Bitcoin juggernaut Strategy is facing at least five copycat lawsuits—but law professors told Decrypt that the number of suits isn't unusual.
We’re thrilled to announce that Dog (Bitcoin) — the first Bitcoin Runes asset we’ve listed — is now available for trading on Kraken! Funding and trading DOG trading is live as of today, June 27, 2025. To add an asset to your Kraken account, navigate to Funding, select the asset you’re after, and hit ‘Deposit’. Make sure to deposit your tokens into networks supported by Kraken. Deposits made using other networks will be lost. Trade on Kraken Here’s some more information about this asset: DOG (Bitcoin) DOG is a meme token built on the Bitcoin Runes protocol, designed for fast, lightweight fungible assets. As one of the most popular Runes tokens, DOG blends Bitcoin-native infrastructure with viral meme culture. It represents a new wave of onchain assets powered directly by Bitcoin, without smart contracts. Please note: Trading via Kraken App and Instant Buy will be available once the liquidity conditions are met (when a sufficient number of buyers and sellers have entered the market for their orders to be efficiently matched). Geographic restrictions may apply Get Started with Kraken Will Kraken make more assets available? Yes! But our policy is to never reveal any details until shortly before launch – including which assets we are considering. All of Kraken’s available tokens can be found here , and all future tokens will be announced on our Listings Roadmap and social media profiles . Our client engagement specialists cannot answer any questions about which assets we may be making available in the future. The post Runes now available: DOG is live for trading! appeared first on Kraken Blog .
Cat-themed memecoins continue to make noise across the crypto space, fusing charm, pop culture, and on-chain innovation. Animal memecoins are a big deal and have gathered much attention in the cryptocurrency market. Here we are focusing on Cat themed memecoins under $3M market cap with huge potential for upside movements. These feline-inspired tokens bring unique vibes to the meme sector. Guess what!, they’re all sitting below $3 million in market cap, offering investors potential ground-floor opportunities. (N/B: All data and information gotten from CoinMarketCap) This list is sorted from the lowest to the highest market cap. BobaCat (BOBACAT) Unit Price: $0.00003038 Market Cap: $798.55K Volume (24H): $3.08M Here ok our list, first is BobaCat — a playful token with a spicy twist. BobaCat is built on the ever vibrant Solana blockchain. This has of course, made BobaCat a rising meme contender backed by a strong community and high daily volume. Despite its small cap, BobaCat has already reached a 7-figure trading volume on multiple days, signaling active interest and speculation. Price Data To Monitor: ATH: $0.0001599 (May 28, 2024) ATL: $0.000005164 (Apr 15, 2024) BobaCat is available for trading on Solana-based DEXes like Raydium and Jupiter, making it easy for degen traders to jump in. Its quick bounce from ATL shows strong community-driven recoveries. Keep an eye on volume and whale accumulation as well before making any decisions. Available For Trading On: Raydium, Jupiter, MEXC, Birdeye Duko (DUKO) Unit Price: $0.0003868 Market Cap: $1.15M Volume (24H): $360.6K DUKO is one of the most hyped Solana-based catcoins, featuring a unique anime-inspired mascot. It rose quickly in Q2 2025 thanks to a notable viral meme run and several strong social mentions. It’s safe to mention that DUKO also boasts of a massive community following. DUKO represents more than memes — it taps into the youth internet culture. Performance Recap: ATH: $0.001617 (Apr 15, 2024) ATL: $0.000201 (Apr 13, 2024) Though down significantly from its peak, DUKO maintains active trading interest. With consistent mentions on Crypto Twitter and Solana meme charts, it’s a sleeper to watch for another breakout if bullish conditions return. Particularly, as the general market is looking for a new pump upcoming. Trading Available On: Raydium, Jupiter, MEXC, CoinEx CatwifhatSolana (CWSOL) Unit Price: $0.001548 Market Cap: $1.55M Volume (24H): $171.3K CatwifhatSolana (CWSOL) is exactly what it sounds like — a derivative meme on top of another meme, combining cat energy with Solana’s iconic “Wif Hat” culture. The token embraces the fun side of Solana trading, often appearing alongside trend-based NFT drops. Price Metrics To Watch: ATH: $0.003384 (Apr 25, 2024) ATL: $0.0004587 (Apr 18, 2024) Traded mostly on Raydium, CWSOL appeals to those who enjoy meme layering. Its modest FDV and high memetic potential give it a long-shot upside, especially if “wif hat” culture sees another seasonal revival. Most memecoins are stalling currently due to the volatile nature of the market but this is a worthy consideration once the market returns to high momentum. Trading Available On: Raydium, Jupiter, Bitget, Gate.io Real Smurf Cat (ETH) ($SCAT) Unit Price: $0.0001641 Market Cap: $2.27M Volume (24H): $3.08M Real Smurf Cat is a blue-cat themed meme built on Ethereum. Of course, it boasts of a strong meme branding and viral social energy. It references “Smurf Cat”, which is a weird, beloved internet meme character that blew up in late 2024. The token embraces simplicity, virality, and massive engagement, as it enjoys the attention it’s getting from the crypto twitter (X) community. Price Watch Points: ATH: $0.0006123 (Apr 18, 2024) ATL: $0.00003714 (Apr 13, 2024) $SCAT has been one of the most actively traded microcap catcoins, frequently showing up in DEX screener heatmaps. As meme narratives rotate, Smurf Cat might see another moon attempt. This is of course, especially on Ethereum where virality moves