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Powell made the remarks on Wednesday during his second day of testimony before the U.S. Senate’s Committee on Banking, Housing, and Urban Affairs.
Bitcoin Rises as Powell Acknowledges Crypto’s Mainstream Adoption
U.S. Federal Reserve Chairman Jerome Powell was on the hot seat for the second day in a row, this time in front of the U.S. Senate’s Committee on Banking, Housing, and Urban Affairs, where he acknowledged that crypto is no longer a dodgy industry that should be shunned but rather a promising innovation that is “maturing” and “becoming much more mainstream.” The broader crypto market inched up 0.10% on the news, while bitcoin rose 1.38%, trading as high as $108K in the morning.
Powell was conducting his Semi-annual Monetary Policy Report to the Congress, where he testifies before the House and the Senate twice a year. Cynthia Lummis, Wyoming’s Republican Senator and so-called “Crypto Queen,” blasted Powell for his role in Operation Choke Point 2.0, a Biden-era effort to debank the crypto industry. She acknowledged that the Fed is now more receptive to digital assets but also challenged Powell on language contained in Section 9(13) of the Federal Reserve Act.

The language in the act states that “issuing tokens on open, public, and/or decentralized networks, or similar systems is highly likely to be inconsistent with safe and sound banking practices.” Given Powell’s softer stance on crypto, Lummis asked him how his views had changed and whether the language in the act, which was adopted by the Federal Reserve Board in 2023, would be taken out.
“What has changed is that if you go back, that’s a couple of years ago, that was a period of high-profile failures and fraud,” Powell explained. “What has happened is that the industry is maturing, our understanding of it is improving, and in a sense it’s becoming much more mainstream.”
Regarding striking out the negative language in the act, Powell appeared non-committal and told Lummis he would get back to her.
Overview of Market Metrics
Powell’s remarks weren’t the only reason for bitcoin’s positive performance today, but they certainly helped. The cryptocurrency traded between $105,359.97 and $108,168.40 and is currently priced at $107,364.36 at the time of reporting, a 1.25% gain since yesterday and a 3.05% increase over the past week. However, trading volume fell by 14.25% to $51.05 billion despite the bullish momentum.

Bitcoin’s total market capitalization rose to $2.13 trillion, up by 1.39% since yesterday. BTC dominance climbed to 65.72%, a significant 0.71% increase and the highest it has been since January 2021.

Futures markets showed total BTC open interest jumping 4.85% to $73.31 billion, according to Coinglass data. The derivatives market paints a positive picture for bulls over the last 24 hours. Roughly $71.39 million in bitcoin positions was liquidated. Bears’ short liquidations totaled $60.46 million and long liquidations were a relatively smaller $10.93 million.
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The SEC’s extended deadline gives broker-dealers a critical buffer to overhaul systems, streamline daily reserve computations, and capitalize on new digital asset custody flexibility.
SEC Pushes Back Reserve Computation Rule Deadline for Broker-Dealers
The U.S. Securities and Exchange Commission (SEC) announced on June 25 that it is extending the compliance deadline for its amended Rule 15c3-3 from the original date of Dec. 31, 2025, to a new deadline of June 30, 2026. The rule, known as the Customer Protection Rule, requires certain broker-dealers to shift from weekly to daily computations of customer reserve requirements—a significant operational change aimed at improving financial safeguards.
SEC Chairman Paul S. Atkins explained the rationale behind the delay:
The days of unreasonable deadlines have passed. By extending this compliance date, we are giving broker-dealers additional time to implement daily computation under Rule 15c3-3.
“I am pleased the Commission agrees that additional time is necessary to allow broker-dealers to avoid operational challenges with meeting the initial compliance date,” he added.
This rule impacts broker-dealers handling customer assets classified as securities, which includes digital asset securities. In a pivotal move in May 2025, the SEC withdrew its 2019 Joint Statement, which had imposed rigid conditions on broker-dealers seeking to custody digital asset securities. The withdrawal allows firms to establish control over these assets using Rule 15c3-3(c) compliance methods, even if the assets are uncertificated. Control can now be demonstrated through qualified custodians, such as banks, simplifying custody arrangements for digital asset securities.
Notably, the requirement does not apply to all digital assets—only those considered securities under U.S. law. This means that non-security digital assets, such as bitcoin, are excluded from the rule’s reach. “This extension will provide more time for broker-dealers to make any necessary systems or operational changes to implement a daily computation requirement and test their new daily processes for compliance,” the SEC concluded.
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The tech giant has achieved a 20-fold reduction in the computing resources required to break modern cryptographic algorithms such as Rivest-Shamir-Adleman (RSA).
NYDIG Warns: Google’s Quantum Research Could Endanger Bitcoin
Bitcoin innovation firm New York Digital Investment Group (NYDIG) published an article on Friday discussing Google’s recent quantum computing breakthroughcapable of breaking RSA encryption using only one million quantum bits (qubits), down from 20 million qubits just a few years ago. Although the development doesn’t put Bitcoin at risk, NYDIG warns that it’s only a matter of time before the cryptocurrency’s security becomes vulnerable to quantum computer attacks.
RSA is one of the most widespread encryption algorithms in modern communications. It’s used in web browsers, virtual private networks (VPNs), email, and many other areas. It relies on the mathematical difficulty of factoring large numbers, but in 1994, a little-known mathematician by the name of Peter Shor crafted an algorithm that can theoretically break RSA encryption if implemented by a sufficiently powerful quantum computer.

