do it. Borrowers have been noticeably more active in diversifying and exploring also some niche markets.â David Robbins, co-head of TCW Emerging Markets Group, says investors still see value in emerging markets. âThe relative yield advantage youâre getting in EM to what youâre getting in other markets continues to look attractive,â Robbins said. That interest is propping up debt sales across both euro and dollar markets. Even with the growth in euro issuance, dollar bonds are still moving fast. 2025 is already seeing the most dollar-denominated emerging-market debt sold since 2021. But the euro is making gains in all the right places. Brazil , which has already sold over $5 billion in dollar bonds this year, is preparing to issue its first euro-denominated bond since 2014. Colombia plans to follow, preparing its first euro bond sale since 2016. Egypt is also considering hard-currency issuance that includes euro debt in the next year. And in the Balkans, Bosnia-Herzegovina is about to join the international debt markets for the first time, with a five-year unsecured euro bond on deck. This isnât just a passing trend. With Trumpâs tariffs rattling global trade, the Federal Reserve caught in crossfire, and growth in the US not looking so âexceptionalâ anymore, investors are reassessing what they want in their portfolios. Borrowers are responding, and the euro is getting louder. The dollar might not be gone, but itâs definitely not alone anymore. KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage
XRP is experiencing unprecedented buying pressure, with the token now targeting a new all-time high of $4 amid a resurgent cryptocurrency bull market. In the past week, XRPâs market capitalization has surged by $40.54 billion, rising from $165.82 billion to $206.36 billion. This massive inflow drove the tokenâs price to $3.49, representing a 24.65% increase on the weekly timeframe. XRP one-week market cap chart. Source: CoinMarketCap XRP price prediction With XRP seemingly gearing up for a breakout, Finbold consulted OpenAIâs ChatGPT for insight into where the asset could be headed by year-end. According to the model, if current buying momentum holds, XRP could trade between $5 and $7 by December. ChatGPT noted that the surge will likely be fueled by sustained investor demand, which is reinforcing market momentum. At the same time, the anticipated decline in Bitcoin ( BTC ) dominance is likely to redirect capital into altcoins, signaling the start of an altseason, during which XRP, as a top-tier token, is poised to gain significantly. Adding to market optimism is growing regulatory clarity, especially in the U.S. After years of legal uncertainty, more explicit rules are helping to reduce risk for both institutional and retail investors. Notably, this comes as the U.S enacted the Genesis Act, which provides a legal framework for stablecoin, amid the final push towards ending the legal battle between Ripple and the Securities and Exchange Commission (SEC). XRP price prediction. Source: ChatGPT Why XRP is breaking out Itâs worth noting that, beyond tracking the broader crypto market , XRPâs rally is being driven by several key developments. Notably, momentum picked up following the approval of the ProShares XRP Futures ETF on July 19, sparking renewed interest from institutions. The move mirrors Bitcoinâs ETF-fueled surge earlier this year. Meanwhile, 11 spot XRP ETF applications are awaiting review, with traders estimating an 88% chance of approval by year-end. Finally, on-chain activity also spiked, with 1.7 billion XRP moved on July 18, marking the highest daily volume in a year and indicating potential whale accumulation, a traditionally bullish signal. Featured image via Shutterstock The post XRP price prediction after monster $40 billion inflow in a week appeared first on Finbold .
Bitcoin (BTC) has had a quiet weekend, with the price tethered around $118,000. The flagship cryptocurrency registered a sharp drop on Friday, falling to $117,877, and registered another marginal decline on Saturday. The price has stayed above $118,000, indicating strong support at this level. The current session sees BTC marginally up, trading around $118,035. Macro Drivers Could Dampen Bitcoin Halving Cycle Tim Draper, investor and founding partner of Draper Associates, believes macroeconomic drivers such as the decline of the US Dollar could dampen the impact of Bitcoin halving cycles. Halving cycles have been a major source of the flagship cryptocurrencyâs volatility and bull cycles. Draper stated, âBetween 10-20 years from now, the dollar will be extinct. The world is changing, and we are watching it happen. We are right in the center of an anthropological leap forward.â Draper believes investors are increasingly treating Bitcoin as an escape valve against fiat currency inflation, geopolitical tensions, poor governance, and a lack of trust in banking institutions. According to Draper, these factors are driving the global adoption of the asset. âThe halvings may have less of an effect if Bitcoin runs against the dollar the way it has, because it will probably go for a prolonged period. It will still be affected in some way by that four-year cycle, but I think the effect will dampen. I think there will be a macro driver that pushes Bitcoin along, and I think the macro driver will be a bigger deal than the halvings.â Robert Kiyosaki Discusses Next Bitcoin Purchase Renowned author Robert Kiyosaki has revealed the price point at which he plans to purchase more Bitcoin and the level at which he plans to stop. Kiyosakiâs âRich Dad Poor Dadâ has become a top financial guide, having been translated into dozens of languages and helping millions. Kiyosaki stated, âBitcoin is over $117K a coin. Going to buy one more bitcoin asap. Itâs never been easier to become rich⌠even a millionaire. Please study, learn, and find out if Bitcoin is your path to becoming a millionaire.â BTC surged past $120,000 at the beginning of the week, on its way to a new all-time high of $123,091. However, Kiyosaki stated that he would pause further purchases. He explained the decision behind it, stating, âBitcoin over $120K ⌠I am buying one more coin⌠I will not buy any more⌠until I know where the economy is going. As tempting as bitcoin going to $200K to $1 million is⌠I do not want to be a hog and get slaughtered.