Corporate Bitcoin acquisitions have surged in 2025, surpassing ETF purchases and signaling a strategic shift in how companies view digital assets. This trend reflects Bitcoin’s evolving role as a financial
Bitcoin is currently consolidating below the pivotal $110,000 resistance, signaling a potential breakout that could propel prices toward $159,000. Market dynamics reveal a tightening price range between $106,000 and $110,000,
Hyper, currently ranked first on the total profit leaderboard, has strategically closed its long positions in Bitcoin (BTC). The total exposure of these positions amounted to $11.73 million, reflecting a
Peter Thiel has joined a group of prominent tech billionaires backing a new US bank called Erebor, aimed at replacing the role once filled by Silicon Valley Bank, whose collapse in 2023 left a vacuum in financing for start-ups and crypto firms. The proposed bank is the brainchild of Palmer Luckey, founder of defence contractor Anduril, and Joe Lonsdale, a venture capitalist and Palantir co-founder, the Financial Times reported Wednesday. Thiel’s Founders Fund is reportedly among its investors. Erebor Emerges to Fill SVB Void With Focus on Cutting-Edge Tech Businesses Erebor has applied for a national bank charter and plans to serve tech businesses focused on artificial intelligence, crypto, defence and manufacturing, as well as the individuals who work at or invest in them. Tech billionaires back new lender Erebor as Silicon Valley Bank rival https://t.co/xotSEuUfWb — Financial Times (@FT) July 1, 2025 The firm’s formation traces back to the abrupt fall of SVB, which collapsed in March 2023 under the weight of poor asset management and a sudden bank run. Once the go-to institution for early-stage tech firms and venture capitalists, SVB’s demise disrupted financial access for the innovation economy. While its assets were acquired by First Citizens and its bankers moved to new institutions like HSBC, many start-ups still report difficulties securing credit under the more risk-averse models of traditional banks. “The bank will be a national bank providing traditional banking products, as well as virtual currency-related products and services, for businesses and individuals,” Erebor said in its public filing. Erebor to Operate as Digital-Only Bank, With Eyes on Global Clients and Stablecoin Dominance The application also outlines plans to support non-US firms seeking access to the US banking system. In addition, Erebor aims to stand out by offering credit to businesses often overlooked by both traditional and disruptive financial institutions. Peter Thiel and Founders Fund have long been iconic forces in Silicon Valley. Over the years, the fund has built a portfolio of some of the most transformative tech companies. It includes 43 unicorns, 28 IPOs and 116 acquisitions. Notable names include SpaceX, Palantir, Facebook and Airbnb. As a result, their backing gives Erebor strong credibility among tech investors and founders. Although the bank is backed by high-profile figures, Luckey and Lonsdale are not expected to take on operational roles. Instead, Erebor will be led by co-CEOs Jacob Hirshman and Owen Rapaport. Hirshman previously worked at crypto firm Circle. Rapaport is the CEO of Aer Compliance. Additionally, Mike Hagedorn, a veteran of Valley National Bank, will serve as president, according to the FT. Erebor will be headquartered in Columbus, Ohio, with a secondary office in New York, but will operate entirely digitally. All customer interactions and services will be delivered through its app and website. Stablecoins are expected to be a core focus. Erebor described its goal as becoming “the most regulated entity conducting and facilitating stablecoin transactions.” However, key parts of the application, including financials and ownership details, were filed confidentially and remain undisclosed. The post Peter Thiel, Tech Billionaires Back New Bank for Start-ups, Erebor, After SVB Collapse: Report appeared first on Cryptonews .
