Today's Crypto Pulse
Bitcoin slides below $70K as energy‑price worries spark $4.2B outflows
Bitcoin fell under $70,000 this week, erasing much of its February rebound. The decline is linked to heightened energy‑price uncertainty from U.S.–Iran tensions, which could keep inflation and rates high. Institutional investors accelerated withdrawals, pulling more than $4.2 billion from digital‑asset portfolios.
Also developing:
By the numbers: OpenPayd goes public via $276M SPAC deal
Crypto Rails: Banking Adoption of Asset Tokenization and Stablecoin Payments
The panel explored how banks are adopting stablecoins and tokenized assets, focusing on cross‑border payment efficiencies, regulatory landscapes, and new customer segments such as the mass‑affluent. Key insights revealed that U.S. banks view stablecoins as limited due to existing real‑time payment infrastructure, while Bermuda’s bank sees them as a "killer app" for daily international transactions. Tokenization was highlighted as a pathway to fractional ownership and private‑equity exposure for investors with £100k‑£5m in assets, exemplified by Monument Bank’s $250 million tokenized savings program in partnership with the Midnight Foundation. Notable remarks included a Bermuda bank executive stating, "Stablecoins are a killer app for cross‑border payments," and Monument’s chief noting, "We’re building the financial home for the mass‑affluent." The discussion also referenced Western Union’s foray into stablecoins and JPMCoin’s earlier launch, underscoring industry momentum. If banks can navigate regulatory and liquidity challenges, stablecoins could dramatically reduce FX and remittance costs, while tokenized assets may democratize private‑equity returns, compelling traditional custodial and wealth‑management models to evolve.
Robinhood Closes $250 Million WonderFi Deal, Launches Crypto Services in Canada
Robinhood Markets Inc. has closed its $250 million acquisition of Canadian crypto platform WonderFi, bringing Bitbuy and Coinsquare under the Robinhood brand. The deal lifts Robinhood’s international funded customer base to one million, adding roughly 300,000 Canadian users.
Fenwick & West Settles FTX Investor Claims for $54 Million
Fenwick & West has agreed to pay $54 million to resolve claims from investors in the collapsed cryptocurrency exchange FTX. The settlement, approved by a Florida federal judge, ends the firm's involvement in a multidistrict litigation that has drawn attention to...
Mastercard Launches On‑chain Settlement Platform for Stablecoins, Enabling 24/7 Payments
Mastercard announced a new on‑chain settlement framework that lets issuers and acquirers settle transactions with regulated stablecoins 24/7. The platform initially supports USDC, PYUSD, USDG, USDP, RLUSD and SoFiUSD across six blockchains, giving banks real‑time liquidity and weekend settlement options.
NALA Secures $50 Million Credit Line to Accelerate Stablecoin Remittance Infrastructure
NALA has closed a structured credit facility of up to $50 million, led by AI‑driven private credit firm Liquidity through its joint venture Mars Growth Capital with MUFG Bank. The non‑dilutive funding will be used to pre‑fund customer accounts and expand...
Bittensor (TAO) Eyes Mainstream as AI‑Crypto Gains $2.8 B Market Cap
Bittensor (TAO) surged 15% to a $2.8 billion market cap, positioning it to eclipse Shiba Inu and enter the top‑25 cryptocurrencies. The project’s AI‑driven mining model and pending spot ETF launches are fueling investor optimism in a market otherwise weighed down...
Tiny Bitcoin Sale Signals Major Attention Shift
Strategy sold Bitcoin for the first time since 2022. On Bits + Bips, Ram Ahluwalia on why Bitcoin's status as an 'attention asset' makes even a tiny sale matter more than the size suggests. Full episode with Austin Campbell and...
Token‑Vote Power Skewed as $50M Market Misses Bitcoin Sale
A $50M prediction market just resolved against black-and-white text in an SEC filing. Polymarket's "Will MicroStrategy sell any Bitcoin by May 31?" is settling "No" — even though Strategy's 8-K shows it sold 32 BTC inside the window. On this...
Crypto Long & Short: What About the American Consumer?
The U.S. Senate Banking Committee moved the Digital Asset Market CLARITY Act forward, but banking lobbyists are demanding tighter limits on stable‑coin rewards, threatening the bill’s final passage. Meanwhile, 1 in 5 American adults—about 68.5 million people—already hold cryptocurrency, and stablecoins are seen...
UK Lords Press Treasury to Stick to Sterling Stablecoin Timeline
The UK House of Lords Financial Services Regulation Committee has told the Bank of England, FCA and HM Treasury to adhere to their published timetable for sterling‑denominated stablecoin regulation. Peers warn that any slip could hand the digital‑payments race to...
Mining Firms Report Revenue Slump as Bitcoin Dips, Sparking Debate on Double‑Down Strategy
HIVE Digital Technologies, TeraWulf and Keel Infrastructure posted sharp revenue declines in their latest quarters as Bitcoin prices slipped below $70,000. Executives cite higher operating costs and a strategic pivot to high‑performance computing, fueling a debate on whether investors should...
How to Choose a Base RPC Provider for Production dApps
Base, Coinbase’s EVM‑compatible Layer 2, is gaining traction for DeFi, wallets, NFTs and payment apps. While teams can run their own Base node, operational overhead makes managed RPC services attractive for production workloads. The article outlines criteria—uptime, geo‑balanced routing, RPS limits,...
Mastercard and Visa Back Stealth Stablecoin Platform
Payment giants Mastercard, Visa and Stripe are reported to be backing a stealth stablecoin platform that is set to launch soon, according to CoinDesk. Coinbase is reportedly weighing participation in the initiative. The move coincides with Mastercard’s announcement to integrate...
Binance to End NFT Support on Exchange, Shift Service to Wallet
Binance announced it will cease NFT support on its exchange, requiring users to withdraw transferable NFTs by July 3. The service will be migrated to Binance Wallet, a self‑custodial crypto wallet that promises easier Web3 access. To smooth the transition, Binance...
Rare Physical Bitcoin Worth $1.78 Million Gets Cashed in After 12 Years
A rare Casascius physical bitcoin containing 25 BTC was redeemed, converting the coin into roughly $1.70 million in Bitcoin after 12 years. The S1‑COIN‑25, part of Mike Caldwell’s 2011‑2013 mint, had its tamper‑evident hologram peeled and the private key imported to a new...
A 180% Crypto Rally Shows New Investing Era as Bitcoin Stumbles
A 180% rally in crypto infrastructure tokens is reshaping the market as Bitcoin and Ether suffer sizable outflows. Over the past year, assets such as Solana, Polkadot and Avalanche have attracted roughly $5 billion of new capital, while Bitcoin and Ether...