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Elon Musk made a daring offer to Apple that could have reshaped the future of iPhone connectivity. Tim Cook’s rejection sparked a rivalry that’s heating up with legal battles and technological clashes.
In the world of technology, few rivalries have been as intense as the ongoing battle between Elon Musk and Tim Cook. Both heads of iconic companies, Musk and Cook, have repeatedly clashed over everything from innovation to market dominance. The latest chapter in their ongoing feud has been marked by an ambitious offer from Musk that could have drastically changed the future of smartphone connectivity.
But Apple’s CEO Tim Cook chose a different path. What followed was not only a business decision but a full-blown confrontation that is reshaping the landscape of satellite connectivity. As this battle unfolds, SpaceX’s Starlink service and Apple’s Globalstarpartnership have become the key players in a race for technological supremacy.
Musk’s Bold $5 Billion Proposition
In the months leading up to the launch of Apple’s iPhone 14 in 2022, Elon Musk made a game-changing proposal to Apple. According to Apple Insider, His company, SpaceX, offered Starlink satellite connectivity for the iPhone, with the deal requiring Apple to pay $5 billion upfront and $1 billion annually after an 18-month exclusivityperiod. This offer, Musk believed, was too lucrative to decline, and he even set a strict 72-hour deadline for Apple to accept.
However, Tim Cook turned down the deal, opting instead for a partnership with Globalstar, a smaller satellite service. Cook’s decision, while surprising to many, was grounded in a strategic choice to align with a provider that was perceived as less risky and more in line with Apple’s cautious approach. Despite the rejection, Musk’s response was swift and calculated.
A Rivalry That Spans the Skies
Not one to back down easily, Elon Musk kept his word and launched a direct competitor to Apple’s satellite plans. In collaboration with T-Mobile, SpaceX introduced Starlink Direct to Cell, a service designed to bring satellite-powered communication to smartphones, including the iPhone. This development allowed iPhone users to access Starlink’s service, provided they were on the T-Mobile network.
This move escalated the rivalry, with Musk directly challenging Apple’s relationship with Globalstar, which was providing the satellite infrastructure for the iPhone’s emergency connectivity feature. While Apple moved ahead with Globalstar, Musk’s service was already in operation, offering greater coverage and more robust features.
Legal Battles and Internal Resistance
The competition between Apple and SpaceX didn’t stop at business deals. In 2022, SpaceXbegan challenging Globalstar’s rights to a crucial wireless spectrum that directly affected Apple’s satellite services. SpaceX argued that Globalstar had not fully utilized the spectrum allocated to it and was blocking competitors like SpaceX from entering the market.
This legal maneuver had direct consequences for Apple, as it was relying on that very spectrum for its satellite communication services. If SpaceX succeeded in its challenge, Apple could be forced to find an alternative, possibly turning to Musk for a solution.
Adding to Apple’s troubles were reports of internal dissent regarding the Globalstar partnership. Senior executives, including Craig Federighi, Apple’s software chief, expressed concerns about Globalstar’s aging network and the lack of improvements on the horizon. This internal friction within Apple suggests that the decision to rely on Globalstar may not be as straightforward as it appeared.
The Fight for Satellite Supremacy Continues
As SpaceX and Apple continue to battle over satellite connectivity, it’s clear that the stakes are higher than ever. Musk’s aggressive strategy—backed by legal action and technological innovation—has forced Apple into a corner. The growing tensions between the two tech giants are not only about business, but about the future of smartphone technology and how it will operate in an increasingly connected world.
With Starlink already providing direct connectivity to smartphones and Apple’s ongoing commitment to Globalstar, this battle is far from over. The rivalry is now not just about which company can dominate the market, but which one will control the future of satellite-powered communication.