fast. Available On These Exchangs: Uniswap (ETH), MEXC, Gate.io, CoinEx Donotfomoew ($MOEW) Unit Price: $0.00002792 Market Cap: $2.76M Volume (24H): $1.71M The warning is in the name: Don’t FOMO. But most do, as expected. $MOEW is a Solana-based meme featuring a minimalist aesthetic and community-first mechanics. It leans hard into meme simplicity, which with a tokenomics model built to support organic growth through narrative. Key Price Moments: ATH: $0.0002618 (Apr 4, 2024) ATL: $0.000009389 (Apr 2, 2024) Traded across Solana’s top DEXes, $MOEW remains one of the strongest low-cap cats memecoins with multiple rallies since launch. While it warns against FOMO, its structure invites it. This definitely leads to making it one of the most watched tokens in the cat memecoin sector. Available To Trade On: Raydium, Bitget, MEXC Final Thoughts These five cat-themed tokens bring community, meme power, and speculative upside to the crypto market under $3M. Whether it’s Ethereum’s viral SCAT or Solana’s meme-rich CWSOL and DUKO, these feline memecoins are purring with potential this June. All data and information are gotten from CoinMarketCap. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
Metaverse ” is no longer a fancy term now as far as the cryptocurrency market is concerned. The exponential increase in the global metaverse market says it all. There are numerous metaverse projects but only a few have actually potential for upside returns on investment. The main goal of the Metaverse is to provide people with an augmented reality experience that will in many ways looks to surpass physical reality in terms of experiences and opportunities This list is sorted in no particular order, all data and information gotten from CoinMarketCap Decentrawood (DEOD) Unit Price: $0.0035 Market Cap: $1.53M Volume (24H): $203.2k The Decentrawood project is an ambitious initiative to create a metaverse platform that leverages blockchain, virtual reality, and artificial intelligence technologies to simulate the evolution of human civilization. The platform allows users to create, own, and monetize their own user-generated content, including buildings, objects, animations, and even games. One of the unique aspects of Decentrawood is its focus on interoperability, which means that users can share their creations with others on other platforms. This allows for a more decentralized and democratic metaverse, where anyone can create a space and be part of a global community. Price Data: All-time high was recorded on Aug 11, 2024 (7 months ago) at a price unit of $0.02422 All-time low was recorded on March 9, 2024 with a price unit of $0.0005471 Exchanges: MEXC, Bitmart, Quickswap. HumainWeb3 $DOME Unit Price: $0.0002093 Market Cap: $3.97 Volume (24H): $575.41k Humain Web3 is the blockchain element of Hum(AI)n Assets, a creative content platform that blends web2 scalability, web3 flexibility with the speed of generative AI and the talent of human creatives. Transforming how creative content media is commissioned, created and shipped. $DOME is the native utility token of the Hum(AI)n Assets Web3 ecosystem – designed to enhance and accelerate the way creative work is commissioned, created and delivered. It will support both brands and creators – forming a seamless payment and engagement layer across the platform. Price Data: All-time high was recorded on Feb 17, 2022 (3 years ago) at a price unit of $0.09714 All-time low was recorded on Jun 09, 2025 (18 days ago) with a price unit of $0.0001079 Exchanges: Bybit, Gate io, Bitmart, WEEX, Coinex, pancakeswap. QORPO WORLD $QORPO Unit Price: $0.01253 Market Cap: $4.92m Volume (24H): $732.34k QORPO was minted as an ERC-20 token on the Ethereum Mainnet. During the Token Generation Event (TGE), a total supply of 750 million QORPO tokens was generated, and there are no plans to create or mint any additional tradable tokens in the future. The total token supply will only decrease over time via various burning and deflationary mechanisms tied to the ecosystem & token economy. QORPO Token is the centre of the complete gaming ecosystem of several top-tier games, NFT Marketplace, reward protocol, digital gaming identity and other platform features. Hodlers of the token will have access to a range of exclusive benefits and incentives within the expansive framework. Price Data: All-time high was recorded on Mar 17, 2024 (1 year ago) at a price unit of $1.22 All-time low was recorded on Jun 22, 2025 (5 days ago) with a price unit of $0.008035 Exchanges: Bybit, Mexc, Gateio, Kucoin. Creo Engine $CREO Unit Price: $0.007639 Market Cap: $3.05m Volume (24H): $1.17M Creo Engine’s product revolves around developing in-house gaming experiences and creating a revolutionary gaming platform. With a focus on innovation, quality, and Interoperability, Creo Engine is set to redefine the gaming industry and provide players with an unparalleled gaming experience. The development of in-house games by Creo Engine’s studio, Nomina Games, is a testament to the platform’s commitment to quality and innovation. Nomina Games’ upcoming games are designed to showcase the power and potential of Creo Engine’s ecosystem, providing players with an immersive and rewarding gaming experience. CreoPlay, the platform developed by Creo Engine, provides players with a comprehensive and innovative gaming experience. The platform is designed to be safe, secure, and interoperable, enabling players to seamlessly move their assets and items between games. Price Data: All-time high was recorded on Mar 18, 2024 (a year ago) at a price unit of $0.2026 All-time low was recorded on Nov 02, 2023 (2 years ago) with a price unit of $0.0007696 Exchange: Bitget, Mexc, Gate io, bingx, Bitmart. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
