Yields for five-year US Treasury bonds are up 4%, putting a damper on Bitcoin price, which has ended the month much where it started. This month, Bitcoin’s hashrate fell 6% after the US and Israel attacked Iran, highlighting Iran’s significant crypto mining activity. Bitcoin price, meanwhile, remains lackluster. Higher 4% yields on US Treasury bonds have added pressure, and investors are seeking less risky prospects amid geopolitical tension. Less appetite for crypto trading has proven problematic for Robinhood. The trading platform’s stock is down 16% on the month, and leadership has announced a stock buyback program. Read more
Digital asset products saw $414 million in outflows last week as inflation fears, US Fed rate hike expectations and Middle East tensions drove a shift toward risk-off sentiment. Crypto investment products saw their first weekly outflows in five weeks last week, with $414 million exiting the market as investors grew cautious over rising inflation risks and escalating tensions in the Middle East. The pullback came as expectations for the June Federal Open Market Committee (FOMC) meeting in the US shifted from potential rate cuts to rate hikes, signaling a tougher macro backdrop for risk assets, CoinShares reported Monday. Total assets under management fell to $129 billion, returning to levels last seen in early February and “broadly comparable to April 2025, during the initial phase of Trump’s tariffs,” CoinShares head of research James Butterfill said. Read more
As the war in Iran threatens to imperil United States President Donald Trump’s legacy, the political stakes also are rising for two of his top lieutenants: Vice President JD Vance and Secretary of State Marco Rubio. The pair, widely viewed as potential successors to Trump, have been thrust into still-developing negotiations to end the war at a moment when the Republican Party is already weighing its post-Trump future. Vance has taken a cautious approach, reflecting his scepticism toward prolonged US military involvement, while Rubio has aligned himself closely with Trump’s hawkish stance and emerged as one of the administration’s most vocal defenders of the campaign. Trump has said both men were involved in efforts to force Iran to accept US demands to dismantle its nuclear and ballistic missile programmes and allow oil traffic to pass freely through the Strait of Hormuz. With the next presidential election due in 2028 and term limits barring Trump from running again, the president has been putting the succes...