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Binance reactivates cryptocurrency purchases with Mastercard

Binance, the largest cryptocurrency exchange by volume, has announced the reactivation of Mastercard (NYSE:MA) for cryptocurrency purchases. According to a statement on the X platform, the functionality has been restored with a single purchase limit of up to 5,000 euros, about $5,440, and $20,000 for transactions in U.S. dollars. This return is part of a larger effort by Binance to meet stringent compliance standards, reinforcing trust among users and regulators. The company also plans to expand regulated payment options to further facilitate user transactions.

Robinhood acquires Bitstamp for $200 million to expand crypto operations

Robinhood Markets (NASDAQ:HOOD) has finalized the acquisition of Bitstamp, one of the world’s oldest cryptocurrency exchanges, for $200 million. This acquisition, expected to be completed in the first half of 2025, aims to expand Robinhood’s Bitcoin and cryptocurrency business, increasing its global reach and its ability to serve institutional and retail customers. Bitstamp, known for its resilience and reliability, will complement the services already offered by Robinhood, which sees in cryptography the potential to reorganize the financial system.

Bitdeer acquires Desiweminer in a $140 million transaction

Bitcoin miner Bitdeer (NASDAQ:BTDR) has purchased ASIC chip designer Desiweminer in an all-stock deal valued at $140 million. The transaction, announced on June 3, involves 20 million Class A ordinary shares of BTDR. The Desiweminer team will join Bitdeer’s ASIC design team in Singapore, with combined products ready for immediate launch. This move comes after a $150 million investment from Tether in Bitdeer. In response to the announcement, BTDR shares rose about 6.3%, to $7.45, in Thursday’s trading.

Core Scientific rejects acquisition offer from Coreweave

Core Scientific (NASDAQ:CORZ), a prominent cryptocurrency miner, has declined an acquisition proposal from Coreweave valued at $5.75 per share. The board stated that the offer undervalues the company, considering its recent deals and growth projections. This announcement comes after Core Scientific overcame a bankruptcy petition and demonstrated a robust financial recovery in the first quarter of 2024.

Ark’s Cathie Wood withdraws from Ether ETF due to intense fee war

Cathie Wood of Ark Investment has abandoned the launch of an Ethereum ETF in the U.S., citing the competitive fee war as a decisive factor. At the Consensus conference, Wood revealed that Ark’s spot Bitcoin ETF, with a fee of 0.21%, was not profitable. With Grayscale setting higher fees and losing market leadership, the industry faces a race to offer low fees. Analysts view Ark’s exit as a response to reduced margins and potentially lower demand for Ether ETFs compared to Bitcoin ETFs.

Bitcoin ETFs record record inflows of $1.4 billion in two days

On June 5, Bitcoin ETFs recorded inflows of $488.1 million, marking 17 consecutive days of inflows, a new record. In the past two days, inflows totaled an impressive $1.4 billion. The Fidelity ETF (AMEX:FBTC) led with $220.6 million, followed by the BlackRock ETF (NASDAQ:IBIT) with $155.4 million. The ARK ETFs (AMEX:ARKB) and the Bitwise ETF (AMEX:BITB) registered $71.4 million and $18.5 million, respectively. The Grayscale ETF (AMEX:GBTC) recorded inflows of $14.6 million, but still faces a total net outflow of $17.9 billion.

Bitcoin volatility increases with futures expiration and high projections for 2024

Bitcoin (COIN:BTCUSD) is fluctuating around $71,000 this Thursday, hitting an intraday high of $71,650.56 and trading at $70,956 at the time of writing. Among the top 10 cryptocurrencies, all are experiencing slight declines, except Ether (COIN:ETHUSD), which is up over 1%, and Toncoin (COIN:TONCOINUSD), which is up over 3%. The price of ETH is $3,831, while Toncoin is valued at $7.43.

However, with $2.2 billion in futures options expiring on June 7, Bitcoin could fall below the psychological mark of $70,000. Of these, $1.22 billion are Bitcoin futures options, indicating a “maximum pain point” of $69,500. This expiration may increase Bitcoin’s price volatility, creating a scenario of uncertainty.

Parallelly, Fernando Pereira, analyst at Bitget, highlighted with optimism the positive correlation between the performance of the S&P 500 and the price of Bitcoin. He predicts that “a 2.5% to 5% rise in the S&P 500 in the coming days could drive BTC up about 12%, reaching $80,000”. Additionally, Geoffrey Kendrick, head of forex and digital assets research at Standard Chartered, also shares an optimistic view, predicting that Bitcoin could reach $100,000 before the U.S. presidential elections. Kendrick suggests that, should Trump win, the price could reach $150,000 by the end of the year, attributing this outlook to the political climate, recent regulatory decisions, and potential favorable economic data.

Franklin Templeton plans crypto fund for institutional investors

Franklin Templeton, a $1.6 trillion asset manager, is considering launching a private cryptocurrency fund, according to The Information. The fund, aimed at institutions, will focus on assets beyond bitcoin and ether, with the possibility of passing on staking rewards. The manager has previously taken initiatives in the digital asset sector, including a bitcoin ETF and a tokenized government bond fund.

Tim Draper recommends Bitcoin for treasury diversification after SVB collapse

Venture capitalist Tim Draper suggests that companies diversify their treasuries by including Bitcoin (COIN:BTCUSD) as protection against banking risks. This recommendation follows the collapse of Silicon Valley Bank (SVB) in March 2023, which severely impacted several startups, including cryptocurrency clients. Draper proposes that companies split their capitals between large banks, smaller banks, and Bitcoin to avoid similar challenges in the future. This method offers a safety net, allowing operations to continue even in financial crises.