In 2019, Google concluded that a computer capable of such an attack would require 20 million qubits. But just last month, the tech giant announced that recent technological advancements have whittled down the required processing power to only one million qubits. Even then, no such computer exists right now. Current quantum computers have anywhere from 100 to 1,000 qubits. As for Bitcoin, it doesn’t even use RSA, but that doesn’t mean the cryptocurrency won’t be at risk in the future.
“Bitcoin uses the Elliptic Curve Digital Signature Algorithm (ECDSA) or Schnorr for digital signatures,” the NYDIG article states. Schnorr signatures are a simpler and more efficient alternative to ECDSA. “Nevertheless, ECDSA and Schnorr would likely be vulnerable to QCs sometime in the future,” the article adds.
Fortunately, work on post-quantum cryptography (PQC) is already in full swing and multiple PQC digital signatures already exist. While many in the Bitcoin community disagree on whether quantum computers pose an imminent threat to the cryptocurrency’s security, everyone is on the same page about the inevitability of replacing Bitcoin’s current signature schemes. But that upgrade will come at a cost.
“Practically speaking, these algorithms produce much larger keys and signatures and require more time to sign and verify,” the NYDIG article explains. “This would impact Bitcoin’s performance, block space efficiency, and ultimately how users interact with the network.”
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Nasdaq-listed Chinese tech firm Aurora Mobile plans to convert up to 20% of its cash reserves into bitcoin and other digital assets, joining the wave of public companies turning to crypto for treasury diversification.
China-Based Aurora Mobile Joins Growing List of Crypto Treasury Adopters
Aurora Mobile (Nasdaq: JG), a Shenzhen-based marketing technology firm, has become the latest publicly traded company to embrace crypto as part of its treasury strategy. The company’s board has approved a plan to convert up to 20% of its cash and cash equivalents into digital assets, including bitcoin, ether, solana, and sui.
The move is aimed at “preserving and enhancing asset value while supporting its strategy to expand market coverage,” according to the company’s statement.
As of its most recent earnings report, Aurora holds approximately $15.8 million (113.6 million yuan) in cash, suggesting that it may allocate up to $3 million into crypto investments.
Aurora’s announcement aligns with a broader trend of companies adopting bitcoin and other cryptocurrencies as reserve assets. Aurora’s stock jumped in pre-market trading following the announcement, underscoring investor enthusiasm for crypto-aligned strategies.
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Chinese authorities are ramping up efforts to enhance the international status of the yuan and reduce reliance on the U.S. dollar, particularly as confidence in the dollar wanes.
Dollar Decline Aids Yuan
China is intensifying efforts to elevate the yuan’s international standing and challenge the U.S. dollar’s global dominance, seizing an opportune moment as international confidence in the greenback falters. Beijing’s aim is to diversify global currency use even as the dollar remains the world’s predominant currency.
Beijing’s ambition to internationalize the yuan is buoyed by exceptionally favorable market conditions. The U.S. dollar index has plummeted by more than 9% this year, while the offshore yuan has strengthened by over 2% against the weakening dollar.
The report that China is now actively growing yuan acceptance globally comes amid increasing efforts by the so-called Global South to de-dollarize. Championed primarily by Russia after it was slapped with Western sanctions, the de-dollarization campaign has encouraged countries opt to settle trade with their own currencies. There has also been talk of launching an alternative reserve currency, but no concrete steps towards attaining this goal have been made.
Although China has been sympathetic to the de-dollarization cause, the country has until recently largely avoided openly seeking to replace the dollar with its currency. However, this appears to be changing, as evidenced by People’s Bank of China Governor Pan Gongsheng’s recent speech, in which he discussed “how to weaken excessive reliance on a single sovereign currency.”
Gongsheng also revealed plans for a new center dedicated to digital yuan internationalization in Shanghai and a push to promote trading of yuan foreign exchange futures. This builds on China’s existing rollout of a digital yuan designed to replace some physical cash.
