Cointelegraph.com News

Bitcoin drop to $58K brings out bears: Is BTC’s next stop below $50K?

Thu, 25 Jun 2026 18:05:06 GMT

Bitcoin’s crash to $58,000 confirmed a bear flag breakdown, setting a new price target of $54,000 or lower.

Bitcoin (BTC) dropped below $60,000, a key psychological support, on Thursday as losses in megacap technology stocks weighed on investors' broader risk appetite, adding pressure to an already fragile crypto market.

BTC/USD vs. Nasdaq and S&P 500 daily performance chart. Source: TradingView

The decline has triggered a classic bearish reversal setup that may push the BTC price under the $54,000 mark in the coming days.

XRP risks drop below $1, but onchain data highlights silver lining

Thu, 25 Jun 2026 17:11:33 GMT

XRP’s chance of a daily close below $1 are rising, but whale accumulation and shrinking exchange supply may be a sign that traders are buying.

XRP is trading just above $1, leaving the token at its weakest price level of the year, but onchain data paints a different picture.

The exchange-held XRP supply continues to fall, Binance withdrawals have exceeded deposits for seven straight days, whale flows are holding positive and spot XRP exchange-traded funds (ETFs) have attracted $243 million in inflows since April.

The improving onchain data points to healthy network positioning, even as XRP continues to search for a price bottom.

21shares trims 2026 crypto forecasts despite institutional adoption gains

Thu, 25 Jun 2026 17:00:58 GMT

Asset manager 21shares sees crypto infrastructure advancing faster than prices, as ETFs, stablecoins and prediction markets mature while several 2026 targets slip.

Asset manager 21shares has scaled back several of its bullish forecasts for the crypto industry this year, saying institutional adoption continues to strengthen even as weak market conditions and muted retail participation have slowed the pace of growth.

In its midyear outlook, the asset manager said the industry’s underlying infrastructure has advanced more quickly than prices. Areas such as exchange-traded funds (ETFs), stablecoin regulation, tokenization and prediction markets have continued to mature, but weaker crypto prices, major DeFi exploits and slower-than-expected enterprise adoption have pushed several of its 2026 targets out of reach.

One of the report’s clearest conclusions was that Bitcoin’s (BTC) four-year market cycle remains intact, despite signs the asset class is becoming more institutionally driven.

Kraken, Maple launch onchain warehouse facility for crypto-backed institutional loans

Thu, 25 Jun 2026 16:41:47 GMT

Kraken's new facility with Maple brings a traditional warehouse financing model onchain, allowing the exchange to expand its institutional crypto lending business using blockchain-based structured credit.

Crypto exchange Kraken and onchain asset manager Maple have launched an onchain warehouse financing facility for crypto-backed loans, applying a lending structure widely used in traditional credit markets to institutional digital asset lending.

According to Thursday's announcement, the facility will fund Kraken's OTC lending business using a bankruptcy-remote special purpose vehicle (SPV) and USDC-denominated financing.

Unlike traditional bilateral crypto loans, the facility is structured through the SPV, with Maple providing senior financing and Kraken retaining a stake in the transaction. The arrangement is intended to let Kraken expand its institutional lending business without tying up additional balance-sheet capital.

South Korean authorities fine Bithumb $136K over sharing user information overseas

Thu, 25 Jun 2026 16:13:43 GMT

The fine comes after an investigation concluded that Bithumb shared information with many overseas exchanges in violation of laws intended to protect user data.

South Korean cryptocurrency exchange Bithumb was order to pay a $136,000 fine after it was found to have breached personal information protections rules when it sent user data overseas.

In a Thursday notice, the country's Personal Information Protection Commission (PIPC) said that its investigation into Bithumb found that the exchange had “transferred personal information overseas without the separate consent of the data subjects during the process of order book sharing and virtual asset transfer with overseas virtual asset exchanges.”

The incident was connected to Bithumb sharing its Tether (USDT) order books between September and November 2025 with BingX, despite obtaining consent to share the data with Stellar, as well as sharing user information with 13 overseas exchanges.