BitcoinWorld Crypto Losses Skyrocket: $2.1 Billion Vanishes in Alarming H1 2025 Exploits The cryptocurrency world has once again been rocked by a staggering figure: over $2.1 billion in crypto was lost to attacks in the first half of 2025 alone . This alarming revelation, highlighted in a recent TRM Labs report cited by Cointelegraph, paints a stark picture of the ongoing challenges in securing digital assets. For anyone invested in or simply observing the crypto space, this news serves as a potent reminder of the persistent threats lurking within the decentralized frontier. But what exactly led to such immense crypto losses , and what can be done to safeguard against future incidents? The Alarming Reality of Crypto Losses in H1 2025 The numbers speak for themselves. According to TRM Labs, the sheer volume of funds siphoned off in the first six months of 2025 has nearly matched the entire sum recorded for the full year of 2024. This rapid escalation underscores a worrying trend: while the crypto market continues to evolve, so do the sophistication and frequency of malicious attacks. Out of 75 reported incidents, a significant majority of the stolen funds – over 80% – were linked to specific, high-impact vulnerabilities. It’s not just the total amount that’s concerning; it’s the nature of the attacks. The report highlights that the most damaging incidents were, on average, ten times more destructive than other types of exploits. This disproportionate impact points to critical weaknesses that attackers are increasingly exploiting with devastating efficiency. Understanding these primary vectors of attack is crucial for anyone looking to navigate the crypto landscape safely. Decoding the Threats: Private Key Exploits and Front-End Vulnerabilities So, where are these billions disappearing to? TRM Labs points directly to two primary culprits: private key exploits and front-end infrastructure attacks. These aren’t just technical terms; they represent fundamental weaknesses that, when compromised, grant attackers direct access to funds or control over user interactions. Private Key Exploits: Imagine your private key as the ultimate password to your crypto wallet. If this key falls into the wrong hands, whether through phishing, malware, or a compromised system, your funds are as good as gone. These exploits are often direct and leave little room for recovery, as they bypass most security layers designed to protect transactions. They are the digital equivalent of someone stealing the keys to your vault. Front-End Infrastructure Attacks: These are more subtle but equally dangerous. The ‘front-end’ is what you see and interact with – the website or application interface. If this infrastructure is compromised, attackers can trick users into approving malicious transactions, redirect funds, or even steal login credentials. This could involve manipulating a legitimate website to display a fake transaction request or redirecting users to a phishing site that looks identical to the real one. The reason these attack types account for such a large percentage of crypto losses is their direct impact on user funds and the core security mechanisms of digital assets. They bypass smart contract audits in many cases, focusing instead on the weakest link: the human element or the interface layer. Bolstering Blockchain Security: A Collective Responsibility Given the escalating threat, what steps can be taken to enhance blockchain security ? It’s a multi-faceted challenge that requires vigilance from both projects and individual users. The good news is that awareness and proactive measures can significantly mitigate risks. For Projects and Protocols: Rigorous Audits: Regular, independent security audits of smart contracts and front-end infrastructure are non-negotiable. These audits should be conducted by reputable firms and ideally involve multiple rounds. Bug Bounty Programs: Incentivizing white-hat hackers to find and report vulnerabilities before malicious actors do can be incredibly effective. Multi-Signature Wallets: For treasury funds or critical operations, implementing multi-signature (multi-sig) wallets adds an extra layer of security, requiring multiple approvals for transactions. Decentralized Infrastructure: Reducing reliance on centralized front-ends can decrease the attack surface for infrastructure exploits. Incident Response Plans: Having a clear, well-rehearsed plan for responding to security breaches can minimize damage and facilitate quicker recovery. For Individual Users: Hardware Wallets: For significant holdings, hardware wallets (like Ledger or Trezor) are essential. They keep your private keys offline, making them immune to most software-based attacks. Strong, Unique Passwords & 2FA: Use strong, unique passwords for all crypto-related accounts and enable two-factor authentication (2FA) wherever possible. Verify URLs: Always double-check the URL of any crypto website you visit. Phishing sites often use very similar domain names. Bookmark legitimate sites. Be Wary of Phishing: Never click on suspicious links in emails, social media, or direct messages. Always assume a message is a scam until proven otherwise. Understand What You Sign: When interacting with dApps, carefully review the transaction details before signing. Ensure you understand what permissions you are granting. The Impact of DeFi Hacks on Digital Asset Safety While the TRM Labs report highlights private key and front-end exploits, it’s impossible to discuss large-scale crypto losses without acknowledging the significant role of DeFi hacks . Decentralized Finance (DeFi) protocols, while innovative, often present a larger attack surface due to their composability and