Tether's USDT jumps to 8.5% premium in India after crypto payment crackdown

The price of Tethers $USDT, the largest dollar-pegged stablecoin, has climbed to more than 8.5% above its dollar value on Indian platforms after a government crackdown on crypto payment firms choked off the tokens supply into the country.  $USDT traded around 102.88 rupees over the weekend against an official dollar-rupee rate of about 94.65, a gap that normally sits between 3% and 4%.  That spread, known as the $USDT premium, is the extra amount buyers in India pay for the stablecoin above what a dollar costs through banks, and it widens when local demand outstrips the supply of tokens.  Local publication ET said the squeeze followed action by the Enforcement Directorate, Indias financial-crime agency, which searched six premises in Bengaluru on June 17 under the Foreign Exchange Management Act, the law governing cross-border money flows. The agency is targeting five crypto payment firms it alleges moved more than $265 million in unauthorized cross-border transfers using digital assets.  The ED alleges the firms ran what amounted to an informal remittance channel, with non-resident Indians using $USDT in place of bank wires.  Rupees were deposited into company accounts, converted into stablecoins, sent across borders and sold on Indian exchanges, the agency said, sidestepping the paperwork and approvals

06-29

Bitcoin miners flash another warning for BTC bulls

Bitcoin miners weighed down the spot market after transferring another 19,560 $BTC to Binance. This is the fourth-largest $BTC inflow to the exchange since February, showing the current price range is putting pressure on mining companies.   Bitcoin miners accelerated their exchange deposits in June, with another deposit of 19,560 $BTC. The recent wave of deposits follows an inflow of 23,000 $BTC earlier this month.  According to Cryptoquant analyst Amr Taha, the recent inflows go beyond routine transfers and are a significant on-chain event. Miners strongly prefer Binance, with minimal inflows to Coinbase, HTX, OKX, Kraken, Bybit, Gemini, or other exchanges.  The inflows happened as $BTC hovered just under $60,000. Later, the coin recovered to $60,019.25, with a dominance of 55.8%. According to F2Pool, one of the biggest miners, $BTC conditions worsened notably in the past week.  Difficulty: +7.15%  $BTC price change (7d): -7% (~$60k)  Daily revenue: $0.03/T  Currently, Bitcoin ASICs with a unit power of 19.5 W/T are running close to their break-even line.  View the full list here:…  The transfer to exchanges does not mean that the coins are sold. It may mean that miners may take advantage of the spot market if prices are favorable. The two large-scale inflow events in June suggest miners are still

06-29

Hyper Foundation allocates $10m in grants to support USDH migration

Hyper Foundation will allocate about $10 million in grants to help builders affected by the USDH sunset. The funding is meant to cover migration and wind-down costs as the Hyperliquid ecosystem moves more trading activity toward $USDC.  “Hyper Foundation announced approximately $10 million in grants to help builders affected by the USDH sunset, covering migration and wind-down costs,” Wu Blockchain said. The post said eligible recipients include HIP-1 and HIP-3 deployers, HyperEVM protocols, USDH bridges and Native Markets.  Hyper Foundation Allocates $10M in Grants to Support USDH Migration  Hyper Foundation announced approximately $10 million in grants to help builders affected by the USDH sunset, covering migration and wind-down costs. Grants will be distributed to eligible HIP-1 and HIP-3…  The grants come with a clear deadline. Recipients must complete migrations or orderly shutdowns by the end of July. The plan gives affected builders a limited period to update markets, move liquidity, adjust bridges or close USDH-related services.  Eligible builders face July deadline  HIP-1 deployers relate to spot market deployments, while HIP-3 deployers relate to perpetual market deployments. Both groups may need support because USDH served as a quote asset or liquidity route for some products. HyperEVM protocols and USDH bridge operators may also face direct technical changes.  Native