#CPIWatch #BTC120kVs125kToday #USCryptoWeek

A potential ouster of Federal Reserve chair Jerome Powell by U.S. President Donald Trump could "collapse" both the currency and bond markets and would lead to a spike in inflation expectations, Deutsche Bank said on Friday.
Earlier this week, Russell Vought, the director of the Office of Management and Budget, accused Powell of "grossly" mismanaging the Fed and said the central bank was "way over budget" on the renovation of its headquarters, with the cost of the project ballooning to roughly $2.5B.
The accusation potentially opens up an avenue for Trump to seek Powell's removal. The President has repeatedly criticized the Fed chief for not lowering interest rates and has called him a range of names. He has reportedly considered dismissing Powell and naming his successor much ahead of the end of his term.
Deutsche Bank's head of FX research, George Saravelos, noted that the market was currently pricing in a very low probability of a Powell ouster. According to prediction platform Polymarket, the odds of such an event currently stand at 15%.
But Saravelos offered a few thoughts on the possible implications.
"The empirical and academic evidence on the impact of a loss of central bank independence is fairly clear: in extreme cases, both the currency and the bond market can collapse as inflation expectations move higher, real yields drop and broader risk premia increase on the back of institutional erosion. Interestingly, the impact on equities has been far more ambivalent given they are ultimately a claim on real assets," he said.
"It is hard to quantify the impact on FX and rates, but on the first 24 hours of an announcement of a Powell removal we would expect a drop in the trade-weighted dollar of at least 3%-4% accompanied by a 30-40bps sell-off in U.S. fixed income led by the back-end," Saravelos said.
As per the analyst, the market's reaction beyond the initial news would depend on if the remaining Fed policymakers "coalesce" around the central bank's independence, Powell's successor pick, and the broader macroeconomic context.
"In sum, we consider the removal of Chair Powell as one of the largest underpriced event risks over the coming months," he added.
For Wall Street this week, trade developments grabbed the headlines, overshadowing monetary policy and the Fed. Here are some exchange-traded funds that track the benchmark S&P 500 index (SP500): (NYSEARCA:SPY), (NYSEARCA:VOO), (NYSEARCA:IVV), (NYSEARCA:RSP), (NYSEARCA:SSO), (NYSEARCA:UPRO), (NYSEARCA:SH), (NYSEARCA:SDS), and (NYSEARCA:SPXU).
To track currency, here is the U.S. dollar index (DXY) and some related ETFs: (NYSEARCA:UUP), (NYSEARCA:USDU), and (NYSEARCA:UDN).
And here are some fixed-income linked funds: (NASDAQ:TLT), (NYSEARCA:TLH), (NASDAQ:IEF), (NASDAQ:IEI), (NASDAQ:SHY), (NYSEARCA:SGOV), (NYSEARCA:SCHO), (NYSEARCA:BIL), (NYSEARCA:AGG), (NASDAQ:BND), (NASDAQ:VCIT), (NYSEARCA:MUB), (NASDAQ:MBB), (NYSEARCA:JNK), (NYSEARCA:LQD), (NYSEARCA:HYG), and (NYSEARCA:TIP).
#BTCBreaksATH #MemecoinSentiment

As Bitcoin (BTC) continues its climb toward its all-time high (ATH), several technical patterns and time-based indicators have turned bullish, suggesting the flagship cryptocurrency may be on the verge of parabolic gains in the coming weeks.
🔸These Indicators Hint At Parabolic Rally For Bitcoin
BTC has broken out of a bullish pennant and completed a successful retest – signaling its readiness for a new ATH. The analyst added that the bullish pennant projects a potential target of $150,000.
For the uninitiated, a bullish pennant is a continuation pattern that forms after a sharp upward move, followed by brief consolidation within converging trendlines. A breakout above the pattern typically signals a continuation of the uptrend.
To explain, while a normal head and shoulders pattern is bearish for the underlying asset, an inverse variation of the pattern is bullish. The pattern is characterized by three troughs – two shallow shoulders on either side of a deeper head – followed by a breakout above the neckline.
current BTC cycle and the 2013–2017 run. The analyst shared the following chart showing that BTC has completed an ABC pattern on the weekly timeframe, followed by a prolonged consolidation and a successful breakout retest.
Meanwhile, seasoned analyst Titan of Crypto shared an interesting correlation between BTC cycles and US elections. Historically, BTC has topped approximately 53 weeks after a US election.
Since the last US election was in November 2024, it’s been 36 weeks. This suggests that a BTC peak could arrive within the next 17 weeks if historical patterns hold.
BTC Exchange Reserves Drying Up
On-chain data also paints a bullish picture. According to a recent CryptoQuant Quicktake post by contributor Chairman Lee, BTC exchange reserves have fallen to a multi-year low of 2.4 million BTC.
Declining exchange reserves typically signal a tightening supply, which can precede major bullish moves as demand outpaces available BTC. The analyst noted that the current trend mirrors the 2020–2021 bull cycle.
#BTCBreaksATH $BTC

Strategy has paused its bitcoin buying spree for the first time since April, leaving its current total holdings at 597,325 BTC ($65 billion).Hinting at the pause on Sunday, Strategy co-founder and executive chairman Michael Saylor said, “Some weeks you just need to HODL.”
Bitcoin treasury company Strategy (formerly MicroStrategy) paused its BTC +0.73%
acquisitions between June 30 and July 6, according to an8-K filingwith the Securities and Exchange Commission on Monday.

