Crypto Industry News & Market Trends

Ripple, Coinbase among top donors in crypto's $189 million election spending: report

Quick TakeCrypto companies have contributed $189 million so far in the 2026 midterms cycle, according to a Public Citizen analysis of FEC data.　　Crypto companies have contributed $189 million so far to influence the 2026 U.S. midterm elections, accounting for 37% of the $517 million disclosed in corporate political spending this cycle, according to Public Citizen.　　Entities associated with Gemini and its founders Tyler and Cameron Winklevoss added another $25.7 million, bringing spending by those four crypto groups to roughly $149 million, according to the report, which analyzed Federal Election Commission disclosures and OpenSecrets data.　　The report also suggested that the biggest beneficiaries of cryptos corporate spending are Fairshake, a sector-focused super PAC, and MAGA Inc., the Trump-backing super PAC. Fairshake received $82.6 million in crypto-related contributions, while MAGA Inc. received $56.2 million.　　Cantor Fitzgerald-backed Fellowship PAC also accounted for another crypto-focused political vehicle, receiving $10 million from the Wall Street firm, which serves as Tethers banking partner.　　Crypto spends more than AI, Big Tech sectors　　The report found that artificial intelligence and Big Tech companies contributed $60 million during the cycle, with $50.1 million directed to the AI-focused Leading the Future PAC. Online betting companies also spent $45.6 million, including $43 million that flowed to

07-01Industry

Nearly 1,700 UK investors sue Binance, founder CZ over alleged unauthorized derivatives sales

Quick TakeNearly 1,700 UK investors sued Binance and Changpeng Zhao in Londons High Court over crypto derivatives sold without regulatory approval since 2019.The claim lists a recovery threshold of just £200,000 ($264,900), while KP Law reportedly said the total its pursuing tops £150 million ($200 million).　　Nearly 1,700 UK investors filed a group lawsuit against Binance, its founder Changpeng CZ Zhao, and Abu Dhabi-based Nest Exchange in Londons High Court on June 29, alleging the exchange sold unauthorized crypto derivatives to retail traders for years without regulatory approval.　　The claim form, filed by KP Law on behalf of 1,692 claimants led by Tomas Sutas, alleges the defendants promoted and sold leveraged tokens, cryptocurrency futures, options, and margin trading products to UK consumers from around Sept. 13, 2019, in breach of the UKs Financial Services and Markets Act.　　The filing argues that the sales violated the acts general prohibition on carrying out regulated activity without authorization, and that the promotion of the products separately breached the acts rules on unauthorized financial promotions.　　Claimants are seeking recovery of money and property paid, plus compensation for losses and interest under the Senior Courts Act 1981.　　The suit also names CZ and Binance Holdings as accessories, arguing they acted

07-01Industry

Bitcoins quiet $59,000-$60,000 range is starting to look dangerous

The token has traded in a tight band near $59,000 to $60,000 all week. The pattern echoes a calm stretch from 2024, but this one is forming below support in a falling market, and a break could open the way toward $40,000.Bitcoin has traded in a tight range around $59,000 to $60,000 for five days, a pattern analysts say is risky because it is occurring below key support levels and downward-sloping 50- and 200-day moving averages.Some analysts warn that if this consolidation breaks lower, bitcoin could slide toward $40,000.Market sentiment is being pressured by Strategys plan to potentially sell more than $1 billion of its bitcoin reserves, a stronger dollar, and a rotation of capital into U.S. stocks on optimism over AI spending.　　Bitcoin BTC　　$59,073.22 is trading in a narrow range between $59,000 and $60,000 for the fifth straight day, a quiet stretch that some analysts warn is more dangerous than it looks because of where it is happening.　　The range itself is normal. Bitcoin spent much of 2024, from March to October, consolidating between $55,000 and $70,000 with occasional overshoots in both directions. What makes the current setup riskier is its location, said Alex Kuptsikevich, chief market analyst at FxPro, in