Chinese Capital Controls Remain a Hindrance
According to a CNBC report, much of China’s recent strategy centers on expanding access to its futures market. To illustrate, recently, three major Chinese exchanges announced that qualified foreign institutional investors can now trade 16 additional futures and options contracts, including commodities like natural rubber, lead and tin. This follows dozens of other tradable futures contracts added for foreign investors earlier this year, according to Zhou Ji, a macro foreign exchange innovation analyst at Nanhua Futures.
Zhou emphasized that these expansions broaden hedging options for international institutions. They also amplify the yuan’s influence within the global commodity pricing system. In another step to encourage yuan usage, the Shanghai Futures Exchange is exploring a proposal to allow foreign currencies as collateral for yuan-settled trades.
Other incremental but significant steps include permitting qualified foreign investors to participate in on-exchange exchange-traded fund options trading for hedging purposes starting Oct. 9. Earlier this year, authorities also reportedly waived a $70 (500 yuan) fee for international financial institutions opening local accounts for bond market access.
However, while global financial institutions are keen to diversify into China, concerns over the country’s strict capital outflow controls are believed to have hindered large-scale buying of mainland Chinese assets.
Meanwhile, besides investment products, China has systematically built a vast network of offshore yuan clearing banks and championed its cross-border interbank payment system. A recent U.S. Federal Reserve analysis indicated a growing trend of Chinese banks lending to emerging market economies in yuan rather than U.S. dollars, partly driven by lower lending costs.
Despite these efforts, the yuan saw a slight decline in international use in May, dropping to 2.89% of transactions by value, according to Swift’s RMB Tracker. The U.S. dollar, in contrast, accounted for 48.46% of global payments, followed by the euro at 23.56%.
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Kraken’s MiCA license unlocks seamless access to 30 European markets, fueling its expansion with unified compliance, elevated trust, and a powerful edge in regulated crypto services.
With MiCA License, Kraken Unifies European Crypto Compliance and Broadens Reach
Regulatory clarity in the European Union has opened the floodgates for licensed crypto expansion, offering major players a gateway to 30 Economic Area member states. Cryptocurrency exchange Kraken announced on June 25 that it has secured a license under the European Union’s Markets in Crypto-Assets Regulation (MiCA) from the Central Bank of Ireland (CBI).
This authorization enables Kraken to operate regulated crypto services across the entire EEA bloc. The company described the move as transformational for its regional footprint:
This marks a pivotal milestone in our European expansion, unlocking the ability to scale faster across the region by offering regulated services and engaging directly with clients across all 30 EEA member states.
Kraken already maintains Virtual Asset Service Provider (VASP) registrations in markets like France, Belgium, and Spain, but the MiCA license brings cohesion and reach to its previously fragmented compliance framework.
The firm emphasized the strategic importance of this regulatory recognition. Co-CEO Arjun Sethi stated:
Being the first major global crypto platform to receive authorization from the CBI affirms Kraken’s commitment to building for the long term.
He added that securing approval from such a stringent regulator is “a powerful signal of Kraken’s commitment to expanding the crypto ecosystem through responsible innovation.” This license aligns with existing MiFID and EMI approvals already held by Kraken, positioning the firm to broaden offerings in areas such as derivatives, payments, and institutional-grade services across the continent.
By adhering to MiCA’s uniform standards, Kraken enhances user trust with stronger consumer protections, increased transparency, and enhanced oversight. As debates continue over crypto’s regulatory risks, Kraken’s regulatory path underscores how harmonized frameworks can support scale while reinforcing investor safeguards.
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At BTC Prague 2025, Strategy Executive Chair Michael Saylor told a large crowd of bitcoin supporters he expects the leading cryptocurrency to climb to $21 million per coin within 21 years, growing roughly 21% annually as adoption spreads from Capitol Hill to Wall Street.