Strategy continues to hold a total of 597,325 BTC — worth over $65 billion — bought at an average price of $70,982 per bitcoin for a total cost of around $42.4 billion, including fees and expenses, according to the company's co-founder and executive chairman, Michael Saylor. That's the equivalent of more than 2.8% of bitcoin's total 21 million supply and implies around $22.6 billion of paper gains.
The firm has been using proceeds from at-the-market sales of its Class A common stock, MSTR, perpetual Strike preferred stock, STRK, perpetual Strife preferred stock, STRF, and perpetual Stride preferred stock, STRD to fund its bitcoin acquisitions in recent weeks. During the quarter ended June 30, Strategy received aggregate net proceeds of $6.8 billion from these sales, the firm said in the filing.
STRD offers a fixed 10% non-cumulative annual dividend and is non-convertible, STRK is a convertible preferred stock offering a fixed non-cumulative 8% annual dividend, and STRF is non-convertible and offers a 10% fixed cumulative annual dividend.
Strategy's STRK and STRF perpetual preferred stock's respective $21 billion and $2.1 billion ATM programs are in addition to the firm's "42/42" plan, which targets a total capital raise of $84 billion in equity offerings and convertible notes for bitcoin acquisitions through 2027 — upsized from its initial $42 billion, "21/21" plan after the equity side was depleted.
As of July 6, $18.1 billion worth of MSTR shares remain available for issuance and sale under that ATM program. $20.5 billion and $1.9 billion remain available under Strategy's STRK and STRF programs, respectively.
Last week's pause is the first time the firm has not bought bitcoin since the March 31 to April 6 period — coinciding with the release of its Q1 results on April 7, when Strategy disclosed $5.91 billion in unrealized losses on its bitcoin treasury for the period.
Following suit, Strategy released its Q2 results on Monday, disclosing an unrealized gain on digital assets of $14.05 billion. As a result, it also incurred an associated deferred tax expense of $4.04 billion. As of June 30, Strategy's digital asset carrying value was $64.36 billion, with a related deferred tax liability of $6.31 billion, the firm said. Additionally, Strategy entered into a loan agreement during Q2 that provides for aggregate borrowings of up to $31.1 million, available in multiple tranches, to fund a capital asset purchase.
Saylor hinted at the pause ahead of time, sharingan update on Strategy's bitcoin portfolio tracker on Sunday, stating, "Some weeks you just need to HODL."

Corporate bitcoin accumulation race
Strategy previously acquired an additional 4,980 BTC for approximately $531.9 million at an average price of $106,801 per bitcoin between June 23 and June 29. The pace of Strategy's bitcoin buys has generally been slowing in recent weeks as it switched focus from its common stock ATM program to its perpetual preferred stocks for funding bitcoin acquisitions.
According to Bitcoin Treasuries data, there are now 135 public companies that have adopted some form of bitcoin treasury, with Tether-backed Twenty One, Nakamoto, Trump Media, and GameStop, recently joining the likes of Semler Scientific, and KULR in adopting the bitcoin acquisition model pioneered by Saylor and Strategy. Meanwhile, Japanese investment firm Metaplanet is ramping up its bitcoin purchases, announcing Monday it had bought an additional 2,205 BTC for $239 million, bringing its total holdings to 15,555 BTC.
Strategy's $110 billion market cap trades at a significant premium to its bitcoin net asset value, with some investors continuing to air reservations about the firm's premium to NAV valuation and its increasingly numerous bitcoin acquisition programs in general. Last week, analysts at TD Cowen said Strategy's positive equity-to-BTC loop justifies the premium, while Franklin Templeton warned of an uncertain outlook for crypto treasury firms, citing "dangerous" negative feedback loop risks. New York-based law firm Pomerantz also filed a class action lawsuit against Strategy, alleging the company made false and misleading statements about its bitcoin investment strategy.
MSTR closed up 0.4% on Friday at $403.99, according to The Block's Strategy price page, in a week that saw bitcoin gain 1.1%. MSTR is currently down 0.6% in pre-market trading on Monday, per TradingView, but remains 34.6% up year-to-date compared to bitcoin's 16.9%.
$BTC #BinanceTurns8 #BreakoutTradingStrategy