BitcoinWorld EUR/GBP Forecast: UK Service Sector Strength Signals Crucial Drop In the dynamic world of finance, where every economic ripple can send waves across markets, even cryptocurrency enthusiasts are beginning to pay closer attention to traditional forex movements. Just as Bitcoin’s price is influenced by macro factors and global liquidity, the EUR/GBP forecast is currently under the spotlight, with recent analyses suggesting a significant shift. Are you ready to dive into how the profound strength of the UK’s service sector could be a game-changer for this major currency pair? What’s Driving the EUR/GBP Forecast? Unpacking the UK Service Sector’s Resilience The British economy, often characterized by its robust service sector, is once again demonstrating its formidable resilience. This sector, encompassing everything from financial services to retail and hospitality, represents a dominant portion of the UK’s Gross Domestic Product (GDP). Recent data releases have painted a surprisingly optimistic picture, defying earlier predictions of economic stagnation or recession. This newfound vigor in the UK’s services has become a central theme in discussions surrounding the EUR/GBP forecast . Traditionally, a strong service sector indicates healthy consumer spending, business confidence, and a generally robust economic environment. When services thrive, it often translates into higher employment rates, increased wages, and a positive feedback loop for economic growth. This is precisely what analysts are observing in the UK. Positive Purchasing Managers’ Index (PMI) readings, indicating expansion in the sector, coupled with resilient employment figures, are signaling a domestic economy that is perhaps more robust than its European counterparts. This divergence in economic performance between the UK and the Eurozone is a crucial factor. While the Eurozone grapples with its own set of challenges, including varying inflation rates and slower growth in some member states, the UK appears to be finding its footing. This economic contrast creates a compelling narrative for currency traders, directly influencing the relative strength of the British Pound against the Euro. Understanding this fundamental economic backdrop is the first step in comprehending why the EUR/GBP forecast is leaning towards a depreciation of the Euro against the Pound. The Core of the Analysis: Bank of America BofA’s Conviction on GBP Strength Leading financial institutions play a pivotal role in shaping market expectations, and Bank of America (BofA) has weighed in with a clear stance on the EUR/GBP forecast . Their recent analysis highlights the surprising strength of the UK’s service sector as a primary catalyst for a potential downside move in the currency pair. BofA’s perspective is rooted in a detailed examination of macroeconomic indicators and central bank policy divergences. According to Bank of America BofA , the persistent strength in UK services data suggests that the Bank of England (BoE) may need to maintain a more hawkish stance on monetary policy for longer than previously anticipated. This contrasts with the European Central Bank (ECB), where the path for future rate hikes appears less certain, and some analysts even foresee potential rate cuts earlier than the BoE. This differential in interest rate expectations is a powerful driver for currency valuations. Higher interest rates typically attract foreign capital seeking better returns, thereby increasing demand for the domestic currency. BofA’s conviction is not just based on current data but also on their forward-looking models, which anticipate continued resilience in the UK economy. They argue that the market may still be underestimating the UK’s economic momentum, leading to a potential repricing of the Pound. Their analysis provides a robust framework for understanding the fundamental forces at play. For those closely following forex market analysis , BofA’s insights offer a compelling argument for the Pound’s ascendancy. Here’s a simplified comparison of key factors influencing BofA’s outlook: Factor United Kingdom (UK) Eurozone Service Sector Performance Strong, showing resilience and expansion (e.g., higher PMIs) Mixed, with some regions facing headwinds Inflation Outlook Persistent, potentially requiring sustained restrictive policy Cooling, but still above target; varied regional dynamics Central Bank Stance (BoE vs. ECB) More hawkish bias, likelihood of prolonged higher rates Potentially less hawkish, earlier rate cuts considered Economic Growth Momentum Surprising upside, defying recession fears Slower, facing challenges from energy costs and global demand Interest Rate Differential Expected to widen in favor of GBP Expected to narrow against GBP How Strong UK Economic Data Translates to a Shifting GBP Exchange Rate? The relationship between robust UK economic data and the appreciation of the GBP exchange rate is fundamental in forex markets. When economic indicators, particularly those from the dominant service sector, consistently outperform expectations, it sends a strong signal to global investors. This signal is interpreted as a sign of a healthier, more stable economy, making it a more attractive destination for capital investment. One of the primary mechanisms through which this translates into currency strength is interest rate expectations. Strong economic data, especially persistent inflation, typically prompts a central bank, like the Bank of England, to maintain or even increase interest rates to