06-29

10 Crypto Market Predictions for 2026 Show Winners, Laggards, and Emerging Trends

21Shares Measures 10 Crypto Forecasts Against Midyear Market Data  Crypto markets are entering the second half of 2026 with 10 major forecasts moving at sharply different speeds, 21Shares stated in its midyear outlook, published on June 24. The review compares January expectations with market data through May 31 and June 8, separating areas that are ahead of schedule, behind target, or still developing.  The first prediction stated that bitcoins four-year cycle would break in 2026. That forecast has not materialized. Bitcoin reached a peak of about $126,000 in October 2025 before retracing roughly 50%. While the correction was significant, it remained far less severe than previous bear markets, which saw declines exceeding 80%, and bitcoin continued to trade above its $54,000 aggregate cost basis.  21Shares is a cryptocurrency exchange-traded product (ETP) issuer that offers more than 60 physically backed crypto ETPs across global markets. Its researchers described:  “While the overall direction we outlined for 2026 remains largely on track, some predictions are ahead of schedule and others are lagging.”  The second prediction expected global crypto ETP assets to surpass $400 billion. That target now looks distant after assets fell to roughly $140 billion by May. Bitcoin ETPs accounted for about $110 billion, while U.S. spot

06-29

Ripples CLARITY Truck Hits Washington as Congress Weighs Crypto Rules

Ripple Takes CLARITY Act Campaign to Washington, D.C., as Senate Vote Pressure Builds  Ripple put its CLARITY Act message on wheels June 25, sending a branded truck through Washington, D.C., as Congress continued work on digital asset market rules. The campaign put the company‘s policy argument before lawmakers, staff, and industry advocates as they watched the Senate’s next move.  Lauren Belive, Ripple‘s global co-head of public policy and government, promoted the effort on X. “On the road to clarity – literally!” she wrote. “Ripple’s Clarity truck is out in D.C. as Congress works on the Clarity Act, which creates clear rules for digital assets and crypto. Clear rules help protect consumers, support responsible innovation, and keep the U.S. competitive.”  Ripple separately stated on X:  “Ripple is on the road to clarity! Our Clarity truck is on the move in D.C. as Congress continues work on transparent rules of the road for digital assets.”  Executives across the digital asset industry are backing the Clarity Act, with Ripple CEO Brad Garlinghouse saying the company supports the measure and calling it a pivotal moment for establishing clear, workable rules for crypto markets in the United States.  More than 200 organizations, including Coinbase, Ripple, Kraken, Circle, Binance.US, Uniswap Labs, Paradigm,

06-29

JPMorgan Pilots Deposit Token JPMD on Base — Heres Why It Matters

JPMorgan has announced it will pilot its deposit token, JPMD, on the Base blockchain, a Layer-2 solution developed by Coinbase. This initiative represents a significant step in integrating traditional banking with blockchain technology, as highlighted in a recent tweet by tier10k. The move could reshape how financial institutions interact with digital assets and increase the adoption of blockchain in mainstream finance.  The Latest  The broader crypto market is showing mixed signals, but JPMorgan‘s launch of the JPMD deposit token has garnered attention. This token operates as a permissioned blockchain representation of U.S. dollar deposits at JPMorgan, issued on Base. The Base platform, utilizing an Optimistic Rollup architecture, allows for fast transactions while maintaining Ethereum’s security. This integration could enhance liquidity options for JPMorgan clients, expanding their capability to transact in a digital format. As institutional players begin adopting blockchain solutions, the implications of this launch could resonate throughout the financial sector, inviting other banks to explore similar innovations.  The Essentialsorg: JPMorgan, action: Pilot deposit token JPMD on Base, effective_date: June 2025  Token Metrics  Despite the current price of the JPMD token remaining at $0, the potential impact of its introduction is noteworthy. The market is witnessing a pivotal moment as traditional finance intersects with blockchain

06-29

The next crypto recovery trade might be equities instead of tokens

The total crypto market cap is down more than 36% year over year, the altcoin complex sits roughly 45% below its October 2025 peak, and Bitcoin is on course for its worst annual start in more than a decade, with capital rotating into AI stocks and major IPOs.  Three years of waiting for a broad altseason that never arrived have left altcoin traders with fast-decaying narratives, unlock-driven selling, memecoin rotations that rewarded a handful of early buyers, and rallies that faded before most participants could size in.  Some investors are now asking whether owning the companies that profit from crypto activity is a cleaner trade than picking the next token.  On June 25, ARKs ETFs bought roughly $5.4 million in four crypto-linked equities, even as all four stocks traded lower.  The purchases totaled approximately $1.28 million on Coinbase, $637,455 on Circle, $199,895 on Bullish, and $3.27 million on Robinhood. Cathie Wood was buying into weakness, and the stocks she chose are companies that monetize crypto activity.  Crypto-linked equities give investors exposure to crypto activity, including trading volumes, stablecoin circulation, custody assets, derivatives flows, and retail speculation.  In the kind of low-energy chop that has defined the past three years, the two bets diverge sharply.  ARK invested roughly