Tesla chief executive Elon Musk, the former “first buddy” who was U.S. president Donald Trump’s right-hand man until recently, has announced he’s starting his own political party called the “America Party" (while dropping hints he’s still backing bitcoin).
Musk, whose stark warnings over the spiraling $37 trillion U.S. debt pile were a big part of his campaign to get Trump back into the White House last year, has fallen out with Trump over the raising of the U.S. debt ceiling in Trump’s signature "one, big, beautiful bill."
Now, as the bitcoin price is braced for “trillions and trillions” to hit the market, bitcoin and crypto analysts are predicting a bitcoin price boom as a result of the U.S.’s “massive fiscal expansion.”
“Nothing stops this train,” Lyn Alden, a financial commentator and founder of Lyn Alden Investment Strategy, said during this year’s bitcoin conference in Las Vegas, a reference to TV show Breaking Badthat she used to describe the U.S. deficit that added almost $2 trillion to the U.S. debt pile in 2024.
Musk has pointed to Trump “increasing the deficit from an already insane $2 trillion under Biden to $2.5 trillion,” as why he’s decided to start the America Party, posting to X that, “This will bankrupt the country.”
07/07 update: Elon Musk has confirmed the wild rumors and speculation that his new America Party could adopt bitcoin, replying to an X user that asked: "Will America Party embrace bitcoin?"
“Fiat is hopeless, so yes,” Musk wrote, sending the bitcoin price higher, and referring to government-backed currencies known as fiat, rather than asset-backed currencies, which the dollar was before it abandoned the gold standard.
Elon Musk’s hot-and-cold relationship with bitcoin has meant that even small references or mentions of bitcoin and crypto can cause prices to ricochet wildly.
While Musk has abstained from directly commenting on bitcoin and crypto over the last couple of years, his car company Tesla continues to hold around 10,000 bitcoin on its balance sheet and his support of U.S. president Donald Trump has coincided with the White House throwing its weight behind bitcoin.
Since Musk announced he’d be creating a new U.S. political party, bitcoin and crypto traders have speculated if he’d back bitcoin over the U.S. dollar.
An X account called @AmericaPartyX, which is described as a "commentary account" and clarifies in its bio it has “no affiliation,” has repeatedlyinteracted with bitcoin accounts and posted pro-bitcoin messages, stoking expectations Musk’s political party would support bitcoin.
Last week, X users were captivated by unconfirmed claims that Musk had "liked" a post suggesting he’s "quietly stacking" bitcoin as he rails against the growing U.S. debt pile.
"Has anyone noticed how Elon Musk talks a lot about things like overspending and debt and bad government decisions in general, but has completely stopped talking about bitcoin," an anonymous bitcoin account posted, with the account of bitcoin storage company chief executive Seedor known only as Chris, replying: “Maybe be is stacking quietly.”
Chris then shared a screen recording to X that appears to show Elon Musk’s X account liking the post, tagging two viral bitcoin content accounts.
However, doubts immediately surfaced that the account appearing to be Musk's didn't have a verification badge as well as claims that Chris has previously trolled people with photoshopped images.
Musk has said he believes president Trump as well as Republican Party politicians who won last year’s election on a spending-reduction platform have betrayed voters who want government spending to be reined in.
Fears over the U.S. debt pile have taken hold among investors on Wall Street and in Silicon Valley, with David Friedberg, a host of the influential All In Podcast that’s had both Musk and Trump on as guests, declaring: "We are in a fiscal emergency in this country and we’re not addressing it."
U.S. debt has skyrocketed in recent years following huge government spending through the Covid-era and lockdowns, with interest rates that were rapidly hiked to rein in inflation adding to the cost of servicing the ballooning $37 trillion U.S. debt pile.
This week, Trump’s "one, big, beautiful bill," designed to overhaul the U.S. tax-and-spend landscape and power the country’s next phase of growth while adding an expected $3 trillion of debt and raising the debt ceiling by $5 trillion, was passed by the House of Representatives.
“The ‘big beautiful bill’s’ massive fiscal expansion may weaken the dollar and stoke inflation, potentially boosting bitcoin’s 'digital gold’ appeal," James Toledano, chief operating officer at Unity Wallet, said in emailed comments, pointing to recent U.S. dollar weakness and echoing Musk who said the U.S. dollar “will be worth nothing if the U.S. doesn’t do something about its national debt.”
The bill is “one big red flag for fiscal sustainability and one big green flag for risk assets, especially crypto,” according to bitcoin and crypto investor Lark Davis, who wrote in an emailed note that, "this is exactly why we buy bitcoin."
“Bitcoin has historically delivered double-digit gains in the weeks after big spending bills," Davis wrote. "Bitcoin jumped 38% when Trump signed a major spending bill in late 2020. If bitcoin’s price action were to repeat again, this time it would send the price to $150,000. And because nothing stops this train, it’s hard money for the win during a debt crisis.”
#TrumpTariffs #DayTradingStrategy #MuskAmericaParty