06-30Industry

Kalshi hit with 14-day restraining order in Michigan, blocking sports prediction markets in state

Quick TakeA Michigan judge issued a temporary restraining order against Kalshi, blocking the platform from offering sports-related event contracts in the state.Jurisdiction over prediction market platforms is an ongoing dispute between the CFTC and multiple state regulators.　　The state of Michigan issued a temporary restraining order on Kalshi, barring the prediction market platform from offering sports-related event contracts in the U.S. state.　　Ingham County Circuit Court Judge Rosemarie E. Aquilina issued the order on Monday, according to a statement from Attorney General Dana Nessel. The temporary restraining order lasts for 14 days, meaning that it will remain in effect until July 13.　　The order also stipulates that the court would fine Kalshi $120,000 for each day it does not comply with the geo-fencing requirements it imposes.　　“Our gambling laws exist to protect Michiganders from unlicensed, predatory operations, and failing to comply with them carries serious legal consequences,” Nessel said in the statement.　　The restraining order comes after the Western District of Michigan court granted Nessels motion to remand the states lawsuit against Kalshi back to the state court. Kalshi had attempted to remove the case to the federal level.　　Michigan authorities filed a lawsuit against Kalshi in March, claiming that the federally regulated prediction market platform

06-30Industry

Benchmark sees over 500% upside in Strategy, reiterates $570 target on new capital framework

Quick TakeBenchmark reiterated its Buy rating and $570 price target on Strategy, citing the companys new Digital Credit Capital Framework.　　Benchmark Equity Research reiterated its Buy rating and $570 price target on Strategy after the company introduced a five-component capital framework that expands its ability to repurchase securities, monetize bitcoin holdings, and manage capital deployment during periods of market stress.　　Strategy shares closed up 12.6% at $92.68 on Monday, according to The Blocks MSTR price page. Benchmarks $570 target implies approximately 515% upside from that closing price.　　Mondays gain followed Strategys announcement of its new Digital Credit Capital Framework. The initiative includes a $2.55 billion reserve representing 17.4 months of dividend coverage, a $1 billion common stock repurchase program, a $1 billion preferred share buyback plan across its STRC, STRF, STRD and STRK issues, and board authorization to sell up to $1.25 billion in bitcoin from its 847,363 BTC treasury.　　In a note to clients, Benchmark analyst Mark Palmer said the framework formally grants management permission to run Strategys capital machine in “reverse” when market conditions demand it. That includes repurchasing common and perpetual preferred shares, monetizing bitcoin holdings to meet obligations, and pausing common issuance when the shares no longer trade at a

06-30Industry

Bitcoin ETFs Lose $696 Million as Blackrock and Fidelity Lead Broad Crypto Selloff

Crypto ETF flows deteriorated sharply on Thursday, June 25, as bitcoin ETFs posted a sixth straight day of outflows, with redemptions reaching $696 million. Ether funds also saw heavy exits, while HYPE and solana ETFs joined the selloff.　　Key TakeawaysBitcoin ETFs lost $696.29M on June 25, with Fidelity and Blackrock leading outflows.Ether, HYPE, and solana ETFs also turned negative, signaling broader risk-off sentiment.Morgan Stanleys MSBT added $9.17M, but ETF demand remains weak across crypto markets.　　HYPE ETFs Turn Negative After Weeks of Inflows as Crypto Selloff Widens　　The pressure that had been building all week finally broke into a wider rout.　　Bitcoin ETFs suffered their largest daily outflow of the week, pushing total weekly redemptions to about $1.35 billion. What began as a steady withdrawal from major funds has now become a broader retreat, with selling spread across nearly the entire bitcoin ETF complex.　　Bitcoin ETFs Face Broad-Based Selling　　Bitcoin ETFs recorded $696.29 million in net outflows, marking the categorys sixth consecutive day in negative territory. The exits were spread across eight funds.　　Fidelity‘s FBTC led the losses with a $274.48 million outflow, narrowly ahead of Blackrock’s IBIT, which lost $265.68 million. Ark & 21Shares‘ ARKB saw $82.11 million leave, while Invesco’s BTCO posted a $53.03 million