curb price pressures. Higher interest rates offer a better return on investments denominated in that currency, drawing in foreign capital. This increased demand for the Pound, as investors convert their funds into GBP to take advantage of these higher rates, naturally pushes the GBP exchange rate higher against other currencies, including the Euro. Moreover, a resilient economy suggests lower risk for investors. Businesses operating in a strong economic environment are perceived as more stable, which can attract foreign direct investment (FDI) and portfolio investment. This inflow of capital further bolsters demand for the Pound. Conversely, if the Eurozone’s economic performance lags, or if the ECB signals a less aggressive monetary tightening path, the Euro becomes comparatively less attractive, exacerbating the downward pressure on the EUR/GBP pair. The impact of a stronger GBP exchange rate extends beyond just financial markets. For UK businesses, a stronger Pound makes imports cheaper, potentially easing inflationary pressures on goods and raw materials. However, it can also make UK exports more expensive, posing a challenge for export-oriented industries. For consumers, a stronger Pound means their purchasing power abroad increases, making foreign holidays or imported goods more affordable. This intricate interplay highlights the far-reaching implications of economic strength on currency valuations. Navigating the Forex Market Analysis: Strategic Insights for Traders For traders and investors engaged in forex market analysis , the projected decline in EUR/GBP presents a significant opportunity, but also necessitates careful planning and risk management. The consensus from institutions like Bank of America BofA provides a directional bias, yet market movements are rarely linear. Understanding the nuances of trading this pair is crucial. If the premise of a stronger Pound holds, a common strategy would be to consider “shorting” the EUR/GBP pair. This involves selling Euros and buying Pounds, effectively betting on the Euro to weaken relative to the Pound. However, successful trading requires more than just a directional view. Here are some actionable insights for those considering this trade: Monitor Key Economic Data: Keep a close watch on upcoming UK economic data releases, particularly services PMIs, inflation figures (CPI), and employment reports. Any significant deviation from expectations could either accelerate or reverse the trend. Similarly, Eurozone data, especially inflation and GDP, will be critical. Central Bank Commentary: Pay attention to speeches and policy statements from both the Bank of England and the European Central Bank. Subtle shifts in language can signal changes in monetary policy outlook, directly impacting interest rate differentials. Technical Analysis: While fundamental analysis provides the “why,” technical analysis helps determine the “when” and “where.” Identify key support and resistance levels for EUR/GBP. A break below significant support could confirm the bearish trend, while strong resistance might signal areas for entry or profit-taking. Risk Management is Paramount: No forecast is guaranteed. Always implement strict risk management practices. Use stop-loss orders to limit potential losses if the market moves against your position. Define your risk-to-reward ratio before entering any trade. Global Risk Sentiment: Broader market sentiment can also influence currency pairs. In times of global uncertainty, safe-haven flows might impact even fundamentally strong currencies. Engaging in forex market analysis requires a blend of macroeconomic understanding, technical charting skills, and disciplined risk management. While the current narrative favors GBP strength due to the UK service sector, staying agile and adapting to new information is key to navigating the volatile currency markets. Beyond the Numbers: What Else Could Influence the EUR/GBP Forecast? While the strength of the UK service sector and the Bank of America BofA analysis provide a compelling narrative for the EUR/GBP forecast , the global economic landscape is complex and constantly evolving. Several other factors could significantly influence the trajectory of this currency pair, introducing both opportunities and challenges to the prevailing outlook. Firstly, inflation trends remain a critical determinant. While UK inflation has shown stickiness, a sharper-than-expected deceleration could prompt the Bank of England to ease its hawkish stance, reducing the interest rate differential advantage for the Pound. Conversely, a resurgence of inflation in the Eurozone, or a more hawkish pivot from the ECB, could strengthen the Euro. Keeping an eye on the harmonized consumer price index (HICP) in the Eurozone and the UK’s CPI is essential. Secondly, geopolitical developments always cast a long shadow over financial markets. Events such as political instability within the UK or Eurozone, unexpected election results, or broader international conflicts could trigger risk aversion, leading to unpredictable currency movements. The ongoing situation in Ukraine, for instance, continues to impact energy prices and supply chains, with varied effects on European and UK economies. Thirdly, the performance of other major global currencies, particularly the US Dollar, can have a significant ripple effect. If the US Dollar strengthens dramatically due to aggressive Federal Reserve tightening or a flight to safety, it can indirectly weaken both the Euro and the Pound, though their