Strategy Founder Calls Bitcoin the Best Asset of the Century
Saylor opened his keynote, titled “The Power of 21,” by contrasting bitcoin’s 55% rise last July with lagging returns for the Nasdaq, S&P 500, and even gold. He argued that despite bitcoin’s trillion-dollar market capitalization, it still represents less than 0.1% of global wealth, leaving a great deal of room to expand.
He credited “extraordinary” developments over the past 11 months for quickening that trajectory. Saylor pointed to a U.S. administration that now publicly backs bitcoin (BTC), a roster of pro-crypto Cabinet officials, and three bills moving through Congress: the Clarity Act, the Genius Act, and the Bitcoin Act.
He also highlighted $150 billion in recent Wall Street inflows tied to 1.4 million BTC as evidence of deepening institutional interest. Performance figures, he said, speak for themselves: bitcoin has advanced 61% in the past year and averages a 56% annualized return this decade—more than double returns for both the S&P 500 and the so-called Magnificent Seven.
“Only one asset clears the 13% cost-of-equity hurdle,” Saylor told the audience, contending that corporations are awakening to the math.
Projecting forward, Saylor forecast a 28.5% compound annual return tapering toward 21% as bitcoin’s market value approaches “hundreds of trillions.” Volatility, now in the mid-40% range, should keep cooling yet remain higher than the stock market’s VIX reading of 16—volatility, however, he called it “vitality,” and insisted it is not a bug.
“What will you do with this 21‑year head start?” Saylor asked the BTC Prague audience. “You possess information that 99.8% of global capital does not yet grasp.”
The Strategy executive added:
Build a money‑making machine, plug it into the Bitcoin network, and compound extraordinary wealth. You can change the destiny of your family, your community, even humanity
The executive laid out three primary wealth-building strategies: dollar-cost averaging $50,000 a year in BTC, employing long-term leverage at rates below 10%, and adopting a bitcoin-treasury corporate model that sells small equity stakes at premium valuations. Under favorable assumptions, he claimed, a disciplined mix could turn $2 million into more than $700 million over two decades.
Saylor credited early supporter Hal Finney for envisioning eight-figure prices in 2009 and declared that the network has reached “criticality,” immune to shutdown. He argued that broader participation remains limited— BTC still accounts for only 0.2% of global wealth—but said that gap signals an untapped upside rather than a missed opportunity.
Closing the 45-minute address, Saylor urged attendees to craft a 21-year plan, ignore daily price swings, and “feed the machine” of the Bitcoin network. “Volatility is Satoshi’s gift,” he said, framing price turbulence as the equalizer that keeps bitcoin within reach of everyday savers.

