The cryptocurrency exchange Gemini has submitted its paperwork for an initial public offering (IPO) to the US Securities and Exchange Commission (SEC), as stated in a press release on June 6. Gemini is seeking to go public through an IPO. Gemini had submitted a confidential draft registration statement on SEC Form S-1, which would permit the company to apply for an IPO without revealing sensitive information to the public. The filing has been motioned amid renewed investor confidence as trade war fears have receded. The number of shares to be offered and the price range have not yet been determined. No date was given or when the IPO might take place. Winklevoss twins drive Gemini’s ambitious growth Gemini was founded in 2014 by twins Cameron and Tyler Winklevoss. In November 2021, it announced a fundraising of $400 million at a valuation of $7.1 billion. Around November 2022, Gemini was said to have approximately 1,000 employees, though it laid off some employees during the crypto winter. In January 2023, Gemini conflicted with the SEC over the exchange’s “Earn” program, through which the agency claimed unregistered securities sales . The Winklevoss twins were notable supporters of US President Donald Trump’s election campaign and donated $1 million. However, the money was returned after the individuals had exceeded the maximum that people could contribute. The battle for IPO is already heating up following Circle’s successful IPO on June 5 and the soaring stock price of Coreweave after the company went public in March. Circle’s IPO encourages other crypto firms to follow the lead Circle has encouraged other large crypto firms, such as Gemini, to go public as the industry reaps the benefit of President Donald Trump’s embrace of the sector. Earlier, Circle had priced its shares at $ 31 on Wednesday, June 4. Reflecting strong investor demand, they opened trading on the New York Stock Exchange on Thursday, June 5, at $69 and closed at $83.23. That trajectory will likely be an encouraging sign for other crypto companies looking to make stock market debuts. Circle is the first big crypto company to go public since the crypto exchange Coinbase was listed on Nasdaq in 2021. Analysts anticipate that more crypto companies will apply for an IPO Analysts had identified crypto exchanges Kraken and Gemini as potential IPO candidates in the digital asset sector. Interestingly, their prediction came true with Gemini’s IPO announcement. The companies did not immediately respond to a request for comment. An example of the analysts include Jacob Zuller, an analyst at Third Bridge, who stated that it would not be shocking if more crypto companies did the same as Circle . Based on his argument, the public markets realize that crypto is here to stay. Dan Dolev, a Wall Street analyst at Mizuho Securities, is another pundit who voiced his opinion. According to Dolev, Circle’s IPO success shows pent-up demand for crypto and other fintech companies in the public markets. Based on his argument, if IPOs are doing well, it is a good indicator. Lynn Martin, the President of NYSE Group, added that Circle’s IPO is a good sign for crypto listings and IPOs. She explained that she viewed the Circle IPO as a key indicator for this year’s IPO market beyond just crypto listings. Circle issues USDC, a stablecoin linked to the US dollar, and it aims to keep its value steady. Crypto traders employ stablecoins to shift money among tokens swiftly, and advocates say they could be used to send or receive payments instantly. In an interview, Circle CEO Jeremy Allaire highlighted that from the beginning, they strongly believed that they could create a new system for money using the internet, which, according to them, could change how money is used. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Hyperliquid’s perpetual contract trading volume surged to unprecedented levels in May, reaching over $2.48 trillion, marking a significant 51.5% month-over-month increase. This robust growth underscores the platform’s expanding influence within
Solana sees mixed whale behavior, a major CDD spike, and key resistance near $155.