complex smart contract interactions. Many front-end vulnerabilities are indeed tied to DeFi applications, where users interact with protocols through web interfaces. The interconnectedness of the DeFi ecosystem means that a hack on one protocol can sometimes have ripple effects, impacting others. Flash loan attacks, re-entrancy bugs, and oracle manipulations are common in the DeFi space, alongside the front-end and private key issues that affect the broader crypto landscape. The rapid evolution of DeFi also means new vulnerabilities are constantly emerging, demanding continuous innovation in security measures to maintain digital asset safety . Navigating the Future of Digital Asset Safety The first half of 2025 serves as a harsh but necessary wake-up call. The escalating figures for crypto losses underscore the urgent need for a more robust and proactive approach to security across the entire digital asset ecosystem. It’s a continuous arms race between innovators and attackers, and vigilance is paramount. The industry must invest more heavily in security research, implement standardized best practices, and foster greater collaboration among projects, security firms, and law enforcement. For users, the message is clear: personal responsibility in securing your assets is more critical than ever. As the digital economy expands, so too does the value of what’s at stake. Ultimately, while the figures are daunting, they also spur innovation. Every major hack pushes the industry to develop better defenses, more secure protocols, and more resilient infrastructure. The journey towards truly secure and universally trusted digital assets is ongoing, and learning from these painful lessons is a vital step forward. To learn more about the latest crypto market trends and enhance your digital asset safety , explore our articles on key developments shaping the future of decentralized finance and blockchain security. This post Crypto Losses Skyrocket: $2.1 Billion Vanishes in Alarming H1 2025 Exploits first appeared on BitcoinWorld and is written by Editorial Team
Countries that ban crypto payments often have no restrictions on using crypto abroad, but such legal overlaps may attract scrutiny from global regulators like the FATF.
In a notable moment for the convergence of cryptocurrency and traditional finance, Strategy’s Michael Saylor has opened a public dialogue with US Federal Housing Finance Agency (FHFA) Director William Pulte regarding the integration of Bitcoin into mainstream mortgage lending. This engagement centres on Saylor’s proposal to share a proprietary Bitcoin Credit Model designed to assess loan risk using Bitcoin-specific metrics like volatility and asset coverage. The conversation follows Pulte’s announcement that the FHFA is exploring whether cryptocurrency holdings could play a role in mortgage qualification, potentially signalling a shift in how federal housing agencies such as Fannie Mae and Freddie Mac evaluate borrower assets. The exchange highlights not only the maturing role of Bitcoin in financial planning but also the potential for federal regulators to influence how digital assets might be incorporated into home lending frameworks. Did Saylor Orange Pill US FHFA Director William Pulte? In a recent development underscoring the growing intersection between digital assets and traditional finance, MicroStrategy Executive Chairman Michael Saylor publicly engaged with Federal Housing Finance Agency (FHFA) Director William Pulte on the potential for Bitcoin-backed mortgage models. Saylor offered to share Strategy’s proprietary Bitcoin Credit Model , which analyses loan risk and pricing based on key Bitcoin-specific metrics such as price volatility, asset appreciation forecasts, and collateral coverage. This outreach followed Pulte’s statement that the FHFA would study how cryptocurrency holdings might factor into mortgage qualification assessments, an announcement seen by some as a signal that federal housing agencies like Fannie Mae and Freddie Mac may be reconsidering legacy lending criteria in light of evolving asset portfolios among U.S. households. The FHFA’s willingness to examine crypto asset integration is particularly notable given its role in overseeing government-sponsored mortgage giants Fannie Mae and Freddie Mac, which currently require that cryptocurrency be converted into US dollars and held at regulated institutions before it can be counted in borrower asset calculations. Until earlier this year, regulations such as the SEC’s now-repealed SAB 121 effectively discouraged mainstream financial institutions from accepting crypto assets as loan collateral. The removal of these accounting restrictions has opened new opportunities for digital assets to be recognised in underwriting frameworks, potentially allowing borrowers to leverage their Bitcoin holdings without liquidating them. Saylor’s intervention adds technical depth to this policy conversation by introducing a credit model tailored specifically to the characteristics of Bitcoin as collateral. Unlike traditional assets, Bitcoin’s volatility, liquidity, and non-sovereign nature require distinct methods for calculating loan-to-value ratios, duration-based risk spreads, and margin thresholds. His firm’s model aims to quantify these variables to support safer, over-collateralised lending structures that could be integrated into existing mortgage products. Should regulators adopt or adapt such a framework, it could mark a significant step toward the mainstreaming of crypto-backed mortgages through established institutions, rather than niche providers. This exchange also arrives amid growing public interest in alternative financing models, especially among younger Americans who hold a