Author: John Smith
June delivered the worst month in the history of United States spot Bitcoin ETFs, with more than $4 billion pulled and 2026 flows turning negative for the first time. Over the same 2 weeks, the largest wallets on the network absorbed 270,000 BTC. One of these cohorts is going to be wrong, and the last 3 cycles say which one it usually is. Summary U.S. spot Bitcoin ETFs saw record June outflows, with more than $4 billion leaving as institutional risk appetite weakened. Whale wallets accumulated about 270,000 BTC worth $16.7 billion during the same period, signaling strong on-chain buying.…
On July 7, 3 weeks after the largest IPO in history, SPCX enters the Nasdaq-100 with billions in passive index buying behind it. The more interesting market is the one Wall Street does not run: tokenized shares on Solana, perpetual futures that priced the listing before bankers did, a $557 million subscription campaign that had to refund almost everyone, and 18,712 Bitcoin sitting on the rocket company’s balance sheet. Summary SpaceX’s Nasdaq-100 entry will bring estimated passive buying while crypto markets already trade its exposure around the clock. Tokenized shares, tracker products, and perpetual futures turned SPCX into a live…
On July 1, Robinhood launched its own blockchain, joining Coinbase, Stripe, Circle, and Tether in the fastest-moving infrastructure race in crypto: giant consumer companies building their own rails instead of renting someone else’s. The land grab has a clear logic, clear winners, and one uncomfortable question about what happens to the neutral chains everyone used to build on. Summary Robinhood has joined Coinbase, Stripe, Circle, and Tether in building its own blockchain, accelerating the corporate race to own crypto infrastructure instead of relying on public networks. Corporate chains promise higher margins, greater product control, and built-in user distribution, making infrastructure…
Bitcoin investors have entered an average unrealized loss of about 20%, while a key on-chain cost basis indicator has climbed to roughly $76,700, creating a resistance level that analysts say is weighing on the market. Summary CryptoQuant’s Darkfost says active Bitcoin investors are sitting on an average unrealized loss of about 20%. Bitcoin’s True Market Mean near $76,700 has emerged as a key resistance level based on active holder cost basis. Despite ETF inflow concerns, the analyst says Bitcoin may recover before reaching past bear-market valuation extremes. According to CryptoQuant analyst Darkfost, Bitcoin’s True Market Mean (TMM) currently stands near…
French police have arrested two suspected fraudsters accused of stealing about $1.8 million in cryptoassets from a wealthy couple during a fake villa sale after a year-long investigation. Summary French police arrested a mother and son accused of stealing €1.5 million in crypto during a fake villa sale. Investigators allege the suspects used hidden camera glasses to capture wallet credentials and drain the victims’ funds. The case comes as France reports a continued rise in crypto-related crimes, including kidnappings and extortion. According to French newspaper Var-Matin, French police from the Gassin–Saint-Tropez gendarmerie arrested a mother and her son on June…
Germany’s cooperative banking network has begun offering cryptocurrency trading through DZ Bank, opening digital asset access to millions of retail customers across the country. Summary DZ Bank has started rolling out crypto trading through Germany’s cooperative banking network. DekaBank plans a phased crypto trading launch for the country’s savings banks later this year. Germany is also considering new crypto tax rules that could end long-term tax exemptions from 2027. According to a Bloomberg report, the rollout gives customers of participating cooperative banks the ability to buy and sell cryptocurrencies directly through their existing banking relationships rather than using dedicated crypto…
U.S. spot Bitcoin exchange-traded funds have recorded $221.7 million in net inflows, ending a 10-day withdrawal streak as softer U.S. economic data and easing Federal Reserve rate concerns helped Bitcoin recover from this week’s lows. Summary U.S. spot Bitcoin ETFs recorded $221.7 million in inflows, ending a 10-day streak of net withdrawals. Weak U.S. jobs data and softer Fed comments helped Bitcoin rebound about 7.7% from its weekly low. Analysts pointed to strong historical July performance and late-cycle trends as sentiment improved. According to data from SoSoValue, Thursday’s inflows were the strongest daily total in about two months after investors…
The Major County Sheriffs of America has withdrawn its opposition to the decentralized finance provision in the CLARITY Act, easing one of the main law enforcement concerns surrounding the proposed U.S. crypto market structure bill. Summary Major County Sheriffs of America has dropped its opposition to the CLARITY Act’s DeFi provision and adopted a neutral stance. The group proposed amendments giving state and local law enforcement a formal role in Treasury studies and advisory bodies. Senate momentum has improved, with updated timelines and rising passage odds boosting expectations for the CLARITY Act. According to a letter sent by the Major…
Gnosis Pay has revealed that a software flaw dating back to October 2023 enabled the $1.5 million exploit of its card safe infrastructure, while confirming that all affected users have been fully reimbursed. Summary Gnosis Pay traced its $1.5 million hack to a Zodiac software flaw that had existed since October 2023. The company reimbursed all affected users, restored services within days, and continues recovering about $300,000. The incident adds to growing scrutiny of crypto security as firms and governments respond to rising cyber threats. According to a postmortem published by Gnosis Pay on Friday, the vulnerability was traced to…
South Korean crypto exchange Upbit has rejected claims that it is participating in the issuance of Open USD after being listed among more than 140 organizations associated with the proposed stablecoin. Summary Upbit says it is not participating in Open USD issuance despite Dunamu being listed by Open Standard. Samsung, Shinhan, and K-Bank have also said they have not formally agreed to join the stablecoin initiative. Unfinished South Korean stablecoin rules continue to delay firm commitments from potential participants. According to a statement issued by Upbit, the exchange has not agreed to issue or help launch the dollar-backed stablecoin, despite…