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Russia is fast-tracking a nationwide digital currency revolution, mandating banks and major retailers to adopt the digital ruble in a sweeping payments system overhaul.
Digital Ruble Rollout Accelerates With Mandatory Integration Deadlines
A sweeping overhaul of Russia’s retail payments sector is on the horizon as the digital ruble, Russia’s central bank digital currency (CBDC), edges closer to full-scale adoption with newly proposed deadlines. Tass reported June 25 that the Bank of Russia submitted a phased rollout plan to the State Duma requiring banks and merchants to comply with digital ruble regulations startingSept. 1, 2026.
Initially, the country’s largest banks must enable clients to transact in the digital national currency, while major retailers—those earning over 120 million rubles ($1.9 million) annually and banking with these institutions—will be required to process payments in digital rubles. The central bank was quoted as saying that from Sept. 1:
Trade companies that are clients of the largest banks and whose revenue for the previous year exceeds 120 million rubles ($1.9 mln) will have to open their infrastructure for digital rubles and enable payments for goods and services in the digital national currency.
Additional deadlines extend the compliance obligation to other entities. Universal license banks and their merchant clients with annual turnover above 30 million rubles must integrate digital ruble systems by Sept. 1, 2027. All remaining banks and sellers—excluding those with revenue below 5 million rubles—must follow suit by Sept. 1, 2028. The Bank of Russia noted these timelines were set after consultations with ministries, agencies, and industry players, ensuring adequate time for technical adjustments.
Russia’s central bank digital currency rollout, initially set for July 2025, was postponed to mid-2026 due to technical and regulatory challenges. The central bank of Russia cited the need for further consultations with banks and the development of an economically viable model for clients as reasons for the delay.
The digital ruble will operate via a universal QR code system powered by the National Payment Card System. Banks must be ready for this QR-based infrastructure by Sept. 1, 2026, with specific connection schedules determined by the central bank’s board. Though this signals tighter regulatory oversight and digitization of commerce, crypto advocates caution that state-controlled digital currencies reduce user autonomy and innovation compared to decentralized alternatives.
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Bitcoin ETFs added another $589 million to their coffers, marking an impressive 11th straight day of inflows, with Blackrock’s IBIT once again dominating. Ether ETFs also stayed in positive territory with a $71.24 million net gain.
Crypto Funds Ride Institutional Momentum as Bitcoin and Ether ETFs Stay in the Green
Momentum in the crypto exchange-traded fund (ETF) space remained unshaken on Tuesday, June 24, as bitcoin ETFs locked in their 11th consecutive day of net inflows, drawing a total of $588.55 million. Even more telling, institutional confidence appears concentrated, as Blackrock’s IBIT alone absorbed $436.32 million, accounting for nearly 75% of the day’s activity.
Following IBIT, Fidelity’s FBTC pulled in a strong $85.16 million, while Ark 21Shares’ ARKB netted $43.85 million. Additional support came from Bitwise’s BITB ($9.76 million), Grayscale’s Bitcoin Mini Trust ($7.49 million), and Vaneck’s HODL ($5.97 million). Trading activity remained robust with $3 billion in daily volume, lifting total net assets for bitcoin ETFs to $130.28 billion.