Bitcoin has rocketed higher over the last 10 years, confounding its critics and making its mysterious creator Satoshi Nakamoto potentially one of the world’s richest people.
Bitcoin’s rise, which some think could be just getting started, has sparked huge interest in the identity of Satoshi Nakamoto, who has remained anonymous despite multiple attempts to unmask them.
Now, as a perfect storm is heading toward bitcoin, a $8.6 billion anonymous bitcoin transfer just weeks after Arthur Britto, a cofounder of Ripple’s XRP, broke a 14-year silence has sparked wild speculation he could be Satoshi Nakamoto.
Last month, Arthur Britto, the mysterious cofounder of Ripple’s XRP Ledger who created it along with Jed McCaleb and David Schwartz in 2012, posted to X for the first time since creating his account in August 2011—a message consisting of just an emoji of a face without a mouth.
Britto’s reappearance after over a decade of obscurity was seized on by holders of Ripple’s XRP, who speculated about what the timing of his return might mean just as the XRP price has soared to levels not seen since 2017 over the last year.
Britto—in contrast to McCaleb and Schwartz who are both public figures in the world of bitcoin and crypto—has no verified photographs online and has never given an interview, cultivating a degree of mystery to rival Satoshi Nakamoto.
"Satoshi’s last known message was in April 2011," one XRP fan account posted to X, going on to suggest bitcoin was merely a precursor to XRP. “May 2011: David Schwartz starts building the XRP Ledger. August 2011: Arthur Britto joins Twitter. Now, 14 years later Britto reappears… and 14 years old dormant bitcoin wallets just moved.”
On Friday, bitcoin saw its largest transfer on record, with more than $8 billion worth of bitcoin that were mined during the network’s earliest days that’s sometimes called the “Satoshi era” moving for the first time.
Eight wallets were spotted moving 10,000 bitcoin each to new addresses, with the identity of the wallets’ owner remaining unknown—though one researcher speculated they might belong to Roger Ver, an early bitcoin investor known as bitcoin Jesus before backing a bitcoin fork called bitcoin cash and running afoul of the U.S. IRS over $48 million of tax it claims is owed.
The 80,000 bitcoin are now in new wallets using a modern address format, something that could have been done to prevent against future quantum computing attacks.
"Sure would be interesting if someone like Arthur Britto happened to control Satoshi’s BTC wallet," another X user posted, while others also fanned the flames of the theory that included speculation David Schwartz might be Satoshi Nakamoto.
“What if I told you Satoshi has been hidden in plain sight this entire time,” another XRP fan account posted alongside a photo of Schwartz apparently taken in 2012, in which he’s sporting a bitcoin miner t-shirt.
Schwartz has previously denied he’s Satoshi Nakamoto, posting to X that theories suggesting he developed bitcoin with former Ripple executive and engineer Nik Bougalis are, "not true, but it’s plausible."
Satoshi Nakamoto has been linked to dozens of different people over the the years by internet sleuths, researchers and reporters, from an obscure, now deceased computer scientist called Hal Finney all the way through to Tesla billionaire Elon Musk and Twitter founder Jack Dorsey (one crypto exchange executive has claimed Satoshi Nakamoto’s identity might already be known by some).
Just last year, HBO documentary film maker Cullen Hoback named Peter Todd, a bitcoin core developer who has been involved with bitcoin since 2010, as who he believes to be the real-world identity of Satoshi Nakamoto, though he failed to produce proof.
Almost all of the most likely names associated with the Satoshi Nakamoto name have denied they are Satoshi Nakamoto, except for Australian computer scientist Craig Wright, who fought a multi-year legal campaign to be recognised as bitcoin’s creator despite being unable to produce evidence.
#OneBigBeautifulBill #BTCWhaleMovement #SpotVSFuturesStrategy