disproportionate share of their net worth in digital assets . A shift in policy from institutions like the FHFA could legitimise the use of Bitcoin as a form of wealth in housing finance, potentially improving access to homeownership for crypto-native households. Whether this signals a broader alignment between crypto innovation and US housing policy remains to be seen, but the dialogue between Saylor and Pulte suggests that such discussions are no longer merely theoretical, they are now taking place at the highest levels of US housing finance governance. What is a Bitcoin-Backed Mortgage and How Does it Work? A Bitcoin mortgage is a type of loan where Bitcoin (BTC) is used as collateral instead of, or in addition to, a traditional cash down payment. In this structure, a borrower pledges a specified amount of Bitcoin to a lender, which holds it in escrow for the duration of the mortgage. The borrower then receives fiat currency (e.g. USD) to purchase property, and makes monthly repayments similar to a conventional mortgage. These arrangements are usually over-collateralised , meaning the value of the pledged Bitcoin exceeds the value of the loan, to protect the lender from price volatility, a dynamic which grew out of DeFi lending. If the value of Bitcoin falls below a certain threshold, the borrower may be required to add more collateral or risk liquidation of their BTC to cover the outstanding balance. Compared to standard mortgages, Bitcoin-backed mortgages offer a different risk-reward profile. Traditional home loans are based on credit history, income documentation, and a fiat down payment, typically between 10% and 20% of the home’s value. Bitcoin mortgages, by contrast, may appeal to borrowers who are asset-rich in crypto but either unwilling or unable to liquidate their holdings. These products can circumvent some of the documentation hurdles in traditional underwriting but introduce new risks around asset volatility. In addition, while specialised lenders offer these products, most traditional banks still do not accept Bitcoin as a valid asset for mortgage qualification due to regulatory and balance sheet constraints, though this may change if agencies like the FHFA broaden asset recognition standards. Bitcoin-native features like multisignature (multisig) wallets and timelocks offer enhanced security and trust minimisation in lending arrangements. Multisig ensures that funds can only be spent when a predefined number of parties approve the transaction, reducing counterparty risk, while timelocks allow transactions to be locked until a specific time or block height, enabling automated loan expiry or repayment conditions without requiring intermediaries. Interest rates for Bitcoin mortgages can be competitive, but they often vary widely depending on the lender, collateral coverage, and market conditions. Rates may be lower than unsecured crypto loans, but not always on par with the most favourable conventional mortgage rates, particularly from government-backed lenders. In some cases, lenders may offer flexible terms to attract borrowers who wish to retain exposure to BTC’s long-term appreciation while accessing liquidity. However, borrowers face additional costs such as custodial and escrow fees, and the risk of margin calls during market downturns, which can erode any rate advantages. Until Bitcoin becomes an approved asset within traditional institutions like Fannie Mae and Freddie Mac, rates are unlikely to standardise across the broader lending market. Bitcoin’s deflationary economic model, driven by its fixed 21 million coin supply and halving cycles every four years, introduces a unique dynamic into mortgage lending. Theoretically, as new supply is cut in half and issuance slows, the scarcity of Bitcoin could increase its value over time. This has historically incentivised long-term holding (HODLing), making Bitcoin an attractive reserve asset for some. In the context of a mortgage, this means borrowers might be reluctant to pledge Bitcoin as collateral, fearing opportunity cost if the price rises dramatically. At the same time, lenders may be wary of sharp declines that could compromise collateral value. The success of Bitcoin mortgages in the long term will depend on how lenders and regulators manage this volatility, and whether Bitcoin’s deflationary model is seen as a stable enough basis to underpin large, long-duration financial products like home loans. Is Saylor Too Optimistic or Will the Lending Industry Embrace Bitcoin? Michael Saylor’s framing of Bitcoin as a digital asset rather than a form of digital cash has defined his entire investment philosophy, guiding both Strategy’s corporate strategy and his broader public advocacy. By treating Bitcoin not as a medium of exchange but as a pristine, long-duration store of value, Saylor has dismissed spending or transacting with BTC in favour of accumulating and holding it indefinitely. However, this conviction has naturally led him to explore mechanisms by which Bitcoin can generate yield, a pursuit that sits uneasily with the asset’s trust-minimised design and P2P principles. His recent interest in Bitcoin-backed credit models, such as mortgages, reflects a desire to monetise Bitcoin without selling it. Yet this approach enters murky territory, especially considering the high-profile collapses of past retail-focused crypto lending platforms that offered similar promises. The failures of firms like Celsius , Voyager , and BlockFi highlight the inherent risks of attempting to extract yield from volatile digital assets in poorly regulated environments. These companies offered attractive returns to depositors while engaging in opaque, leveraged, and often mismatched lending practices. When prices collapsed, so