06-29

Zcash Founder Rails Against Coinbase

Zcash founder Zooko Wilcox-OHearn has sharply criticized cryptocurrency exchange Coinbase for aggressively pushing gambling-like features to its user base.  On Saturday, Zooko took to X (formerly Twitter) to voice his intense frustration over the platforms tactics.  “Talked to a user (a vulnerable, young, unsophisticated, financially poor user) who has the Coinbase app, and it has started prompting them to gamble on sports and the price of Bitcoin,” Zooko stated. “I hate this with a burning passion and it makes me ashamed to be part of this industry,” he added.  Defending “financial freedom”  Coinbase CEO Brian Armstrong has made it clear that there is a need to find the right balance.  The CEO defended the inclusion of prediction markets on the platform by leaning on libertarian principles of personal choice. “Im pro-freedom,” Armstrong argued.  “Consenting adults should be able to do what they want with their own money, as long as they‘re not harming others. I don’t want companies patronizing users.”  Armstrong further pushed back against the stigma of the word “gamble.”  The Coinbase boss has noted that “theres no perfectly safe investment, and what counts as acceptable is highly subjective,” he noted.  Adjusting promotional strategies  Armstrong has concluded that Coinbases promotional strategies might need adjustment.  “That said, it doesn‘t feel right

06-29

Bitcoin faces fresh capitulation risk as 50K BTC moved at a loss

Bitcoin ($BTC) is showing fresh signs of short-term holder capitulation after roughly 50,000 $BTC moved to exchanges at a loss over the past day. At the same time, the market capitalization of short-term holders fell to $237.7 billion, its lowest level since October 2024.  The rise in loss-driven selling comes as tighter monetary conditions and weakening institutional demand continue to weigh on Bitcoin, as analysts underlined a “deeply unfavorable” environment for $BTC.  Short-term Bitcoin holders show renewed stress  CryptoQuant analyst Amr Taha said Bitcoins short-term holder (STH) market capitalization fell to $237.7 billion on June 26, its lowest level since Oct. 2, 2024, when it stood near $239.7 billion.  $BTC STH realized market cap. Source: CryptoQuant  The metric tracks the market value of coins held by investors who bought Bitcoin within the past 155 days. The latest reading shows the cohorts market value is below its realized value, indicating many recent buyers are holding more unrealized losses.  A similar decline appeared during the October 2024 correction, which later aligned with an important Bitcoin bottom. The latest reading serves as a measure of stress rather than confirmation of a market low.  Exchange activity adds another layer to the picture. Around 50,000 $BTC from short-term holders moved to exchanges

06-28

Coinbase CEO floats Chinese open-weight AI models as antidote to runaway bills

Coinbases CEO has proposed experimenting with cheaper open-weight AI models to keep AI spending in check as token consumption climbs.  This proposal has led to concerns over the security and geopolitical risks of directing enterprise workloads through Chinese-origin systems.  Why are companies using Chinese AI models?  U.S. export controls have made it harder for Chinese companies to access American AI chips, but that hasnt stopped them from building competitive models and selling them at much lower prices.  For instance, Zhipu‘s $GLM 5.2 costs $1.40 per million input tokens and $4.40 per million output tokens compared to Anthropic’s Opus 4.8 at $5 and $25 for the same volume.  $GLM 5.2 scored 62.1 on SWE-bench Pro, a key coding benchmark, beating OpenAIs GPT-5.5 at 58.6. One AI researcher said $GLM 5.2 “is at least as good as Opus 4.8 and GPT 5.5.”  Another called it “the first open model that can really compete with closed-source systems.”  Is Coinbase using Chinese AI models  Coinbases CEO Brian Armstrong says the best way to control rising AI costs is to use cheaper open-weight models, including systems from China like $GLM 5.2.  Armstrong said instead of spending more and more on AI, companies need “better defaults, routing, and caching.” His suggestion to use Chinese models,

06-28
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