relative movements against each other might still follow the outlined fundamental drivers. The Pound’s correlation with global risk sentiment, often acting as a “risk-on” currency, means it can be sensitive to broader market mood. Finally, the long-term structural challenges facing both economies, such as productivity growth, demographic shifts, and government debt levels, will play a role in the multi-year outlook for the GBP exchange rate . While short-term forecasts focus on cyclical factors, a holistic forex market analysis must consider these deeper trends. Therefore, while the current outlook for the EUR/GBP forecast seems clear, vigilance and adaptability are paramount for market participants. A Compelling Summary of the EUR/GBP Outlook In conclusion, the prevailing sentiment regarding the EUR/GBP forecast points towards a potential decline, largely driven by the unexpected and sustained strength of the UK’s service sector. This resilience, highlighted by recent positive UK economic data , creates a significant divergence from the Eurozone’s more subdued economic performance. Institutions like Bank of America BofA are keenly observing this trend, anticipating that the Bank of England’s likely prolonged hawkish stance, in response to persistent inflation and robust growth, will continue to bolster the GBP exchange rate . For individuals involved in forex market analysis , this outlook presents a strategic consideration. While the prospect of a weaker Euro against the Pound offers potential trading opportunities, it is crucial to approach the market with discipline. Monitoring incoming economic data, central bank communications, and employing robust risk management techniques will be vital for navigating the inherent volatility of currency markets. The dynamic interplay of economic fundamentals, central bank policies, and global events will continue to shape the EUR/GBP pair, making it a compelling focus for traders and investors alike. The current narrative, however, firmly places the UK’s service sector strength at the forefront of the Pound’s potential ascendancy. To learn more about the latest Forex market trends, explore our article on key developments shaping GBP liquidity. This post EUR/GBP Forecast: UK Service Sector Strength Signals Crucial Drop first appeared on BitcoinWorld and is written by Editorial Team
Senator Cynthia Lummis (R-WY) slammed an amendment proposed by fellow Senator Jeff Merkley (D-OR) on June 30 that would ban elected officials from offering or promoting digital assets. Senator Cynthia Lummis Airs Crypto Amendment Concerns Speaking on Capitol Hill on Monday, Lummis claimed that Merkley’s proposed amendment “goes too far” when it comes to legislating the blockchain sector . Ranking Member @SenJeffMerkley offers an amendment to prohibit ALL federal government officials from promoting or offering cryptocurrency. — Senate Budget Committee (@SenateBudget) June 30, 2025 “I appreciate their concerns about ethics and transparency in government, but this amendment would inflict serious harm on American innovation and competitiveness,” Lummis said. “And for that matter, it applies to the adult children directly or indirectly of elected and non-elected officials.” I appreciate my colleagues' concerns about ethics, but @SenWarren and @SenJeffMerkley ’s amendment would seriously harm American innovation and competitiveness. If we are serious about ethics, let’s ensure digital assets receive the same treatment as other financial assets. pic.twitter.com/t4GsV04f7x — Senator Cynthia Lummis (@SenLummis) June 30, 2025 “If we had passed something like this in the early days of the internet, we would’ve sent a clear message that America’s closed for business when it comes to digital innovation, and that’s what we risk doing now,” she added. Lummis further indicated that Merkley’s amendment would be misguided and called for broader ethics reform across the financial services industry as a whole. “The irony is this amendment would actually harm our government’s ability to understand and regulate digital assets effectively,” Lummis continued. “If we’re serious about ethics and financial products, let’s focus on real solutions and all financial products – not just digital.” President Donald Trump Under Scrutiny For Digital Asset Ties According to a June 30 X post from Merkley, the amendment would have prevented elected officials from “corrupting” their public position via the sale of cryptocurrencies . Republicans BLOCKED my amendment to end crypto corruption. They’re more interested in protecting the Trump family crypto scam than doing right by the American people. pic.twitter.com/ls2FRQBL41 — Senator Jeff Merkley (@SenJeffMerkley) June 30, 2025 “Every now and then a new strategy creates either the appearance of a conflict of interest or a real conflict of interest and that is the case with the elected officials promoting or selling crypto coins in which they have a personal financial stake,” Merkley said. However, Republican senators have since shot down Merkley’s proposed amendment. Current U.S. President Donald Trump has been under scrutiny for his ties to the world of cryptocurrencies, particularly in regard to his namesake memecoin, $TRUMP. However, with the Republican party possessing a fully unified government, it may be tough for Trump’s political opponents to successfully legislate against Trump’s affiliated crypto ventures. The post Senator Cynthia Lummis Slams Jeff Merkley’s Proposed Crypto Amendment appeared first on Cryptonews .