Tech behemoths Apple, Google, Airbnb, and X (formerly Twitter), among others, are reportedly exploring the integration of stablecoins into their platforms, according to multiple industry sources familiar with the matter. Stablecoins are cryptocurrencies pegged to stable assets , such as the US dollar. They provide the advantages of blockchain but without the volatility that has plagued more traditional crypto tokens like Bitcoin. These discussions are occurring as demand increases for faster, cheaper cross-border payments. The positives are also obvious for tech companies like Airbnb, which are globally reachable. Accepting stablecoins could also avert steep fees charged by credit card networks such as Visa and Mastercard. An Airbnb spokesperson said that the company is “always looking at all aspects of payments” for improving user experience , but it is also looking into digital assets. According to previous reports, X has reportedly expressed an interest in adding stablecoin payments to its upcoming payments product, X Money. According to sources, Elon Musk’s team has been in touch with crypto companies, and the company is in talks with Stripe about integration. The aim is to realize Musk’s ideal of an “ everything app ” that blends social media, payments, and commerce. Apple is also keen on stablecoin functionality through its Apple Pay infrastructure. Sources hint the tech firm has been in talks with Circle, the minters of the hugely popular USDC stablecoin, since early this year. Google was interested, too, it was reported. Rich Widmann, who leads Web3 strategy at Google Cloud, has called stablecoins “one of the biggest upgrades to payments since the SWIFT network.” Stripe bets on stablecoins with bold acquisition Stripe, one of the world’s largest payment processors, has made a bold bet. It recently purchased Bridge, a stablecoin infrastructure startup with funding from vendor capital firm Haun Ventures. Bridge has been working on tools to enable businesses to implement stablecoin payments quickly and securely. Stripe’s purchase of Bridge was interpreted as a sign that stablecoins have turned the corner in Silicon Valley. The deal also gave Stripe a technical advantage — Bridge’s infrastructure will be used to assist Stripe in making it possible for accounts and payments to be made in a stablecoin, which is important for global freelancers and marketplaces. Visa has followed suit by rolling out pilots for issuing stablecoin-linked cards with Bridge in April 2025. The sources say Airbnb is discussing with one of its existing payment partners the incorporation of one of the popular stablecoins to facilitate easy payment processes. Worldpay recently disclosed that it would facilitate stablecoin payouts by partnering with BNVK, a crypto infrastructure provider. Trump administration eases crypto regulations In the United States, legislators are considering two bills to regulate stablecoins. The most high-profile, known as the GENIUS Act , details consumer protections, reserve requirements, and oversight mechanisms for issuers of digital dollars. Big Tech was hesitant about crypto in part because of scrutiny under the Biden administration. But the political winds are shifting. The second term of Donald Trump has injected vitality into the realm of blockchain. His administration has pursued a more hands-off approach, pushing agencies to roll back rules and embrace crypto innovation. This policy change has reawakened some dormant dreams. Two years after regulatory opposition forced Meta to mothball its Diem stablecoin project, the parent company reconsidered its views on crypto payments. Uber’s chief executive, Dara Khosrowshahi, said recently that the ride-hailing company is examining the use of stablecoins for its global transfers. Uber’s interest is further evidence of a broader trend circulating throughout tech circles, not just a niche idea. For now, the tone is most cautious among most firms, including Google and Airbnb. They are not promising instant launches. However, their research, alliances, and internal experiments indicate that they are gaining confidence in the future for stablecoins. KEY Difference Wire helps crypto brands break through and dominate headlines fast
Bitcoin (BTC) dropped sharply over the past 24 hours, nearing the $100,000 mark with an intraday low of $100,984. This price movement reflects increased volatility across the crypto market following a public exchange on social media between US President Donald Trump and Tesla CEO Elon Musk. Their clash appears to have triggered a wave of risk-off sentiment among traders. In response, the global crypto market cap slipped 4%, falling from over $3.4 trillion yesterday to $3.33 trillion. Meanwhile, the broader market correction has not gone unnoticed in derivatives data. Related Reading: Crypto Analyst Warns: This Bitcoin Bull Cycle Looks Nothing Like 2017 or 2021 Derivative Metrics Reveal Bearish Sentiment Spike According to CryptoQuant analyst Darkfost, the Binance net taker volume, a metric that measures the difference between aggressive longs and shorts, fell dramatically from $20 million to -$135 million in under eight hours. This signals a sharp pivot in sentiment, as traders rushed to hedge or speculate on downside risk in response to the unfolding news. Darkfost emphasized that this was the largest intraday net taker volume reversal observed on Binance this year. The abrupt shift reflects how quickly sentiment can change when macro-level narratives or influential figures dominate headlines. In this case, the market responded swiftly to perceived uncertainty, leading to a concentration of short positions and significant selling pressure. The situation also led to a notable change in BTC perpetual futures funding rates. Funding on Binance turned negative after briefly trending toward positive territory, dropping from +0.003 to below -0.004. This indicates that short sellers were willing to pay a premium to maintain bearish positions, underscoring rising fear and potentially overextended downside bets. 🔔When Funding rates turns negative. 🔹 Buying or considering a long position is often wise when funding rates turn highly negative, especially if the price starts to trend upward. This typically signals a disbelief sentiment among traders, creating strong contrarian… pic.twitter.com/LGyHU9uNNK — Darkfost (@Darkfost_Coc) June 6, 2025 Bitcoin Past Patterns Suggest Potential for Reversal Historically, deeply negative funding rates have been followed by strong recoveries in Bitcoin’s price. Darkfost noted three previous events where similar funding shifts led to large rallies: October 2023 (BTC surged from $28,000 to $73,000), September 2024 (from $57,000 to $108,000), and May 2025 (from $97,000 to $111,000). Related Reading: Bitcoin’s Key Investors Double Down, Buy Another 79,000 BTC While not guaranteed, these patterns suggest that extreme pessimism can sometimes signal market turning points. The only recent exception occurred in March 2025 following trade tariff announcements, which led to a continued decline. Still, many traders are watching closely for signs of a short squeeze, where price rebounds force short sellers to cover, amplifying upward momentum. Featured image created with DALL-E, Chart from TreadingView