Bitcoin drops to $58K on high US PCE inflation as trader sees 'manipulation'

Thu, 25 Jun 2026 15:34:45 GMT

Bitcoin fell to 21-month lows as stock market volatility accompanied three-year highs in US PCE inflation, leading to $600 million in hourly crypto liquidations.

Bitcoin (BTC) hit new 21-month lows at Thursday’s Wall Street open as high US inflation unsettled stock markets.

Key points:

Bitcoin returns to its lowest level since September 2024, dropping to $58,000.

Why Wall Street values some crypto firms for AI power, not just crypto

Thu, 25 Jun 2026 15:00:00 GMT

Galaxy Digital’s stock surge points to a new trend: Investors are rewarding some crypto firms for AI infrastructure, not just digital asset exposure.

Power over tokens: Why AI is changing crypto valuations

For a long time, the value of crypto companies was closely tied to traditional indicators such as trading volumes, digital asset holdings, mining income and assets under management.

Investors generally judged these firms by their exposure to Bitcoin, Ether and the broader growth of blockchain technology.

Story Protocol rebrands to DATA Foundation in AI pivot

Thu, 25 Jun 2026 15:00:00 GMT

Story Protocol is now the DATA Foundation as it aims to provide licensable data to AI firms that have “run out of internet to scrape.”

Story Protocol, a layer-1 blockchain built around intellectual property licensing, is pivoting to artificial intelligence as it rebrands as the DATA Foundation.

The company said Thursday that it will focus on building “essential infrastructure for training AI,” which it called “the most valuable and least solved category of IP.”

“Frontier AI labs have hit a multi-billion-dollar data bottleneck, where the internet has been effectively exhausted for scraping,” the company said. “The remaining supply is either expensive and bespoke or legally undocumented, leaving labs without a way to source data at scale, prove its provenance, or guarantee its quality.”

Here’s what happened in crypto today

Thu, 25 Jun 2026 13:19:46 GMT

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, Web3 and crypto regulation.

Today in crypto, Japan's SBI holdings signed a $289 million deal to acquire cryptocurrency exchange Bitbank, DeFi platform Abracadabra took emergency action after its Magic Internet Money depegged 50%, while US President Donald Trump postponed signing a housing bill that includes a ban on central bank digital currencies (CBDCs).

SBI to acquire Bitbank in $289M deal

SBI Holdings has signed agreements to acquire full control of crypto exchange Bitbank through a 46.7 billion Japanese yen ($289 million) transaction, advancing a deal first disclosed in May that would create the country's biggest crypto exchange.

SBI to acquire Bitbank in $289M deal creating Japan's biggest crypto exchange

Thu, 25 Jun 2026 13:08:11 GMT

The Japanese financial conglomerate plans to take full control of Bitbank as it expands an ecosystem spanning crypto trading, stablecoins, tokenization and blockchain infrastructure.

Japan’s SBI Holdings has signed agreements to acquire full control of crypto exchange Bitbank through a 46.7 billion Japanese yen ($289 million) transaction, advancing a deal first disclosed in May that would create the country's biggest crypto exchange.

On Thursday, SBI said that its wholly owned subsidiary SBICAH will acquire shares from Bitbank CEO Noriyuki Hirosue and other shareholders before subscribing to a third-party share allotment. The exchange will then buy back shares held by MIXI and Ceres, leaving SBI with 100% indirect ownership. SBI expects the transaction to close around October, subject to regulatory clearance.

The acquisition would expand SBI’s regulated crypto exchange footprint and customer base, giving it another potential distribution channel for the stablecoins, tokenized assets and onchain financial products.

About 60% of World Cup bettors on Polymarket are first-time crypto users

Thu, 25 Jun 2026 13:00:00 GMT

Polymarket emerged as an onboarding layer for about 60% of World Cup bettors, who interacted with the blockchain for the first time during their prediction market entry.

About 60% of users who placed their first World Cup bets on Polymarket had never interacted with blockchain protocols before, suggesting prediction markets are becoming an entry point into crypto.