We all love that feeling of finding a bank note down the back of the couch, yet famous rapper 50 Cent stumbled across a Bitcoin fortune worth millions of dollars after rediscovering crypto coins that he'd 'lost' a few years prior.
The world of cryptocurrency is like an extreme version of stocks as prices are constantly in flux, but it can lead some lucky investors to become millionaires overnight after a hefty spike.
Often you'll see stories of long-term crypto gains though in the trusty few who have held strong over the years, as the world's first Bitcoin billionaires resisted the temptation to sell for over a decade as the coin bloomed in value.
Sometimes the best thing you can do when it comes to crypto is to simply forget about it, as while we've seen some celebrities benefit significantly from forgotten stock over the years, one man in particular turned $455,000 into several million without even realizing it.
🔸How much did 50 Cent earn from Bitcoin?
As reported by GQ, rapper 50 Cent made the then-bizarre decision to receive a payment of Bitcoin when selling his 2014 album 'Animal Ambition'. In total he earned 700 Bitcoin as part of the campaign, which at the time worked out to around $455,000.
For a man whose net worth was over $140 million at the time it's understandable that just over $455,000 wouldn't register any significant importance to him - especially as it was trapped in a bizarre new digital currency - but that might have been the best financial decision he has ever made.
Forgetting about it for four years, it was only in 2018 that 50 Cent finally remembered about the Bitcoin he'd earned from Animal Ambition after the cryptocurrency began to really take off and make national news.
At the time Bitcoin was worth around $10,000 per coin, making his overall holdings skyrocket from the meagre $455,000 to a jaw-dropping $7,000,000 total value.
How much is 700 Bitcoin worth in 2025?
Hopefully 50 Cent was smart enough to realize the potential of Bitcoin and continue to hold though, as the cryptocurrency has continued to climb in value and now sits at over $100,000 per coin - 10 times that of its 2018 value and nearly 1,600 times more expensive compared to when people handed the coin over in 2014.
700 Bitcoin is worth over $76 million today, marking a 173,434% increase from 2014 (Romain Costaseca/Hans Lucas/AFP via Getty Images)
At the time of writing, the exact value of Bitcoin is $109,078.99, so this across 700 coins would total an overall fortune of $76,355,293 - which would be nearly double his current net worth of $40 million according to AFROTECH.
It'll also be depressing to look back for anyone who handed over Bitcoin in exchange for 50 Cent's album, as it would have taken roughly 0.16 Bitcoin to purchase it (based on a single Bitcoin price of $62.8 and an album price of $10), which roughly works out to $17,452.64 today.
That could buy you 1745 copies of Animal Ambition, or work out as enough money to buy the album roughly every two and a half days since its June 3, 2014 release date.
#BTCWhaleMovement

Bitcoin has surged toward its all-time high in recent weeks, adding around 50% since dropping to its April lows as crypto changes the game for Elon Musk’s SpaceX and ChatGPT maker OpenAI.
The bitcoin price, which is braced for a “big” month ahead after the White House crypto czar teased a major update, has climbed to give bitcoin a total market capitalization of more than $2 trillion, with bullish traders predicting a looming bitcoin price boom.
Now, as traders eye “trillions and trillions” of dollars that remain on the sidelines, bitcoin and crypto-backing senator Senator Cynthia Lummis has introduced a bill to Congress she described as “groundbreaking.”
“This groundbreaking legislation is fully paid for, cuts through the bureaucratic red tape and establishes common-sense rules that reflect how digital technologies function in the real world,” Lummis said in a statement.
The bill would see small crypto transactions of less than $300 exempt from taxes, as well as crypto lending, and defer taxes on income generated from crypto mining and staking until the coins are sold.
It would also apply a typical 30-day wash rule to crypto, removing a loophole that has allowed crypto investors to sell at a loss only to buy back in again while still claiming a tax deduction.
Lummis highlighted estimates from the congressional joint committee on taxation that estimated the bill would generate about $600 million through 2034.
“We cannot allow our archaic tax policies to stifle American innovation, and my legislation ensures Americans can participate in the digital economy without inadvertent tax violations,” Lummis said.
Lummis had tried to squeeze the crypto tax reforms into U.S. president Donald Trump’s so-called "one, big, beautiful" bill but ran out of time before the Senate sent it to the House.
Trump’s "one, big, beautiful bill," designed to overhaul the U.S. tax-and-spend landscape and power the country’s next phase of growth while adding an expected $3 trillion of debt and raising the debt ceiling by $5 trillion, has been passed by the House of Representatives.
House Republicans have meanwhile declared the week beginning July 14 "crypto week," in which policymakers will focus on three major crypto bills—the stablecoin Genius Act, the market structure Clarity Act and the Anti-CBDC [central bank digital currency] Surveillance State Act.
The Trump administration’s pro-bitcoin and crypto agenda has been named as a catalsyst for a bitcoin price break out in coming months.
“We expect bitcoin to print new all-time highs in the second half of the year, buoyed by growing ETF [exchange-traded fund]
and corporate treasury flows, as well as U.S. policy and regulatory developments,” Geoff Kendrick, global head of digital assets research at Standard Chartered Bank, said in an emailed note.