Metaplanet Inc. has announced a $5.4 billion equity raise to significantly increase its bitcoin holdings to 210,000 BTC by 2027, representing approximately 1% of the total bitcoin supply. Japanese Firm Aims for 1% of Bitcoin Supply with Ambitious Acquisition Strategy Metaplanet Inc., a Tokyo-listed investment company, has unveiled an ambitious plan to raise $5.4 billion
Fidelity Investments, one of the world’s most respected financial institutions, has made significant strides in digital assets in recent years. The firm offers institutional clients Bitcoin and Ethereum custody and trading services through Fidelity Digital Assets. It has also explored blockchain applications in settlement and tokenized securities—efforts that underline its long-term commitment to bridging traditional and digital finance. While there is no official confirmation, a representative of Fidelity recently said that the firm’s digital asset arm was experimenting with a stablecoin. However, it did not have immediate plans to launch one. The arrival of Fidelity into stablecoins will likely bring more trust, attention, and skills to the stablecoin ecosystem. However, it could also invite tougher scrutiny from regulators and raise concerns about fairness or the likelihood that a handful of large players could dominate the market . Some people believe Fidelity’s new stablecoin will help provide safer, more reliable digital payment options. However, critics say it could create problems with oversight, limit competition, and concentrate too much power in the hands of a few large firms. How does Fidelity’s stablecoin help innovation? Reports indicate that Fidelity has a pilot program for a stablecoin backed by the US dollar to make faster, cheaper, and more efficient payments and settlements than traditional methods. The company wants to build a bridge between old and new finance, and its investment shows that trusted, well-established financial institutions see stablecoins as a serious and credible part of the future financial system. Some crypto experts suggest Fidelity’s move will push banks, payment providers, and fintech companies to adopt blockchain technology faster and improve their services due to the growing competition. Blockchain experts also pointed out the success of Fidelity’s early pilot programs, saying the trials show promising results that could fuel optimism among other big players and make digital financial systems more accessible for everyone. What risks come with Fidelity’s stablecoin? Some critics say unclear rules for digital currencies make it hard for investors, companies, and regulators to know what’s fair or how to keep the market safe. Others, though, fear that large firms like Fidelity will crowd out small start-ups and prevent these new and innovative businesses from getting a fair shot at competition and that the end result will be less fresh ideas and new competition. Some people fear that if just a handful of big companies dominate most stablecoins, it could risk the entire financial system if any one of them encounters trouble. They also worry about whether these companies will be truthful when they claim to manage their reserves responsibly and to keep users safe. Fidelity’s stablecoin initiative is part of a larger trend where many traditional banks and fintech companies actively develop their own stablecoins or explore blockchain technology to improve payment systems and financial services. Those advantages have attracted the attention of political leaders and regulators who agree there is an opportunity for the industry to expand and offer benefits to more people but have also sought to create clear rules to remove the risks associated with these tokens and to shield consumers from potential harm. Some crypto projects are concerned that large finance companies like Fidelity will use their vast amounts of resources to take over a large part of the crypto space and discourage new innovations from startups, which beats the whole purpose of cryptocurrency. As a result, there is a growing push and pull between industry experts who want regulators to create soft laws that will help the crypto industry grow by making it fair for small companies to compete with large firms and those who want strict rules that will protect everyone from the dominance of large financial institutions. What does Fidelity’s stablecoin mean for the future? People and financial firms that have doubts about cryptocurrencies will get a positive perspective about investing in digital currency when they see Fidelity’s stablecoin initiative succeed. Big banks and fintech companies will also be motivated to develop their own stablecoins or develop new blockchain solutions to help make digital finance accessible to a wider audience. We still can’t ignore the risks involved because it is possible that large firms like Fidelity might try to dominate the crypto market once they see the company succeed. This means they will have more influence on whether they are worthy of joining the crypto space, which would make it difficult for smaller firms to compete. The current laws around cryptocurrency also don’t fully address the problems big companies bring when they introduce their own coins. This is because these firms must follow heavy compliance requirements and need tight supervision that smaller companies will struggle to keep up with. The success or failure of Fidelity’s stablecoin will likely shape the future of both traditional finance and the crypto world, influencing how open, fair, and innovative this industry can become. KEY Difference Wire helps crypto brands break through and dominate headlines fast
According to recent data from LookIntoChain, six distinct wallet addresses have collectively transferred 95.36 million ENA tokens to Binance within the last 20 hours. This transaction volume equates to an
According to recent data from LookIntoChain, a prominent whale wallet identified by the prefix 0x3610 transferred 3.26 million MASK tokens to Binance, marking a significant on-chain movement. This transaction, executed
SUI can embark on a breakdown, instead of a pullback.