The finding is based on a 90-day Bitget Wallet study shared with Cointelegraph on Thursday that tracked the onchain activity of 857,000 active Polymarket users.

Bitget Wallet said the findings suggest some users are entering crypto through prediction markets instead of beginning with token trading or DeFi protocols.

Spark migrates $150M in stablecoin to Uniswap to advance shared liquidity

Thu, 25 Jun 2026 13:00:00 GMT

Spark deployed approximately $150 million across two Uniswap v4 pools on Ethereum, while its DualPool hook and Shared Liquidity Layer are planned for later phases.

Decentralized finance (DeFi) protocol Spark has deployed approximately $150 million in stablecoin liquidity across two Uniswap v4 pools on Ethereum as part of a collaboration aimed at creating shared liquidity and exchange infrastructure for stablecoin issuers.

A Spark spokesperson told Cointelegraph that the initial deployment is live in two pools pairing USDS with PayPal USD (PYUSD) and USDT, with USDS serving as the foundation. Spark described the deployment as one of the largest automated market maker (AMM) liquidity migrations in DeFi.

“These pools represent the initial deployment of approximately $150 million of liquidity and establish the first phase of the Stablecoin FX Layer,” the spokesperson said. “This initial deployment focuses on bootstrapping shared liquidity on Uniswap v4.”

Binance faces EU service limits next week as MiCA rules take effect

Thu, 25 Jun 2026 12:21:00 GMT

Binance will limit EU onboarding and services from July 1 under MiCA rules after failing to gain authorization from a member state, while withdrawals remain available for users.

Binance has notified European Union users that access to key services will be restricted after the exchange failed to secure Markets in Crypto-Assets (MiCA) authorization from a member state before a July 1 deadline.

Those restrictions include halting the onboarding of new EU users and limiting certain services for EU-based accounts effective July 1, according to exchange notices shared by users on social media.

The notices said users will still be able to withdraw their assets after that date, stating that “all digital assets are still available for withdrawal,” in line with applicable regulatory requirements.

Circle, Nomura eye Japan corporate FX with stablecoin settlement: Report

Thu, 25 Jun 2026 11:42:52 GMT

Circle and Nomura are reportedly partnering to enable stablecoin-based foreign exchange settlement for Japanese companies as the country's regulated blockchain-based financial infrastructure expands.

Stablecoin issuer Circle and Japan's largest investment bank Nomura have reportedly partnered to enable instant foreign exchange settlement for Japanese companies as early as 2027.

The service would enable companies to convert yen into dollar-denominated stablecoins for cross-border transactions and instant settlement, reducing delays caused by banking hours and time zone differences, Nikkei reported on Thursday.

The partnership would bring one of the world's largest dollar stablecoins into Japan's corporate foreign exchange market, expanding the use of stablecoins for business-to-business cross-border settlement.

Iran-linked entities moved $3.8B through CoinEx, TRM says

Thu, 25 Jun 2026 09:44:14 GMT

TRM Labs traced $3.8 billion moved by 60 sanctioned Iranian entities through CoinEx and said that the exchange’s 8% share of illicit transactions was substantially higher than its counterparts.

Wallets with identifiable links to sanctioned Iranian entities have moved over $3.84 billion through cryptocurrency exchange CoinEx since 2019, making it one of the main channels used to bypass US economic sanctions, according to blockchain analytics company TRM Labs.

About 60 Iranian platforms were tied to the funds, with $2.7 billion of this flowing between CoinEx and Nobitex, Iran’s largest domestic cryptocurrency exchange, at an average rate of about $1 million per day since 2018, wrote TRM Labs in a Wednesday report.

By 2024, CoinEx was Nobitex’s largest external counterpart, nearly nine times that of the next-largest exchange, a pattern that TRM Labs called “inconsistent with independent market behaviour.”