Spot bitcoin ETFs, led by the world’s largest asset manager BlackRock, as well as so-called bitcoin treasury companies that have sprung up in the wake of Michael Saylor’s bitcoin-buying giant Strategy, have hoovered up more than $100 billion worth of bitcoin between them in the last few years.
#NFPWatch #TrumpVsMusk #REX-OSPREYSolanaETF #DYMBinanceHODL

Someone just threw $20,000 into the digital equivalent of a black hole — an untouched Bitcoin address belonging to the Satoshi Nakamoto.
The transfer, made June 30 to Nakamoto's original wallet address, adds to the $117 billion in Bitcoin that's been frozen there since 2011, when Bitcoin's inventor disappeared without a trace.
The $20,000 is one of many puzzling one-way transfers to this dead-end address. Some appear to be costly mistakes — wrong digits entered during exchange withdrawals. Others might be intentional tributes, like digital flowers left at a crypto shrine. In February, someone sent $200,000 worth of Bitcoin to Nakamoto's wallet after withdrawing funds from Binance. "A $1.17 million transfer occurred one year ago from address bc1***6v2," reports Crypto News,"representing the largest single donation on record. This was followed by smaller amounts, including $67,790 two years ago and $41,670 three years ago."
#REX-OSPREYSolanaETF #OneBigBeautifulBill #TrumpVsMusk

Maxwell hardfork reduces BNB Chain block time to 0.75 seconds, doubling transaction speed for smoother GameFi and NFT activity.Enhanced node syncing and validator communication aim to stabilize network performance under high demand.

BNB Chain has officially launched its Maxwell hardfork. As revealed, this newly introduced update aims to help strengthen the user experience across the blockchain. 
This is especially necessary in sectors such as GameFi, NFTs, and decentralized finance. The update comes amid growing interest in faster, more stable crypto networks. Importantly, this sets the stage for major throughput improvements on the Binance-backed chain.
Maxwell Hardfork Cuts Block Time, Boosts Performance 
According to reports, the Maxwell hardfork went live on June 30, 2025, marking a major milestone in BNB Chain’s push for better speed and efficiency. As mentionedin our previous news article, this upgrade reduces the BNB Smart Chain (BSC) block time in half, from 1.5 seconds to 0.75 seconds. By doing so, it effectively doubles the chain’s transaction capacity.
Additionally, the Maxwell upgrade follows April’s Lorentz fork, which had already improved block time from 3 seconds to 1.5 seconds. Developers and users reported better dApp responsiveness and smoother DeFi performance after that rollout. Now, Maxwell takes those improvements a step further.
Still, alongside shorter block intervals, the hardfork also introduces a new protocol: BEP-524. This protocol is what enables the 0.75-second block time. It supports faster transactions, such as token swaps, NFT minting, and in-game actions, in blockchain-based games. 
It is worth noting that these changes are expected to make BNB Chain more appealing to developers and players in the GameFi space. Similarly, validator communication has also been improved. In addition, Maxwell adjusted the peer-to-peer messaging system by reducing sync delays when nodes exchange information. 
As a result, the network can remain stable and quick even under heavy use. The BEP-564 standard, introduced in this hardfork, adds two key message types. They include GetBlocksByRangeMsg and RangeBlocksMsg. These help nodes sync large sets of blocks at once, improving both speed and reliability.
BNB Token Reacts as Chain Shows Signs of Strength
It is essential to note that the BNB Chain upgrade occurs at a time when the broader cryptocurrency market is showing strength. For example, the leading cryptocurrency Bitcoin is currently trading at $107,018.18. According to Marketcap, BNB is currently trading at $653.68 after rebounding 2.2%from a support level of $642.

Daily trading volume has increased, suggesting heightened interest in the token as the hard fork takes effect. Analysts believe BNB could aim for the $720 resistance level next. If momentum continues, $760 may be the next target. However, caution remains, as any sudden sell-off could pull prices back to the $520–$540 range.
Maxwell may be a technical upgrade, but its impact could reach far beyond backend performance. With faster speeds and improved syncing, BNB Chain aims to lead the way in user experience for Web3 platforms.
In another important development related to BNB, CNF has reported that Nano Labs, a blockchain infrastructure company based in China, has committed $500 million to purchase Binance’s BNB token. The investment will be made through a private placement deal using convertible promissory notes.
Additionally, as highlighted in our previous news article, global digital asset exchange giant Binance has launched the DeFi App (HOME), which airdrops rewards for BNB Holders.
$BNB

Jupiter’s PERPS platform saw massive user adoption, driving high trading activity on Solana.The $470M in fees signals strong performance and trust in Jupiter’s perpetual ecosystem.

