Author: John Smith

Bitcoin miners have entered June with revenue above $1 billion for the first time in four months, but falling Bitcoin prices are already putting renewed pressure on mining economics. Summary Bitcoin miner revenue topped $1.08 billion in May, the highest level since January. Hashprice fell nearly 18% in a month as Bitcoin hovered near the $65,000 support zone. A projected 9% difficulty cut may ease pressure on miners if current conditions persist. According to data from Newhedge, miners generated $1.086 billion in revenue during May, the highest monthly total since January. Most of that income came from the 3.125 BTC…

Senator Cynthia Lummis has accused JPMorgan Chase CEO Jamie Dimon of misrepresenting the Clarity Act after his sharp attack on Coinbase CEO Brian Armstrong and on crypto market-structure legislation. Summary Cynthia Lummis criticized Jamie Dimon for his remarks about Coinbase CEO Brian Armstrong and the Clarity Act. Lummis said Dimon either had not read the bill or wanted to mislead people about its contents. Jamie Dimon argued that the Clarity Act lacks strong protections for stablecoins and crypto deposits. CNBC reported that Lummis, who chairs the Senate Banking Subcommittee on Digital Assets, pushed back during an interview after Dimon argued…

Winklevoss twins have transferred 1,000 Bitcoin worth about $67.5 million to a Gemini-linked hot wallet, drawing attention as Bitcoin trades near multi-month lows amid escalating market pressure. Summary Winklevoss twins moved 1,000 BTC worth $67.5 million to a Gemini-linked hot wallet, according to Arkham. The transfer follows roughly $130 million in Bitcoin movements by the Gemini founders in March. Bitcoin fell below $66,000 as U.S.-Iran tensions escalated, triggering over $1 billion in bullish BTC liquidations. According to on-chain data from Arkham Intelligence, wallets associated with Gemini co-founders Cameron and Tyler Winklevoss moved the Bitcoin from Gemini Custody to a hot…

It has been more than a year since President Trump signed the executive order establishing a Strategic Bitcoin Reserve on March 6, 2025, and the project is finally moving from rhetoric toward machinery.  Summary The U.S. already has a Strategic Bitcoin Reserve, but it mostly holds seized Bitcoin rather than newly purchased BTC. July matters because the White House blueprint and Congress could clarify whether the reserve can become an actual buying program. The BITCOIN Act pushes for aggressive accumulation, while ARMA favors a 20-year lockup and a more moderate path. The budget-neutral rule is the hidden constraint that could…

Binance has disclosed a minority stake in Alpaca as the crypto exchange expands into U.S. stock and ETF trading for eligible users outside the United States. Summary Binance disclosed a minority Alpaca stake as its U.S. stock trading service expands globally. The Alpaca deal gives Binance order flow and lending revenue tied to user stock trades. Alpaca controls about 94% of tokenized U.S. stock and ETF custody, according to prior data. Binance recently launched access to more than 7,000 U.S.-listed stocks and ETFs through its platform. The product allows fractional share purchases from $5 and supports 24-hour trading from Monday…

NewLimit, a longevity biotech startup co-founded by Coinbase CEO Brian Armstrong, has raised $435 million in Series C funding to move its first age-reprogramming medicine toward human trials. Summary NewLimit raised $435M to move its first age-reprogramming drug toward human trials next year. Founders Fund led the round, while Thrive, Greenoaks, Quiet Capital and Eli Lilly joined. Brian Armstrong’s biotech bet links AI, cell reprogramming and longevity medicine beyond Coinbase’s crypto business. NewLimit Secures $435M Series C NewLimit announced the funding round on June 2, saying Founders Fund led the raise. New investors Thrive Capital, Greenoaks and Quiet Capital joined…

UK Lords warn strict BoE stablecoin rules could make pound-backed tokens hard to scale, even as lawmakers back a clear UK regime. Summary UK Lords backed stablecoin rules but warned BoE holding caps could slow pound token adoption. BoE’s 40% unremunerated reserve plan drew concern over issuer viability and UK market competitiveness risks. Peers urged faster clarity as UK stablecoin rules continue trailing US and EU frameworks abroad. A House of Lords committee has warned that the Bank of England’s planned stablecoin rules may make a pound sterling token market commercially weak before it grows. The Financial Services Regulation Committee…

Brazil’s central bank has added mandatory independent audits to the licensing approval process for crypto service providers in the country. Summary Brazil’s central bank will require crypto service providers to submit independent audit reports when applying for or renewing licenses. The audits will review anti-money laundering controls, customer asset segregation, risk management systems, and employee compliance programs. The new rule could raise compliance costs for smaller crypto firms, while major exchanges may continue pursuing access to Brazil’s large market. According to the published rules cited in the report, crypto firms applying for authorization, or renewing an existing license, must submit…

Bitcoin has drawn a new valuation argument from Bitwise, as rising sovereign debt pressures keep bond markets under strain and strengthen the case for BTC as a macro hedge. Summary Bitwise said rising sovereign debt pressure could strengthen Bitcoin’s role as a hedge against macroeconomic risk. The OECD expects governments and companies to borrow about $29 trillion in 2026, as refinancing needs continue to rise. Bitwise cited Greg Foss’s model, which puts Bitcoin’s theoretical fair value at around $224,000 if adoption expands. Bitwise said in a new report that deeper investor concern over government debt could widen Bitcoin’s perceived undervaluation.…

Galaxy Digital has launched an institutional over-the-counter prediction-markets desk, opening the service with a $10 million event swap tied to the Digital Asset Market Clarity Act. Summary Galaxy launched an institutional OTC prediction-markets desk with a $10 million event swap with Arca. The first trade allows Arca to take a position on whether the CLARITY Act will pass before 2027. Galaxy said the desk will support large trades on Kalshi and Polymarket that public order books cannot absorb. Galaxy said Tuesday that the desk operates within its Global Markets unit and serves institutional clients seeking exposure to non-sports event contracts…