Indonesia sets certification rules for influencers recommending crypto

Thu, 25 Jun 2026 08:44:15 GMT

Indonesia’s financial regulator will require influencers recommending crypto and other digital assets to hold relevant certifications as regulators worldwide tighten oversight of finfluencers.

Indonesia’s financial regulator has introduced certification requirements for influencers who recommend crypto and other digital financial assets, as the country expands oversight of financial promotions on social media.

Under Financial Services Authority Regulation No. 6 of 2026, announced Wednesday, individuals recommending digital assets must obtain competency certifications unless they are already subject to a separate licensing requirement.

Influencers may recommend only digital assets listed on authorized exchanges, while any service provider they recommend must also be licensed. Marketing campaigns must be conducted through regulated financial services businesses, which are responsible for the promotional content, and distributed through their official communication channels.

Polish crypto exchange Kanga secures MiCA license in Latvia

Thu, 25 Jun 2026 08:24:41 GMT

Poland-founded crypto exchange Kanga has secured a Class 3 MiCA license in Latvia, enabling EU-wide crypto services as Polish lawmakers debate framework's implementation.

Kanga, a crypto exchange founded in Poland, said it has obtained a Markets in Crypto-Assets Regulation (MiCA) license in Latvia, allowing it to provide services across the European Union in accordance with the cross-border notification procedure under the framework.

SIA AlphaRoute, operating under the Kanga Exchange EU brand, received a Class 3 MiCA license from the Bank of Latvia after its Supervisory Committee approved the authorization, according to a Wednesday statement shared with Cointelegraph.

The license was granted on June 18 and authorizes the company to provide services, including crypto custody, trading and transfers, across the EU, said the exchange.

US arbitration giant rolls out ‘legal layer’ for agentic commerce

Thu, 25 Jun 2026 06:26:29 GMT

As agentic AI transactions increase, “we need to know there’s a clear answer to what happens if something goes wrong,” said Mance Harmon, co-founder of Hedera.

The American Arbitration Association and a broad coalition of tech, crypto, and enterprise companies have launched the Legal Context Protocol, an open standard designed to add a legal layer to agentic AI transactions.

The not-for-profit American Arbitration Association (AAA) announced LCP with Integra Ledger on Wednesday, aimed at addressing legal issues that could arise during agent-to-agent transactions.

“The legal infrastructure that has supported e-commerce over the last 20 years… like click-throughs and terms of service — none of that translates... when agents are negotiating with other agents," said Bridget McCormack, the president and CEO of AAA, when talking about the protocol during a podcast in May. "There had to be some understanding about how legal context attaches to agentic transactions."

House Democrats seek SEC answers on AI investment advisers

Thu, 25 Jun 2026 05:47:21 GMT

House Democrats have questioned the SEC over trading platforms offering AI agent advisers making “consequential investment decisions on behalf of retail investors.”

A group of Democratic US House lawmakers is questioning the US securities regulator over how it is overseeing investment advice and trading powered by artificial intelligence.

In a letter to SEC Chair Paul Atkins dated Tuesday, the lawmakers said that platforms offering AI trading agents to retail traders “raises serious questions for investor protection, broker-dealer responsibilities, market integrity, and the accountability of AI developers.”

“While such trading may initially be limited in scope, there are indications that agentic trading could expand to a broad range of additional products, including options, cryptocurrency, event contracts, and futures,” the lawmakers wrote.

Abracadabra takes emergency action as MIM stablecoin depeg worsens

Thu, 25 Jun 2026 03:22:05 GMT

The protocol is raising interest rates across all Cauldrons to encourage debt repayment and reduce supply.

Decentralized finance platform Abracadabra said Wednesday that it launched emergency measures after its crypto-collateralized stablecoin, Magic Internet Money (MIM), fell 50% below its $1 peg.

“We’re acutely aware of the MIM depeg and are taking emergency actions to remedy the situation,” the team said on Wednesday.

It said effective immediately, it will begin gradually “increasing interest rates across all Cauldrons, including deprecated markets, to encourage debt repayment and reduce the outstanding MIM supply.”