High short positions in MicroStrategy signal potential volatility

Analyses of net short positions released by Fintel reveal that MicroStrategy (NASDAQ:MSTR) faces high exposure to short selling, representing 23.14% of its market capitalization, indicating strong bearish sentiment. In contrast, Coinbase (NASDAQ:COIN) and Marathon Digital (NASDAQ:MARA) show lower exposure, with 1.77% and 1.68%, respectively. These positions may reflect hedging strategies, especially in contexts where companies maintain long positions in Bitcoin (COIN:BTCUSD), as is the case with Kerrisdale Capital.

Coinbase integrates network alerts in encrypted wallet with Notifi

The mobile wallet of Coinbase Global (NASDAQ:COIN) now offers automated alerts about network activities through the Notifi messaging service. The launch, in partnership with GMX, allows users on Arbitrum and Avalanche to receive notifications about imminent liquidations and governance changes. The integration uses the XMTP protocol, enabling secure communications between wallet users. This new functionality aims to enhance the user experience by providing relevant and timely information directly in the wallet.

SushiSwap expands to Bitcoin’s Rootstock sidechain

The decentralized exchange SushiSwap (COIN:SUSHIUSD) now operates on Bitcoin’s Rootstock sidechain, seeking to integrate DeFi features into the BTC ecosystem. Rootstock, launched in 2018, is one of the first Ethereum Virtual Machine (EVM)-compatible sidechains dedicated to Bitcoin. Its goal is to combine the security of Bitcoin with the flexibility of Ethereum’s smart contracts. SushiSwap’s migration follows the trend of expanding DeFi on Bitcoin, initiated by the Ordinals protocol and other projects seeking to incorporate typical features of networks like Ethereum and BNB Chain into Bitcoin.

B2BinPay launches TRX staking and expands blockchain support

B2BinPay, a leader in blockchain payment solutions, has introduced staking of Tron (COIN:TRXUSD) and expanded its blockchain support in the latest update. Now, in addition to Polygon (COIN:MATICUSD) and Avalanche (COIN:AVAXUSD), the platform includes Optimism (COIN:OPUSD), Arbitrum (COIN:ARBUSD), and Base. The highlight of the version is TRX Staking with an annual yield of 3-5%, allowing users to save on transaction fees by converting staking into bandwidth and energy. These additions reinforce the versatility of B2BinPay, offering more options and efficiency to its customers.

Avalanche and Blockaid join forces to enhance security in blockchain wallets

Avalanche (COIN:AVAXUSD) has announced a partnership with Blockaid to integrate security features into its Core wallet. The initiative aims to combat phishing scams and other attacks, using Blockaid’s threat database to simulate and verify transactions before execution. This measure intends to provide an extra layer of security for Avalanche network users. Despite criticisms about the false positives generated by the system, Blockaid emphasizes that this is a small price to pay to effectively block fraudulent transactions, promoting greater security in the decentralized finance ecosystem.

Web3 developer loses $40,000 after exposing keys on GitHub

Brian Guan, co-founder of Unlonely, lost $40,000 after accidentally making public a GitHub repository containing his secret keys. The incident, disclosed in a post on X on June 5, highlights the security risks in managing digital assets. The cryptocurrency community reacted mixedly, with some offering support, while others criticized his previous views on using ChatGPT for programming. The event raises questions about security practices and developers’ responsibility to effectively protect their digital assets.

Taiko innovates with decentralized sequencing on Ethereum Layer 2

Taiko, an Ethereum Layer 2 project, has launched its mainnet with permissionless sequencing and proof, becoming the first rollup to offer such functionality. This allows anyone to participate in block sequencing and validation, promoting greater decentralization compared to other rollups that use centralized sequencers. Taiko’s co-founder and CEO, Daniel Wang, highlighted the commitment to decentralization and the security inherited from Ethereum’s base layer. With this, Taiko aims to enhance Ethereum’s scalability and efficiency, reducing central dependencies and increasing community participation.

The Sandbox announces $20 million funding for metaverse expansion

The Sandbox (COIN:SANDUSD), a subsidiary of Animoca Brands, has raised $20 million to expand its creative economy in the metaverse. Led by Kingsway Capital and with participation from investors such as LG Tech Ventures, the funds will be used to enhance tools like Game Maker and VoxEdit, and to introduce advanced social interactions. The company is also developing a mobile version, scheduled for 2025, reinforcing its commitment to making the metaverse accessible and inclusive to a global audience.

Roger Ver released on bail in Spain awaiting extradition

Bitcoin investor Roger Ver has been released on bail of $163,000 by a Spanish court while awaiting possible extradition to the U.S. Accused of fraud and tax evasion, Ver must remain in Spain and appear in court every two days.

JPMorgan evaluates regulatory trend against crypto and CBDC in the U.S.

According to a report by JPMorgan (NYSE:JPM), cryptocurrency regulations in the U.S. are taking a restrictive direction, especially against the launch of a central bank digital currency (CBDC) and the adoption of cryptocurrencies by local banks. The report highlights that non-compliant stablecoins, such as tether (COIN:USDTUSD), are also under increasing scrutiny. The Payment Stablecoins Clarity Act, which favors regulated stablecoins, has a better chance of approval before the presidential elections. Other initiatives, including the FIT21 Act and regulations that make it difficult for banks to custody crypto assets, face significant challenges to be implemented.