did their balance sheets, leaving users with frozen accounts and mounting losses. Saylor’s version of yield, rooted in secured, over-collateralised lending against Bitcoin rather than uncollateralised or rehypothecated deposits, may seem more conservative in comparison. But the underlying tension remains in the fact that Bitcoin is not a risk-free yield-generating instrument, and introducing debt-based products around it inevitably reintroduces credit risk, counterparty risk, and systemic fragility into a space that was, in theory, designed to eliminate them. If federal regulators such as the FHFA ultimately approve the use of Bitcoin as qualifying collateral for mortgages, the traditional lending industry could be forced to adapt to a new class of asset and borrower. Banks and government-sponsored enterprises like Fannie Mae and Freddie Mac would need to develop protocols for valuing, securing, and managing digital collateral in compliance with capital requirements and consumer protection rules. This could bring new revenue streams, borrower demographics, and innovation to the mortgage sector, particularly among younger, crypto-native households who are currently underbanked by traditional standards but overexposed to digital assets. It would also likely prompt standardisation efforts, including regulatory guidance on custody, valuation methodologies, and margin maintenance. If the federal government, through agencies like the FHFA, establishes a clear and favourable regulatory framework for Bitcoin-backed mortgages, it is likely that major players in the banking industry would follow suit, albeit cautiously. Traditional financial institutions are generally risk-averse and heavily regulated, but they also have a long history of adapting to government-backed policy shifts, especially when accompanied by guarantees or securitisation mechanisms such as those offered by Fannie Mae or Freddie Mac. A green light from federal authorities would reduce legal ambiguity and provide the compliance infrastructure necessary for banks to safely evaluate, custody, and lend against Bitcoin collateral. While some conservative institutions may remain hesitant due to volatility concerns or reputational risk, others, especially fintech-forward banks or those already exploring digital asset custody, could view this as a competitive opportunity to tap into a growing demographic of crypto-native borrowers and expand their lending portfolios in a high-margin, underserved market. In an optimistic scenario, if Bitcoin-backed mortgages gain traction and prove resilient, the lending industry could see a wave of hybrid financial products that merge traditional underwriting with decentralised asset classes. Lenders might offer tiered products with dynamic loan-to-value ratios based on Bitcoin volatility metrics, or integrate stablecoins and BTC together for risk balancing. Over time, the legitimacy of Bitcoin as a financial asset class could be solidified, potentially leading to secondary markets for tokenised mortgage debt or new layers of credit infrastructure. But this vision hinges on whether institutional actors can manage the volatility and cultural idiosyncrasies of Bitcoin responsibly, without repeating the speculative overreach that doomed previous lending experiments in the crypto space. The post How Soon Until We See Widespread Bitcoin Mortgages? appeared first on Bitfinex blog .
Summary The market has unfairly punished BitFuFu for a dismal Q1, but a closer look reveals the operational challenges that caused the slump were temporary. Recent operational data from April and May confirms a powerful turnaround is already underway, showcasing an exponential rebound in hashrate and a sharp recovery in Bitcoin production. BitFuFu trades at a glaring valuation disconnect from its U.S. peers, with the market assigning a value to its hashrate that is a mere fraction of the industry average. This significant market misunderstanding has created a compelling arbitrage opportunity, leaving room for a substantial valuation re-rating as the company heads into its Q2 earnings report. Just over a month ago, I claimed that BitFuFu Inc. ( FUFU ), a Singapore-based crypto miner, was well on track for strong operating income growth in 2026. FUFU stock has lost almost 20% since then after the company reported lackluster earnings for the first quarter, characterized by a 46% YoY decline in revenue, primarily attributable to the bitcoin halving event in April last year. All else equal, bitcoin halving negatively impacts miner revenue, which is something crypto investors are well aware of now. After going through BitFuFu's April and May performance data, I am confident that the company is among the few crypto miners that are operationally ready to thrive amid increasing mining difficulty. As such, I find BitFuFu's market valuation materially disconnected from its economic value at a time when it's valued at a substantial discount to its closest peers, presenting an arbitrage opportunity for investors. BitFuFu's Challenging First Quarter The fourth bitcoin halving in April 2024 has materially impacted the comparable revenue growth of crypto miners of every scale and size. BitFuFu's Q1 revenue declined from $144.4 million a year ago to just $78 million, showcasing this massive impact. Not only has BitFuFu felt the impact, but larger players like MARA Holdings ( MARA ) and Riot Platforms ( RIOT ) also reported substantial net losses in Q1. MARA's net loss in Q1 totaled $533.4 million, and RIOT reported a net loss of $296.4 million. BitFuFu, on the other hand, reported a net loss of $16.9 million. However, bitcoin halving is not the only factor that has impacted revenue negatively. While peers such as MARA