Meanwhile, ether ETFs continued their winning streak with a $71.24 million net inflow, despite some friction. Blackrock’s ETHA dominated, posting $97.98 million in inflows. However, Fidelity’s FETH saw a sizable $26.74 million outflow, slightly tempering the overall bullish print. Still, ether ETF volume stayed healthy at $562.18 million, with net assets climbing to $9.87 billion.
As digital assets trend upward, ETFs are proving to be a reliable barometer of institutional conviction. Bitcoin may lead the charge, but ether is holding steady, signaling strength across both asset classes.
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The recent data breach compromising 16 billion login credentials has raised questions about the relevance of passwords. Some experts argue it’s time to abandon reliance on centralized databases and embrace a privacy-first mindset that leverages decentralization.
Call For Shift to ‘Privacy-First’ Mindset
The bombshell revelation of a massive data breach, compromising 16 billion login credentials, has plunged internet users into a fresh wave of anxiety, sparking fears that cybercriminals are already pilfering personal accounts. Though security experts are urging immediate password changes, a critical counterargument posits that this reactive measure offers no true safeguard against future, identical incursions.
Instead of the conventional focus on merely changing passwords, experts interviewed by Bitcoin.com News contend that the recent breaches necessitate a radical paradigm shift. They argue it’s time to abandon reliance on centralized databases storing sensitive user information and embrace a privacy-first mindset that fundamentally leverages decentralization.
Shahaf Bar-Geffen, CEO of COTI, also argued that while societies have historically placed trust in “authorities” and institutions, this mindset is ill-suited to serve people well in the virtual spaces that increasingly mediate our lives.
“The traditional, trust-based world is not suited to the online world, and yet it’s still the dominant mode of operation. Business online often leads to traditional endpoints that leave a trail of exposed credentials across platforms,” Bar-Geffen explained.
This viewpoint is shared by Nanak Nihal Khalsa, co-founder of Holonym, who argues that companies are only sticking with this model because it’s cheap. He stated: “The problem is companies are still using these instead of decentralized alternatives because they are cheap and convenient. But, there are safer and more effective ways to authenticate users and/or store their sensitive data.”
One such way, according to Bar-Geffen, is the use of decentralized and encrypted data that can be accessed without needing to be deciphered, through innovations like Zero-Knowledge Proofs (ZKPs) and Homomorphic Encryption.
As reported by Bitcoin.com News, researchers at Cybernews who uncovered the breach said it was not just a leak but “a blueprint for mass exploitation.” Other experts warn that cybercriminals can leverage the leaked datasets to intensify identity theft, phishing and system intrusions.
Still, for others, the massive breach calls into question the relevance of passwords in this age where cybercriminals are ever becoming more sophisticated. While talk of eliminating passwords altogether has subsisted for a decade, Khalsa argues that no clear alternative has emerged to justify dispensing with the password paradigm. Concerning passkeys, which some tout as viable alternatives to passwords, the Holonym co-founder said:
“There’s a common rumor that passkeys will replace passwords. But passkeys are typically synced in our cloud accounts that ultimately rely on passwords. Cryptographic keys also can be used but are difficult to manage. Their recovery techniques tend to rely on accounts that need passwords.”
Meanwhile, Bar-Geffen believes tools such as decentralized identity, ZKPs and crypto wallets already act as “secure, user-controlled access and permission methods.” However, the challenge, Bar-Geffen argues, is getting companies, governments and users to adopt the privacy-first approach. He also highlights why adoption of the privacy-first approach in the artificial intelligence (AI) era is crucial.
“There’s also the incoming issue of AI. It’s important to transition to a new model (self-sovereign and permissioned privacy) because AI automation is proliferating, which will exacerbate the scale of data breaches, and we could even see the internet rendered unusable without a new model for privacy,” the COTI executive said.
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The NYSE and SEC are actively discussing fast-tracked integration of tokenized assets, aiming to align crypto innovation with established market rules and regulatory clarity.
Behind the NYSE-SEC Crypto Talks: Tokenized Assets May Hit Trading Floors Fast
The U.S. Securities and Exchange Commission’s (SEC) Crypto Task Force met with representatives from the New York Stock Exchange (NYSE) on June 24 to evaluate how digital asset regulations could align with existing financial frameworks. A memo from the SEC Crypto Task Force noted:
The topic discussed was approaches to addressing issues related to regulation of crypto assets.
Discussions focused on mitigating regulatory fragmentation across traditional and crypto markets. NYSE representatives—including General Counsel Jaime Klima, Chief Product Officer Jon Herrick, Associate General Counsel Patrick Troy, and Chief Regulatory Officer Tony Frouge—advocated for “parity among market participants” and cautioned against “disparate regulatory regimes for similar assets and entities,” according to the meeting notes. The exchange outlined considerations for listing and trading tokenized equities—traditional securities issued on blockchain infrastructure—and presented preliminary ideas for generic listing standards for spot crypto exchange-traded products (ETPs).
Regulatory treatment of other crypto-based ETPs was also addressed, with the NYSE seeking clarity on how such products might be integrated into current listing frameworks. The conversation reflects a shared intent to reduce uncertainty and foster responsible innovation while preserving market integrity.
The SEC’s Crypto Task Force conducts both public roundtables and private meetings to shape policy. Roundtables welcome broad input on themes like tokenization, custody, and decentralized finance (DeFi), while one-on-one meetings—such as those with Blackrock, JPMorgan, or NYSE—offer targeted discussion of firm-specific compliance strategies. This dual format allows the SEC to balance broad-based feedback with detailed operational insights, supporting regulatory development in a complex and evolving digital asset environment.
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South Korea’s central bank is advocating for a phased introduction of won-denominated stablecoins, initially prioritizing regulated commercial banks for their issuance.
Stablecoins Could Significantly Influence Korean Monetary Policy
South Korea’s central bank is advocating for a phased introduction of won-denominated stablecoins, prioritizing rigorously regulated commercial banks for initial issuance. According to Ryoo Sang-dai, senior deputy governor of the Bank of Korea (BOK), this approach aims to manage the potential impact of these digital assets on monetary policy and financial stability.
According to a report, this stance aligns with South Korea’s left-leaning President, Lee Jae Myung, who is reportedly moving to fulfill his election promise to permit companies to issue won-based stablecoins. Myung’s Democratic Party is said to be proposing legislation to establish the necessary regulatory framework, aiming to keep the country competitive in the evolving digital asset landscape.
“It is desirable to first allow banks, which are under a high level of regulations, to issue (won-based stablecoins) and gradually expand to the non-bank sector with the experience,” Ryoo reportedly said.
The senior BOK executive underscored that introducing stablecoins could significantly influence monetary policy and the transaction settlement system. He reiterated previous concerns from BOK Governor Rhee Chang-yong regarding capital flows and stressed the necessity of a robust safety net to prevent financial market disruption and ensure user protection.
Looking ahead, Ryoo confirmed that the central bank plans to consult with major commercial banks to prepare a second pilot test for its central bank digital currency (CBDC) as the new administration’s policy direction becomes clearer. The central bank’s initial CBDC pilot, a joint project with the Bank for International Settlements launched in late 2023, is set to conclude next week.
Reflecting the broader trend of digitalization, Ryoo also indicated that authorities would accelerate market reform efforts to open South Korea’s currency market further to foreign investors, building on a year of extended trading hours and increased overseas participation.
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The price of oil is now lower than it was before the Israel-Iran war and concerns of a global supply disruption have all but vanished.