FTX’s creditor repayments are progressing almost three years after its collapse. New details have emerged, which reveal that smaller claims are receiving 120% payouts and larger ones are paid 72.5% so far. Additional distributions are planned through 2027, which aim to complete full recoveries for larger creditors. FTX Payout Progress Sunil Kavuri, the FTX creditor activist, revealed that claims under $50,000 received 120% payouts in February and May 2025, allowing smaller creditors to recover beyond their initial claims. In his latest post on X, Kavuri explained that for claims over $50,000, creditors received a 72.5% payout in May. The remaining 27.5% expected in additional distributions planned for October and December 2026, and into 2027, which will bring total recovery on larger claims to 100% of face value. Kavuri added that post-petition interest returns are estimated to range between 40% and 80%. BitGo and Kraken were the two custodians overseeing the distribution process. These payments are being made under a Chapter 11 plan, which was approved by a bankruptcy judge in Delaware last year. FTX, FTX.US, Alameda Research, and more than 100 affiliated companies sought bankruptcy protection in Delaware on November 11, 2022. After the bankruptcy filing, Sam Bankman-Fried resigned as CEO, and corporate restructuring expert John J. Ray III was appointed to lead the company. The latter had previously handled Enron’s collapse. Bankman-Fried received a 25-year sentence for defrauding customers and investors. Meanwhile, former Alameda Research CEO Caroline Ellison was sentenced to two years in federal prison. Beyond the criminal convictions of its top executives, the collapse also sparked lawsuits against celebrities and influencers who had endorsed the platform. Celebrities Largely Cleared in FTX Lawsuits In May, a US court dismissed the bulk of lawsuits brought against several celebrities and YouTubers who endorsed the crypto exchange before its collapse. Among those who benefited from the dismissal are Tom Brady, Gisele Bündchen, Kevin O’Leary, and Stephen Curry. The same cannot be said for Shaquille O’Neal. The NBA legend agreed to pay $1.8 million to settle a class-action lawsuit from investors of FTX, who alleged he misled them through his appearances in exchange advertisements. This payout is more than the $750,000 O’Neal reportedly received for the commercial. O’Neal claimed that he was only a paid actor, and would avoid admitting wrongdoing, and would also be barred from seeking reimbursement from the exchange’s bankruptcy estate if the court approves the settlement. The post FTX Creditors Receive 120% Payouts on Small Claims, Partial on Large Claims appeared first on CryptoPotato .
The recent sharp decline of the soluble ETF has reignited concerns about the volatility and sustainability of crypto investment products in an unpredictable market. Despite initial enthusiasm surrounding the ETF’s
President Donald Trump announced that the United States will likely strike a trade deal with India, though he also expressed uncertainty about a potential deal with Japan. Trump said the trade deal with India would help US companies compete in South Asia, resulting in much lower tariffs. On Air Force One, the US president anticipated that India would likely open up the markets to US companies. This would delay implementing the 26% he announced on April 2, then suspended until July 9. “Right now, India doesn’t accept anybody in. I think India is going to do that. If they do that, we will have a deal for much fewer tariffs,” he said. Bessent indicates the possibility of the US-India trade talks coming to an end US-India discussions have stalled over differences in import duties for things like auto parts, steel, and farm goods before a deadline when Trump threatens to retaliate with tariffs. In an earlier appearance on Fox News, Treasury Secretary Scott Bessent said the US and India are close to a deal that would reduce tariffs on American imports to the South Asian country and prevent India’s levies from rising sharply next week. In response to a question about progress on trade negotiations, Bessent noted that they are very close with India. In the meantime, Indian officials moved meetings with their US counterparts in Washington last week until Monday to finalize a trade deal between the US President Donald Trump’s administration. They also aimed to tackle ongoing concerns from both sides, two Indian government sources said. The Trump administration will try to secure trade deals with countries, including India, before Japan, in the days before the July 9 deadline, said a White House official familiar with the talks. Notably, India is among over a dozen countries actively discussing with the Trump team to prevent a sharp increase in tariff rates that could come as soon as July 9 after a 90-day tariff pause. India could see its new “reciprocal” tariff rate increase to 27% from 10%. In an event in New York, the Minister of External Affairs of India, Subrahmanyam Jaishankar, mentioned that they were deep into a complex trade negotiation. He expressed optimism about passing the halfway point of the talks. Jaishankar, currently in the US for a meeting with the China-focused Quad group, said he hoped they could reach a successful ending. The minister, however, expressed, “I can’t promise it will happen since there’s another party involved in the talks.” He also mentioned that both sides needed to be willing to compromise and find common ground. Trump expresses a lack of confidence in reaching an agreement with Japan Different countries have different agendas for trade deals, Bessent explained. This included Japan, which the president complained about on two consecutive days . While they were working with Japan, the US president said he was not confident they would agree. Based on his explanation, he had several doubts. He said this while heading back to Washington from a trip to Florida. Trump had said he might levy a 30% or 35% tariff on imports from Japan – far more than the 24% tariff he announced on April 2 and then deferred until July 9. He claimed that Japan was not accepting rice grown in the United States, which he called an “easy” request from Washington, even though Japan sells millions of cars in the US. “I will write them a letter expressing our gratitude. We understand they can’t provide the services we need, so we will ask them to pay 30%, 35%, or whatever percentage we decide,” Trump said. Only Britain has secured a narrow trade agreement with the Trump administration, agreeing to a 10% US tariff on many goods, including autos, in return for access to aircraft engines and British beef. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
Despite Singapore’s stringent regulatory measures targeting unlicensed crypto firms, Binance, the leading global digital asset exchange, intends to maintain a significant remote workforce within the city-state. The Monetary Authority of