â Bitcoin (BTC) Price Analysis Bitcoin (BTC) has entered a consolidation phase after surging to a new all-time high on Monday. The flagship cryptocurrency crossed $120,000 on Monday, reaching $123,091 before declining. Despite the pause in upward momentum, analysts point out that bulls remain in control, with several positive factors acting as bullish catalysts. Global crypto adoption is increasing, while the passage of key crypto bills, including the GENIUS ACT and the CLARITY Act, offers regulatory clarity to the crypto space. Crypto analyst Darkfrost stated that on-chain analysts reveal that Bitcoinâs bullish trend remains intact. According to the analyst, the current market environment offers a constructive setup, thanks to institutional interest and regulatory clarity. Bitcoinâs growth rate indicator, measured by comparing its Market Cap to its Realized Cap, continues to indicate a bullish setup. The analyst noted that Bitcoin and the crypto market are transitioning from uncertainty to clarity, thanks to a pro-crypto administration. BTC reached an intraday high of $116,393 on Thursday before settling at $116,160, ultimately registering an increase of 3.51%. Buyers retained control on Friday as the price rose 1.51% to cross $116,000 and settle at $116,885. Despite the positive sentiment, BTC lost momentum on Saturday, registering a marginal decline and settling at $116,616. It recovered on Sunday, rising nearly 2% to cross $118,000 and settle at $118,624. BTC raced to a new all-time high on Monday, surging past $120,000 to $123,091. However, it lost momentum after reaching this level and settled at $119,714. Source: TradingView Selling pressure returned on Tuesday as traders locked in their gains. As a result, BTC plunged to an intraday low of $115,701 before settling at $117,682, ultimately dropping 1.70%. BTC recovered on Wednesday, rising nearly 1% to $118,641. The price faced volatility on Thursday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as BTC rose 0.39% and settled at $119,901. BTC raced to an intraday high of $120,800 on Friday. However, it could not stay at this level and settled at $117,877, ultimately dropping 1.03%. Price action has been muted over the weekend, with BTC registering a marginal decline on Saturday and a marginal increase during the ongoing session. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Charles Hoskinson, co-founder of blockchain engineering firm Input Output Global (IOG) and the Cardano platform, has pledged to make IOGâs ADA holdings public. He expects the disclosure to be ready by mid-August. In a post shared on X , Hoskinson said he just received the initial copy of the audit report. After receiving the copy, he requested additional details and context in a few spots on the report. The Cardano blockchain co-founder speculated that the final copy would be released next month, assuming the work rate continues at the current pace without any sudden delays. https://twitter.com/IOHK_Charles/status/1946738026488443002 Hoskinson pledges to prove allegations against IOG as untrue Previously, IOG was accused of inappropriately acquiring a significant amount of Cardano. The company acquired around $600 million in Cardano based on the allegations. Hoskinson took the step to address these accusations. He promised that a detailed audit report of his firmâs assets would become available next month and said the accusations were untrue. The accusations, he said, reflected a lack of trust within the community, and he was heartbroken. Hoskinson also addressed the claims in an X post, stating that IOG did not allocate 350 million unclaimed ADA to itselfâa claim he firmly rejected. He explained that most of the ADA had already been claimed, and the remaining portion, which had gone unclaimed after seven years, was transferred to Intersect. Hoskinson stressed that no matter how often falsehoods are repeated, they cannot change the truth. An example of community members who raised the allegation includes Masato Alexander , a non-fungible token artist. According to Alexanderâs allegations, Hoskinson was the mastermind of the Cardano possession. He said earlier that the IOG co-founder utilized a âgenesis keyâ to manipulate the Cardano ledger in 2021 during the Allegra hard fork, consequently generating about $619 million worth of Cardano. Yet in the face of these allegations, Hoskinson never wavered from his claim to bring out a detailed version of the audit soon after its release. He committed to reading it from start to finish on a livestream directly after it is published and said that, in addition to a credible website hosting the report, it would be preserved in other historical forms For those spreading the allegations, Hoskinson vows to file a lawsuit against them. To demonstrate the seriousness of the situation, he said that next week he would meet up with professionals from a defamation law firm to discuss their alternatives and plans. Hoskinson stated that not receiving the benefit of the doubt shows he does not have the relationship he believed he had with certain individuals. Hoskinson intends a life pivot once all the allegations are settled In the scenario the IOG presents, a secondary market transaction called Move Instantaneous Rewards was unveiled on October 24, 2021. It accounted for the transfer of approximately 318 million Cardano. At that time, funds moved from reserve pools into treasury accounts. Following the transaction, Hoskinson stated that the acquisition of Cardano had been available for more than three years. According to his explanation, the initial buyers acquired most of the 350 million Cardano over seven years. Hoskinson plans to take a new turn when all these allegations are settled . He will probably hand over his X account to a media team and switch how he does his AMAs and X spaces. Notably, Hoskinson was one of Ethereumâs co-founders and is currently among the prominent figures in the blockchain development ecosystem. KEY Difference Wire helps crypto brands break through and dominate headlines fast