Kalshi seeks funding at $40B valuation, nearly doubling last raise: FT

Thu, 25 Jun 2026 02:23:39 GMT

Kalshi is reportedly in talks to raise new capital at a $40 billion valuation, reflecting growing investor confidence in regulated prediction markets.

US-based prediction market platform Kalshi is reportedly in talks to raise funds at a $40 billion valuation, nearly doubling its $22 billion valuation in May.

The company could close the new funding round as soon as the third quarter of this year, the Financial Times reported on Wednesday, citing people familiar with the matter.

Kalshi closed a $1 billion Series F in May, led by Coatue Management, with participation from Andreessen Horowitz, Sequoia Capital, Morgan Stanley and Ark Invest. Its $22 billion valuation at the time was double the company’s $11 billion valuation in December and more than four times its $5 billion valuation in October.

HYPE down 22% from record highs: Will spot demand revive the uptrend?

Wed, 24 Jun 2026 22:08:25 GMT

HYPE price drops near a key support zone where fading selling pressure collides with shrinking futures market activity. Will the altcoin resume its uptrend above $60?

Hyperliquid's HYPE token is down 22% from its $75 all-time high, bringing its 2026 uptrend to a key test of support. Market participation has cooled across the derivatives markets, while the spot flows show early signs of stabilization after strong selling pressure in early June.

The $50-$54 area now stands out as the most important support zone beneath current prices and the first major trend test since January.

Spot selling begins to ease for HYPE

FTX exec’s wife scheduled for November trial on campaign finance charges

Wed, 24 Jun 2026 21:07:03 GMT

A Manhattan judge ordered that Michelle Bond’s criminal trial start in November after he denied a motion to dismiss the indictment based on claims that prosecutors misled her husband over her charges.

Michelle Bond, the wife of former FTX Digital Markets co-CEO Ryan Salame, who is serving a 7.5-year prison sentence after reaching a plea agreement with prosecutors, is scheduled to stand trial in November following delays stemming from motions related to her husband's plea deal.

On Wednesday, Judge George Daniels in the US District Court for the Southern District of New York ordered a trial start date of Nov. 9 for Bond, who faces four charges related to campaign finance law violations. The proceedings came a week after the judge denied Bond's motion to dismiss the indictment, based on claims that prosecutors had promised Salame she would not be charged if she pleaded guilty.

Bond’s case is one of the final criminal proceedings related to the collapse of cryptocurrency exchange FTX, which filed for bankruptcy in 2022. The event led to criminal charges for Salame and other executives, including former CEO Sam “SBF” Bankman-Fried and former Alameda Research CEO Caroline Ellison.

Bitcoin nearly loses $59K as DXY surges: Are traders bracing for more pain?

Wed, 24 Jun 2026 20:58:28 GMT

Bitcoin drops toward new 2026 lows as spot BTC ETF outflows and slowing accumulation from Strategy weigh on market sentiment.

Key takeaways:

Cooling oil prices and a multi-month high for the US dollar are keeping intense pressure on non yield-bearing assets.

Spot Bitcoin ETF outflows paired with Strategy's slowest buying pace in 18 months signal short-term downside risks.

Kalshi sues Illinois officials over prediction markets restrictions

Wed, 24 Jun 2026 19:34:48 GMT

The prediction markets company claimed that it would be “irreparably harmed” when an Illinois law signed as part of a budget package goes in effect on July 1.

Prediction markets company Kalshi has filed a lawsuit against state officials in Illinois over legislation it says “expressly bans sports event contracts” on its platform.

In a Tuesday filing in the US District Court for the Northern District of Illinois, Kalshi alleged that Illinois Governor JB Pritzker, Attorney General Kwame Raoul, and other officials on the state’s gaming board “usurped” the authority of the US Commodity Futures Trading Commission (CFTC) over prediction markets.

Specifically, the company alleged that legislation signed into law last week in Illinois, requiring prediction market platforms to be licensed in the state to offer sports event contracts, violated federal law. Kalshi claimed that it would be “irreparably harmed” when the law, Illinois Senate Bill 3019, takes effect on July 1.

