Crypto

BitMine is borrowing from Strategy’s Bitcoin playbook, debuting its own preferred share in an upsized offering to raise funds to buy Ethereum.

Strategy’s Bitcoin sale challenged the “never sell” narrative, while JPMorgan attacked CLARITY and Capital B pursued a huge fundraising plan for BTC. Strategy’s sale of 32 Bitcoin shouldn’t have mattered. The company still holds hundreds of thousands of BTC, and the transaction barely moved the needle on its balance sheet. Yet the market reaction was swift, exposing how much of the Bitcoin treasury trade had been built on a simple assumption: companies buy Bitcoin… and they never sell it. Elsewhere in crypto this week, JPMorgan CEO Jamie Dimon escalated his fight against the industry’s preferred market structure bill and a French Bitcoin treasury company pushed the limits of capital formation by asking shareholders to approve a massive $122 billion fundraising mandate. Michael Saylor’s Strategy rattled the market after disclosing the sale of 32 Bitcoin — its first reported BTC liquidation outside a 2022 tax-related transaction.  Read more

The tokenization specialist behind BlackRock's BUIDL fund could begin trading on the NYSE as SEC approves merger registration.

The next key upgrade is set to be finalized by June 18.

Pump.fun launched a new bounty platform where users started funding bizarre memecoin marketing stunts, including forehead tattoos, skydiving as a mascot and setting a vehicle on fire. Solana-based memecoin launchpad Pump.fun introduced a new open bounty platform where users have posted crypto rewards for bizarre promotional tasks, such as tattooing the ticker symbols of memecoins, quitting their current job live on camera or skydiving into a World Cup match. Pump.fun introduced the new platform on Thursday, positioning it as an open marketplace to “complete bounties for ANY task and leverage the power of humans & money across the globe.” The submissions are reviewed by Pump.fun while funds are in escrow. If accepted, the bounty is paid out to the submitter. Pump.fun said that bounties that “may be deemed as spam by X are not allowed” in its Terms and Conditions document. Read more

BTC's price dropped below $60K for the first time in almost two years.

Bitcoin has now fallen more than 50% from its October peak, dipping below $60,000 as the crypto industry reckons with the Zcash vulnerability.

Michael Saylor’s essay calls for Bitcoin to expand through banks, credit, securities and higher layers while preserving its base layer. Strategy co-founder and executive chairman Michael Saylor said Bitcoin needs “disciplined expansion” through banks, companies, securities, credit and capital markets, laying out a path for the asset as spot exchange-traded fund (ETF) outflows and a broader market sell-off test institutional demand. On Friday, Saylor published an essay, saying Bitcoin’s base layer should be treated as “sacred infrastructure,” with most innovation occurring through higher layers, applications, custody systems, credit instruments and financial infrastructure. The comments frame Bitcoin’s next phase as a clash between two institutional channels: passive spot ETF exposure, which has broadened access but remains sensitive to redemptions, and the corporate and credit-market adoption model favored by Saylor’s Strategy. Read more

Dogecoin and Shiba Inu led losses among major tokens as heavy volume and liquidations overwhelmed support levels, extending a broader risk-off move across crypto markets.

Bitcoin traders have identified Michael Saylor as a new suspect in the latest sell-off, while the numbers tell a different story. Strategy disclosed in a June 1 Form 8-K that it sold just 32 BTC between May 26 and May 31 for $2.5 million, at an average net price of $77,135, with proceeds earmarked to […] The post Bitcoin traders blamed Saylor’s 32 BTC sale but larger selling pressure built elsewhere appeared first on CryptoSlate.

Rep. Brad Sherman warned that allowing government payments in stablecoins would "sanctify an alternative to the U.S. dollar."

Seven draft bills are being circulated by the House Ways and Means Committee ahead of a hearing next week, including proposals to ease small-gain, mining and staking burdens.

Cypherpunk Technologies shares tumbled to their lowest point since March as jitters tied to a Zcash bug knocked the Winklevoss-backed firm.

The May payrolls beat was hawkish enough to pressure crypto, while government hiring and cooler yearly wage growth keep the second interpretation from being one-way. The post Bitcoin price craters to $60,000 as BTC bulls get jobs report they were hoping to avoid appeared first on CryptoSlate.

Bitcoin sellers were losing steam, market analysis said as ongoing BTC price downside brought the market closer to $60,000. Bitcoin (BTC) extended losses after Friday’s Wall Street open as traders prepared for a retest of $60,000. Key points: Read more

XRP opens June with its most significant decline of the past 3 months. The $1.20 support band, which served as the absolute floor for months, is being breached, with the price now trading at $1.11. The RSI is also printing its lowest reading since February’s capitulation, and the next meaningful support is nearly $0.30 lower. […]

The Maryland Democrat says bipartisan crypto legislation is close, but ethics and illicit finance concerns remain unresolved.

Several headwinds converged over bitcoin recently as its largest buyer turned seller, ETF investors headed for the exits, and rate-hike fears rose.

The pool closed with over $25M in four-month volume and had already hit double-digit fixed XRP rates by May, as seen on historical charts.

XRP lost another 5% after a high-volume breakdown overwhelmed support near $1.20, leaving traders focused on whether the latest washout marks capitulation or the start of a deeper slide.