and RIOT mitigated the bitcoin halving impact through substantial operational expansions that led to robust hashrate growth, BitFuFu suffered a temporary decline in the hashrate under management as well (hashrate dropped 28% YoY to 20.6 EH/s from 28.6 EH/s). This paved the way for a truly lackluster Q1 performance. In its Q1 earnings release, BitFuFu reported that this temporary decline in the hashrate came on the back of the expiration of some hashrate purchase orders and miner relocation. While BitFuFu's peers made the most of surging bitcoin prices, the company was not in a position to capitalize on this price increase as self-mined bitcoin production declined staggeringly from 1,103 in Q1 2024 to just 186 in Q1 2025. Exhibit 1: BitFuFu's Q1 Performance Metrics Q1 Earnings Release The below table summarizes how BitFuFu fell behind its closest peers in the first quarter. Company Q1 2025 YoY revenue growth Q1 2025 hashrate growth Q1 2025 YoY BTC production change Comments BitFuFu -46% -28% -83% (self-mining) Revenue was impacted by bitcoin halving and a substantial yet temporary drop in hashrate. Riot Platforms 100% 172% 12.2% Substantial hashrate growth helped Riot overcome the halving impact. Mara Holdings 30% 95% -19% Hashrate growth helped mitigate the halving impact, but revenue growth mostly came from higher BTC prices. Source: Company Filings At first glance, you might feel BitFuFu is losing ground. However, as I reveal in the next segments of this analysis, FUFU stock has been punished for a temporary deterioration in its financial performance. This market misunderstanding is exactly what sets the stage for an arbitrage opportunity. April/May Data Confirms BitFuFu's Rebound As we inch toward the end of the second quarter, we already have access to BitFuFu's April and May performance data that confirms, without a shred of doubt, that the company has well and truly recovered from the challenges faced in Q1. Encouragingly, the rebound is across all key operational metrics, which confirms that BitFuFu is headed in the right direction. The most direct, meaningful evidence of this recovery comes in the form of a significant improvement in the hashrate under management. From just 20.6 EH/s at the end of Q1, hashrate grew 37% MoM to 28.3 EH/s in April, followed by another strong 21% MoM increase to 34.1 EH/s in May. Based on these numbers, within just two months from the end of the disappointing first quarter, BitFuFu's hashrate under management has grown exponentially to surpass Riot Platform's Q1 deployed hashrate of 33.7 EH/s. Along with the hashrate under management, bitcoin production has also rebounded sharply after a sluggish Q1. In Q1, the company produced a total of just 723 BTC (186 BTC from self-mining and 537 BTC from the cloud-mining segment). In April, BitFuFu mined a total of 209 BTC , followed by 400 BTC mined in May , bringing the total BTC production to 609 in the first two months of the quarter. Based on these numbers, BitFuFu seems well on track to produce a meaningfully higher number of BTC in the second quarter, assuming this trend remains strong. The strong performance in May was driven by the contribution from the hashrate purchased in late April, and a similar feat could be expected in June as the company purchased additional hashrate in late May as well. Importantly, the average daily BTC production increased from 7 in April to 12.9 in May, suggesting that the robust increase in hashrate is already contributing positively. BitFuFu's strong growth in April and May corresponded to a robust increase in the power infrastructure as well, which gives me confidence that the observed hashrate growth is well-supported from a power requirement perspective. At the end of Q1, the company had a power capacity of 478 MW, a notable decline from 644 MW of power capacity as of Q1 2024. Since then, however, the trend has turned positive, with power capacity growing 18% MoM in April to 566 MW, followed by another 15% MoM increase in May to 651 MW. This continued increase in power capacity highlights the progress in BitFuFu's strategic plan to reach 1 GW of power capacity by 2026. Exhibit 2: BitFuFu's Power Capacity June Presentation Taking a closer look at BitFuFu's strategic BTC holdings, which form the backbone of its treasury strategy, reveals that the management is following the best course of action to drive shareholder returns higher. After seeing an increase in BTC holdings from 1,835 in March to 1,908 in April, the company sold 178 BTC at an average price of $104,000 in May to capitalize on the recent run-up in bitcoin prices. At the end of May, BitFuFu held 1,709 BTC. BitFuFu's performance in April and May, in my opinion, foreshadows how the company could grow profitably in the post-bitcoin halving environment by focusing on operational efficiency and access to low-cost power. These two variables will play a key role in determining the profitability of every bitcoin miner in the long run, and I am confident that BitFuFu is headed in the right direction on this front. The Valuation Disparity Highlights The Opportunity For A Re-Rating BitFuFu is significantly undervalued from a comparable valuation perspective. I believe this undervaluation primarily stems from the company's unique business model, as it generates the bulk of its revenue from cloud-mining services. This unique business model also involves securing a major portion of its total hashrate from third-party suppliers. In comparison, stock market darlings such as Riot Platforms, Mara Holdings, and CleanSpark have a more straightforward business model where they have positioned themselves as bitcoin miners. This business model differentiation may have contributed to the market seeing BitFuFu