BTC Recovers While Oil Slides
Bitcoin appeared to have regained its footing Tuesday morning while oil prices continued their decline after U.S. President Donald Trump gave China the greenlight to continue purchasing oil from Iran, following the Islamic Republic’s conflict with Israel.
Iran is one of the world’s top oil producing nations, pumping out roughly 4 million barrels per day. Economists had been bracing for a disruption in oil supply after Israel launched an attack on the country on June 13. Then on Saturday, the U.S. bombarded three key Iranian nuclear sites in what the Pentagon described as “the largest B-2 operational strike in U.S. history.”
Iran subsequently threatened to close off the Strait of Hormuz, a trading route for roughly 20% of global oil-related traffic, but it never followed through with its threat, easing concerns of a potential oil supply shortage. Bitcoin jumped on the news as oil prices retreated.

(Crude oil prices are now lower than they were right before the start of the Israel-Iran war / Trading Economics)
Then today, after Trump gave the nod to China, Iran’s largest oil customer, to continue doing business with the Islamic Republic, oil prices subsided even more, while BTC rose above $105K.
“China can now continue to purchase oil from Iran,” the president wrote on Truth Social. “Hopefully, they will be purchasing plenty from the U.S., also. It was my great honor to make this happen!”
Overview of Market Metrics
Bitcoin has made somewhat of a comeback over the past 24 hours. The cryptocurrency has climbed 3.24% and was trading at $105,755.74 at the time of reporting. BTC’s daily price range has fluctuated between $102,471.89 and $106,316.83. From a seven-day perspective, bitcoin is also in positive territory, up 1.63% as fears of a spike in oil prices due to the Israel-Iran conflict dissipate.

( BTC price / Trading View)
The uptick in price was accompanied by an increase in activity across the board. Daily trading volume rose 12.92% to $61.40 billion, and total market capitalization reached $2.10 trillion, mirroring the 3.24% daily gain. BTC dominance slid by 0.14% but remains above the 65% threshold at 65.24.

( BTC dominance / Trading View)
Open interest for bitcoin derivatives was up 3.07% to $69.69 billion and liquidations topped $114.62 million. Short sellers bore the brunt of the action, with Coinglass showing $102.82 million liquidated from short positions and a relatively smaller $11.80 million in long liquidations.

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According to local sources, a pen drive confiscated from Mauricio Novelli, who is implicated in the Libra case, may contain information linking Argentine President Javier Milei to the token launch. These sources claim that a video allegedly showing Milei promoting Libra may have been deleted from the storage device.

Video Containing Missing Link Between Milei and Libra Might Have Been Deleted From Seized Device
Sources familiar with the ongoing Libra investigation are speculating that key information might have been deleted from a drive seized from Mauricio Novelli, a cryptocurrency trader implicated in the case.
According to Argentine media, before the seizing procedure, Novelli erased dozens of files from the storage source, leading to speculation regarding the origin and content of these. While some of the folders and files have names of movies and series, security experts claim that these might hide something far more interesting.
The Chief of the Technical Analysis Laboratory of Information Technology of the Public Ministry sent a report to the prosecution stating that if the deleted data is of interest, “a carving process should be run on this forensic image, in order to try to recover deleted folders and files.”
A source with knowledge of the case has linked these deleted files to statements made by Kelsier Ventures’ Hayden Davis, who revealed in interviews that there was a video of Argentine President Javier Milei promoting Libra that had never been released.
Local media declared that the source asseverated:
If it’s what Davis says, where is that video? Who has it? Could it be one of those deleted files? We don’t know, but it needs to be verified.
While the Argentine Anti-Corruption Office (AO) exonerated President Milei from any wrongdoing regarding the ethics aspect of his involvement with Libra, other processes continue to advance in U.S. and Argentine courts.
Last month, Circle blocked nearly $57 million in funds linked to Libra’s wallets at the request of Argentine authorities, amidst an investigation into the communications between those allegedly involved in Libra’s launch.

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Meliuz, previously known for its cashback operations, has become the largest holder of bitcoin in Latam, surpassing Mercado Libre. Meliuz Chairman Israel Salmen stated that with the latest purchase, the company now holds nearly 600 BTC and aims to acquire more.

Meliuz Blazes Past Mercado Libre to Become Largest Public Bitcoin Company in Latin America
Meliuz, a Latam-based bitcoin treasury company, is accelerating its operations to accumulate as much bitcoin as possible. On Monday, Meliuz CEO Israel Salmen reported another purchase of bitcoin for the company, acquiring 275.43 bitcoin for $28.61 million, with an average price of $103,864.38 per BTC.
The purchase puts Meliuz at the forefront of bitcoin adoption in Latam, becoming the public entity holding the most bitcoin in the region. According to earlier reports, the first place was held by Mercado Libre, an e-tailer giant whose holdings are not their own, but their customers’.
Now, Salmen states Meliuz holds 595.67 bitcoin in its treasury, acquired at an average price of $102,702.84 per BTC.
In May, the company sought new funding to accelerate its treasury strategy, aiming to purchase $80 million worth of bitcoin. The operation resulted in an oversubscribed raise, which injected $32.5 million in fresh funds ready to purchase BTC.
Meliuz announced its pivot to bitcoin in May following Strategy’s playbook, and since then, it has already executed three bitcoin purchase operations, the first in March. At that time, the company tested the waters with a smaller $4 million buy.
The second purchase followed in May, when the company received support from its shareholders to jump fully into the bitcoin bandwagon. At that time, Meliuz bought 274.52 BTC for $28.4 million.
Meliuz’s moves have been received well by the Brazilian financial market. Share prices have risen by over 110% since its bitcoin pivot announcement, highlighting the relevance of such a proposal for Brazilian investors.
Another Brazilian company, Oranje, has stated that it aims to purchase nearly $210 million in BTC, but it has yet to execute this strategy.

