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Strategy’s Bitcoin bet sinks $12 billion underwater as STRC traders brace for more pain

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Strategy’s Bitcoin bet sinks $12 billion underwater as STRC traders brace for more pain
Strategy’s Bitcoin holdings have fallen roughly $12 billion below their purchase cost, placing the company’s capital-raising model under its sharpest pressure since it accelerated its Bitcoin treasury strategy. The company held 847,363 Bitcoin as of June 21, acquired for an aggregate $64.1 billion at an average price of $75,651. With the top crypto recently trading … Read more

Binance will be cut off from Europe on July 1 – Removes the “best liquidity in the world” says CZ

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Binance will be cut off from Europe on July 1 – Removes the “best liquidity in the world” says CZ
Binance is set to miss Europe’s July 1 MiCA authorization deadline, moving the bloc’s exchange-access fight from a policy countdown into a live test of where users, assets, and trading liquidity move next. The exchange has told European customers it will be unable to meet the authorization deadline, according to Binance Square social media posts … Read more

Crypto firms race to lock in CLARITY Act rules before the Senate window closes

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Crypto firms race to lock in CLARITY Act rules before the Senate window closes
Some of the largest US crypto companies and advocacy groups are escalating a coordinated lobbying campaign to secure a Senate vote on landmark digital-asset legislation before lawmakers leave Washington for their August recess. The industry’s push for the Digital Asset Market CLARITY Act comes as the Senate confronts a narrowing legislative calendar, and negotiations remain … Read more

Ripple got RLUSD into Japan, now the stablecoin race begins as Circle and Nomura join

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Ripple got RLUSD into Japan, now the stablecoin race begins as Circle and Nomura join
Ripple and SBI announced the official launch of RLUSD in Japan on June 24, following JFSA approval, with the stablecoin available to institutional and retail users through SBI VC Trade. Ripple categorized RLUSD under Japan’s Payment Services Act as a new type of electronic payment instrument for foreign-issued stablecoins, the first time the company has … Read more

Crypto lending turns to Wall Street credit rules to win back institutional trust after 2022 collapse

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Crypto lending turns to Wall Street credit rules to win back institutional trust after 2022 collapse
Celsius froze withdrawals in June 2022 before filing for Chapter 11 in July 2022, and Genesis froze redemptions after FTX’s collapse and filed for bankruptcy in January 2023, owing approximately $3.4 billion to its 50 largest creditors. BlockFi, Celsius, Genesis, and Voyager together accounted for 40% of the crypto lending market and 82% of CeFi … Read more

Solana hits $1B in weekly tokenized stock trading as demand for hard-to-access equities surge

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Solana hits $1B in weekly tokenized stock trading as demand for hard-to-access equities surge
Solana tokenized equities have crossed a threshold: more than $1 billion in reported weekly volume and a market that now behaves like a live crypto venue. Solana ecosystem messaging said tokenized equities on the network cleared more than $1 billion in weekly volume on June 20. Showcasing that equity-like tokens are now generating crypto-scale flow … Read more

Bitcoin’s $60K rebound just collapsed as $427M in long liquidations followed sticky inflation data

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Bitcoin’s $60K rebound just collapsed as $427M in long liquidations followed sticky inflation data
Bitcoin’s rebound above $60,000 just failed because the bundle of U.S. macro data released June 25 gave risk traders the opposite of clean relief: sticky inflation, firm demand, a stronger growth revision, fewer jobless claims, and resilient ex-transport orders. Bitcoin briefly flash-crashed in a liquidation-driven flush, falling from an intraday high near $61,844 to a … Read more

Russia creates crypto sanctions loophole, but cash-out routes remain ringfenced

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Russia creates crypto sanctions loophole, but cash-out routes remain ringfenced
Russia has turned crypto foreign-trade settlement into a live test of how far sanctions pressure can reach beyond banks. The Bank of Russia says selected exporters and importers may use cryptocurrencies for cross-border settlements under foreign-trade agreements, but only within an experimental legal regime. Moscow has created a state-backed corridor for selected trade payments while … Read more

Why Europe is struggling to give Binance the MiCA license it needs

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Why Europe is struggling to give Binance the MiCA license it needs
Binance withdrew its MiCA application in Greece after reported resistance and told users the absence of a formal decision before the transition deadline forced it to seek authorization elsewhere. Reports noted that talks with regulators in Ireland and Latvia had also encountered friction, though Binance maintains that Greece was its only formal application. ESMA has … Read more