as a riskier business compared to its peers. Another factor that may have contributed to the comparable undervaluation is BitFuFu's Singapore origins. All of the competitors I discussed above are headquartered in the U.S., which naturally boosts their investment appeal. BitFuFu's smaller scale from a BTC ownership perspective compared to its peers may have also played a part in this relatively cheap valuation. As of May 31, FUFU held 1,709 BTC compared to 19,225 for Riot, 49,179 for Mara, and 12,502 for CleanSpark according to the most recent data. While this smaller scale may spook some investors, in reality, this should not be a dealbreaker, given that BitFuFu is executing its strategy well. To realistically estimate BitFuFu's intrinsic value, I thought it's best to use a Market Cap/Hashrate comparison of its American peers and then apply a valuation discount to reflect the factors discussed above. Before that, let's see how BitFuFu compares with its peers across a few important metrics. Metric FUFU RIOT MARA CLSK Peer Average Stock price $3.17 $10 $14.98 $10.6 - Market capitalization $535 million $3.58 billion $5.24 billion $2.82 billion - TTM revenue $397 million $459 million $705 million $537 million P/S multiple 1.35x 6.41x 6.57x 4.88x 5.95x Hashrate 34.1 EH/s 35.4 EH/s 58.3 EH/s 45.6 EH/s Market cap/hashrate $15.68 million/EH $101.13 million/EH $89.87 million/EH $61.64 million/EH $84.21 million/EH Note: Stock Price Data as of June 26. Looking at this table, FUFU's disconnect from the peer group is evident. At a P/E multiple of 1.35x, FUFU is significantly undervalued compared to the peer average of almost 6x. The undervaluation is even more evident by the fact that the market is attaching a value of $15.68 million per EH for BitFuFu whereas the peer average is over $80 million. Given the limitations that I discussed earlier, I believe a 30% discount to the peer average is warranted, which gives us a target fair value of $58.95 million/EH. Based on BitFuFu's current hashrate of 34.1 EH/s, the implied market cap comes to $2.01 billion. Based on 163.2 million shares outstanding, the per-share intrinsic value estimate comes to $12.32, which implies an upside potential of almost 300%. Even after applying a valuation discount to account for company-specific limitations facing BitFuFu, the company seems substantially undervalued in the market, which makes FUFU stock an attractive bet for investors looking to gain exposure to bitcoin. Takeaway BitFuFu, after a disappointing Q1 performance, is attractively valued in the market compared to other publicly traded bitcoin miners. The short-term challenges that led to this lackluster Q1 performance seem to have passed, and the company has shown resilience in the first two months of the second quarter. The market seems to have misunderstood the growth potential of BitFuFu, leaving room for a valuation re-rating once the Q2 earnings report is out. Key risks to monitor include the company's reliance on third-party hashrate providers, execution risks facing vertical integration efforts involving data centers, and the revenue volatility arising from its reliance on cloud mining.
The cryptocurrency market is buzzing with renewed anticipation for an “altseason,” a period where alternative cryptocurrencies typically witness significant price appreciation. This optimism stems from a recent analysis by CryptoQuant analyst Axel Adler Jr., who has pinpointed a crucial on-chain signal indicative of potential strong rallies ahead for altcoins. Sharp Drop in Altcoin Inflows Signals … Continue reading "Altseason Beckons? CryptoQuant Analyst Uncovers Key Accumulation Trend" The post Altseason Beckons? CryptoQuant Analyst Uncovers Key Accumulation Trend appeared first on Cryptoknowmics-Crypto News and Media Platform .
U.S. stocks continued to show strength on Friday as the S&P 500 notched a new record high and the Dow opened higher following the latest inflation data. The S&P 500 rose 0.3% at the open, surpassing its previous all-time high, with the benchmark index hitting 6,156.80. Previously, on February 19, 2025, the S&P 500 touched an intraday high of 6,147.43. Meanwhile, the Dow Jones Industrial Average traded 300 points higher at open, while the Nasdaq Composite opened 0.5% up, looking to end the week on a positive note. This stock market rally comes amid investor focus on the release of new data showing core inflation rose slightly in May. The personal consumption expenditures price index, which is the Federal Reserve’s primary inflation gauge, increased to a seasonally adjusted 0.1% for May. This puts the annual U.S. inflation rate at 2.3%. The core PCE inflation reading, which excludes food and energy, stood at 0.2% for the month and 2.7% year-over-year, slightly above economists’ estimates of 0.1% and 2.6%, respectively. You might also like: Will Wall Street keep betting on crypto: What to expect from your altcoin portfolio Despite this, stocks remain strong and are looking to extend their positive run. A thawing of tensions in the Middle East and recent announcements around tariffs have helped ease some market fears. In addition to the S&P 500, Bitcoin ( BTC ) is also eyeing a move to a new all-time high. The top cryptocurrency is hovering around $107,000 after a notable recovery this week. Investors will be watching for the Federal Reserve’s next move, with growing optimism that the central bank may decide to lower interest rates at its July meeting. Also worth noting: the White House said on Thursday that President Donald Trump’s July deadlines for tariff implementation in several countries are “not critical.” You might also like: Few central banks see Bitcoin reserves on horizon but interest in diversification still grows