Jupiter Exchange’s derivatives platform, Jupiter PERPS, has earned nearly $470 million in fees since launching on the Solana network. That’s no small amount—especially considering that other big players in the space took much longer to reach that figure. It’s a strong signal that the market is really starting to take notice of Solana, not just because of its speed, but also because its DeFi ecosystem is starting to feel more practical.
Fees that high are usually an indicator of how often a platform is used. It means that active traders are really comfortable with Jupiter PERPS.
Some say its execution is fast, while others point to its easy interface. But whatever the reason, the money speaks for itself—$470 million is certainly not a figure to be taken lightly. And what’s more, the number continues to grow, indicating that liquidity is still flowing.

Jupiter Gears Up for Lending Revolution with Summer Launch
On the other hand, CNF previously reported that Jupiter is preparing to launch Jupiter Lend this summer. The concept is arguably quite ambitious: they want to create a DeFi lending platform that feels as simple as the click of a button.
No more complicated forms, unreasonable interest rates, or processes that make users think twice. The digital vault they designed is also claimed to be suitable for long-term strategies.
Looking at the ecosystem they have built recently, it seems that Jupiter is serious about locking in a position as the backbone of DeFi on Solana. In May, for example, they integrated Chainlink Data Streams into their perpetual system.
The goal is not only to make real-time prices more accurate, but also to reduce frontrunning practices that often harm retail traders. This integration also speeds up execution and strengthens user trust. And yes, all of this is still carried out with a touch of decentralization which is their main value.
Token Transparency Becomes a Serious Concern
Furthermore, Jupiter is also trying to answer a problem that other projects rarely touch on—namely, token transparency. In early April, they introduced Jupiter VERIFY, a badge-based verification system to distinguish tokens that are truly trustworthy from those that are just passing through.
There are several types of badges: Blue Chip, Community Assisted, Social ID, and C.A.T. Reports. It’s all about letting users know which tokens have a good reputation and which ones to watch out for. Not only that, but it also helps reduce the risk of fraud on the Solana network.
Besides that, as of press time, their native token JUP is changing hands at about $0.4348, up 4.21% over the last 7 days, driving its market cap to surpass the $1.30 billion mark.
$SOL $JUP #TrumpVsMusk #REX-OSPREYSolanaETF #DYMBinanceHODL

Deutsche Bank’s crypto custody push the signals of growing institutional trust and long-term support for digital assets.Though the immediate price impact may seem to be minimal, broader adoption could reinforce Bitcoin’s role as a strategic store of value.

Yesterday, the Deutsche Bank (DB), a major European financial institution, announced its intention to launch a crypto custody service by 2026, aiming to meet the rising demand for institutional digital asset storage. Furthermore, DB isn’t stopping at custody. According to its head of digital assets, the bank is also exploring stablecoins and forms of tokenizeddeposits.
This following update is in line with a recent Crypto News Flash (CNF) report, discussing that DB was also actually considering to launching a stablecoin or joining a wider push into tokenized deposits for digital efficiency.
This development, reported across multiple sources including Bloomberg, involves several partnerships focusing on secure storage for cryptocurrencies like Bitcoin. As stated:
The German lender said earlier this month that it is examining stablecoins and different forms of tokenized deposits. This could include issuing its own token or joining an industrywide initiative, Bloomberg News reported. Deutsche Bank is also assessing whether to develop its own tokenized deposit solution for use in payments, according to the lender.
Adding to this narrative, recent reports also note that DB’s move comes amidst a wave of traditional finance institutions doubling down on digital assets.
Its peers like Sparkassen and DZ Bank are rolling out trading and custody services for retail and institutional clients alike. To understand the market reaction and implications for major cryptocurrencies like Bitcoin, we discuss further below.
Market Reaction and Analysis of Bitcoin Price Implications
Reiterating a previous CNF coverage highlighting that Deutsche Bank sees Bitcoin as digital gold and a strategic asset, while the US Bitcoin Reserve could redefine global financial standards, the immediate impact of DB’s announcement on Bitcoin’s price appears less significant at the moment—as evidenced by the lack of a sharp price increase on July 1, 2025.
However, the long-term implications may be likely positive. At the time of writing, Bitcoin (BTC) is currently trading at approximately $107,686.70, reflecting about a 1.02% increase in the past day and 0.91% in the past week, according to CoinMarketCap data.
To this end, Bitcoin’s market price performance is showing resilience and attracting institutional strategy. If Deutsche Bank and its peers succeed, 2026 could mark a pivotal year when crypto custody becomes standard in the banking league. See the BTC price chart below.

$BTC $XRP $SOL