06-26Industry

Gomining Mines First Live Stratum V2 Bitcoin Block, Shifting Control to Miners

Digital mining firm Gomining said it mined the first live Bitcoin block using the Stratum V2 protocol via the DMND mining pool.　　Key TakeawaysGomining mined the first live Bitcoin block via DMND pool, letting miners pick transactions.Gomining bypassed centralized pool operators for over a decade of tradition by constructing its own template.Advocates expect this production milestone to drive global adoption of Stratum V2 across mining networks.　　A Milestone for Miner Autonomy　　Digital mining firm Gomining revealed Thursday, June 25, that it successfully mined the first known live Bitcoin block utilizing the Stratum V2 protocol. The block was produced in a live production environment using the DMND bitcoin mining pool. The achievement demonstrates a functional blueprint for miner-controlled block creation, a structural shift away from the centralized transaction selection models that have long dominated the cryptocurrency mining sector.　　For more than a decade, mining pools have held primary control over which transactions are included in Bitcoin blocks. Gomining bypassed this dynamic by leveraging Stratum V2s job declaration functionality via the DMND pool, according to a media statement. This allowed the company to locally construct and declare its own block template rather than relying on a pool operator to select transactions.　　“This block demonstrates that miners can

06-26Industry

Ethereum (ETH) Price Prediction: ETH Holds $2K as Bulls Eye Recovery Towards $2,570

Ethereum price is still fighting to hold one of its most important short-term zones as the market remains split between bearish pressure and early recovery signals. ETH is trading near the $2,024 level, with price moving mostly sideways after another volatile session around the $2,000 region.　　Ethereum Price Holds Above $2,000, But Momentum Looks Weak　　Ethereum price is still holding above the $2,000 level, but the structure does not look fully convincing yet. The latest price action shows ETH recovering from intraday weakness, but the market has not produced a strong breakout that would confirm a clean trend reversal.　　Ted noted that ETH Ethereum price is holding above $2,000, but warned that spot demand is fading, ETFs are selling, and every small pump is getting retraced. His chart suggests that unless Ethereum can regain stronger momentum above the $2,050 region, the risk of another correction remains active.　　This makes the $2,000–$2,050 area very important. If buyers continue defending this zone, ETH can still attempt a short-term recovery. But if the market keeps rejecting below nearby resistance, traders may continue treating the bounce as weak rather than a confirmed reversal.　　ETH/BTC Reaches a High-Timeframe Support Zone　　Another important signal comes from the ETH/BTC chart. Ethereum has been

05-31Ethereum

Ethereum (ETH) Price Prediction: ETH Holds $2K as Bulls Eye Recovery Towards $2,570

05-31Industry

Wall Street’s trillion-dollar dilemma: Why AI-powered hackers are keeping big banks off the blockchain

Traditional financial institutions are preparing to move trillions of dollars of assets onchain, but the risk of hacks and exploits is putting them off, according to blockchain security firm CertiKs CEO Ronghui Gu.　　“Right now, more and more institutions are trying to move assets onchain,” Gu told CoinDesk in an interview. “They imagine that, lets say in 10 years, multiple trillion dollars — even tens of trillions of dollars — of assets are going to move onchain.”　　The potentially massive migration of financial assets is hitting a wall because, although bankers and legacy institutions want to capture the efficiency of decentralized ledgers, the current operational reality is still too risky for conservative capital allocators.　　“When they move assets onchain, they need to face all these AI attacks, smart contract vulnerabilities, oracle manipulation, and cross-chain bridge hacks,” Gu explained. “So, thats being considered as one of the major blockers for all this TradFi to move trillions of dollars of assets onchain.”　　Gu said their concerns are legitimate, noting that CertiK detected hacks nearly every day in April, making it the worst month in four years, fueled mostly by AI-driven attacks, notwithstanding “April was the worst month in four years with only three days without a

05-31Industry

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