Crypto-backed candidates notch wins in three US state primaries

Wed, 24 Jun 2026 17:34:57 GMT

The crypto-aligned Fairshake PAC and its affiliates spent a combined $8 million on media to support candidates in Maryland, New York and Utah amid pushback from many criticizing “crypto billionaires.”

Several Democrats and one Republican who were supported by more than $8 million worth of ads funded by cryptocurrency-aligned political action committees (PACs) won their respective US primaries on Tuesday, setting up their candidacies for the November election.

Party primaries for US House of Representatives and Senate candidates in Utah, Maryland and New York resulted in wins for many aligned with crypto industry interests. PACs like Fairshake and its affiliates, largely backed by crypto companies Coinbase and Ripple Labs, spent a combined $8 million on media to support the candidates it considered likely in favor of digital asset policies for the next session of Congress.

In New York, Democrat Ritchie Torres won a primary for the state’s 15th congressional district with 71.9% of the vote, while in Utah, Republican Blake Moore won in the 2nd district with 57.5% of the vote. Fairshake affiliate Protect Progress reported $5.5 million in expenditures to support Adrian Boafo, who won the Democratic primary for Maryland’s 5th district with 32% against other candidates who opposed “spending from crypto billionaires.”

Bitcoin falls under $60K, but traders anticipate 15% bounce

Wed, 24 Jun 2026 17:06:46 GMT

Bitcoin price dropped below $60,000 for the first time in weeks, but data shows traders betting on a relief bounce.

Bitcoin (BTC) hit new two-week lows at Wednesday’s Wall Street open as traders predicted a rally to a "poor" lower high.

Key points:

Bitcoin price action edges closer to range lows, which traders still see holding.

Bitcoin crash to $60K opens new $530M demand zone: Will bulls buy in?

Wed, 24 Jun 2026 16:21:52 GMT

A $525 million Bitcoin buy wall intersects with a major liquidation zone, creating a key battleground between $60,500 and $65,000.

Bitcoin (BTC) has fallen 3% over the past 24 hours, trading into a dense buy-side liquidity zone after slipping below $61,000. More than $525 million in buy bids initially stacked between $60,500 and $61,500 created a key area of demand as liquidation risk builds on both sides of the market.

BTC's orderbook data shows concentrated liquidity pockets below $60,500 and near $65,000, placing liquidity flows at the center of Bitcoin's short-term price action.

Bitcoin momentum weakens below $63,000

Credit unions managing $25B in assets join stablecoin infrastructure program

Wed, 24 Jun 2026 15:49:54 GMT

A new pilot from Stablecore, Circuit and Curql gives participating US credit unions access to test stablecoin payments and other digital asset services.

Stablecore, a digital asset infrastructure provider for financial institutions, has launched an early-access program for US credit unions, a move aimed at helping smaller lenders evaluate stablecoins and other blockchain-based financial services before broader adoption.

The program announced on Wednesday is in collaboration with Circuit, a credit union service organization (CUSO) focused on research and development, and Curql, a fintech investment collective representing more than 160 credit unions.

The initiative allows participating credit unions to test stablecoin and digital asset services, including stablecoin payments, tokenized deposits, Bitcoin (BTC), crypto on- and off-ramps and staking capabilities, before deciding whether to integrate them into their existing banking platforms.

Binance withdraws Greece-filed MiCA application

Wed, 24 Jun 2026 15:47:05 GMT

Binance said it plans to seek authorization in another EU jurisdiction just days ahead of the July 1 MiCA deadline, as unlicensed crypto firms are expected to wind down activities in the bloc.

[Update 14:47 UTC, June 24: Updates with comments from Binance beginning in first paragraph.]

Crypto exchange Binance is withdrawing its MiCA application with Greece's Hellenic Capital Market Commission (HCMC) and intends to pursue authorization in another member state just days before the deadline for EU licensing.

“When we are ready to announce that Member State, we will do so publicly,” the company said in a statement on Wednesday.