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Mastercard and blockchain infrastructure provider Chainlink have partnered to enable the payment network’s over 3 billion cardholders to purchase cryptocurrency assets directly onchain via secure fiat-to-crypto conversion.'
New Partnership Lets Mastercard Holders Buy Crypto Directly Onchain Using Chainlink
Chainlink provides decentralized oracle networks, which are critical middleware securely connecting blockchains to external data and systems. The partnership leverages Chainlink’s technology alongside Mastercard’s payments network and integrations with compliance provider zerohash, card processor Shift4 Payments, platform Swapper Finance, and decentralized exchange (DEX) technology XSwap. The Uniswap protocol supplies liquidity.

The announcement notes that the collaboration aims to remove barriers preventing mainstream users from accessing the onchain economy. Zerohash handles regulated fiat-to-crypto conversion, custody and compliance. Shift4 processes card payments. XSwap sources liquidity from DEXs like Uniswap for the final onchain swap execution. Swapper Finance is the user-facing platform utilizing this integrated infrastructure.
Chainlink co-founder Sergey Nazarov stated the partnership represents convergence between traditional finance (TradFi) and decentralized finance (DeFi) systems, connecting Mastercard’s user base directly to onchain trading. Raj Dhamodharan, Mastercard‘s executive vice president for blockchain and digital assets, said the company is bridging onchain commerce and off-chain transactions to meet user demand for digital asset access.
The technical integration allows card payments to be converted into crypto assets usable within smart contracts onchain in a compliant manner. Edward Woodford, CEO of zerohash, described its role as providing the compliant onboarding and infrastructure simplifying access to decentralized exchanges. Uniswap Labs’ Drew Turchin noted the Uniswap protocol’s foundational role in enabling such onchain tools.
The Swapper Finance platform, powered by this partnership, is now operational. The move occurs as cryptocurrency adoption grows and institutions seek pathways connecting traditional payment systems with DeFi.

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Anthony Pompliano’s Procap BTC, LLC purchased 3,724 bitcoin for approximately $387 million one day after announcing a $1 billion merger and over $750 million fundraising effort.

Procap Buys 3,724 BTC at a Time-Weighted Average Price of $103,785
According to the announcement, the New York-based firm bought the bitcoin at a time-weighted average price (TWAP) of $103,785 per bitcoin on June 24, 2025. The acquisition occurred under an ongoing corporate bitcoin purchase program.
Procap’s June 23 announcement detailed a proposed $1 billion business combination with blank-check company Columbus Circle Capital Corp. I (Nasdaq: CCCM). The merger will take Procap public as Procap Financial, Inc.
The firm deployed funds raised at signing to execute the purchase, granting equity investors immediate bitcoin exposure. Procap confirmed it will continue buying bitcoin (BTC) as a core strategy, targeting up to $1 billion in bitcoin holdings post-merger.
Interestingly, the announcement notes that the TWAP for this purchase may differ from the “signing bitcoin price” referenced in the June 23 Business Combination Agreement between CCCM and Procap.
Procap BTC was founded by investor and crypto influencer Anthony Pompliano. The post-merger entity, Procap Financial, Inc., will develop financial products for institutions. Procap further details that CCCM, a Cayman Islands SPAC, is led by Chairman Gary Quin and aims to close the merger pending regulatory approvals.

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Bitcoin ETFs notched their 10th consecutive day of inflows with $350 million added, while ether ETFs returned to net positive territory with a strong $100.78 million inflow, signaling renewed investor confidence in crypto funds.

Bitcoin and Ether ETFs Open the Week Strong With Robust Fund Inflows and High Trading Volumes
Crypto exchange-traded funds (ETFs) kicked off the new trading week with fresh momentum as bitcoin and ether funds continued to attract substantial investor interest. Bitcoin ETFs extended their remarkable inflow streak to a 10th consecutive day, registering a net inflow of $350.43 million, a clear sign of sustained institutional appetite.
Leading the charge, Blackrock’s IBIT absorbed $217.6 million, while Fidelity’s FBTC followed closely with $105.66 million. Additional support came from Bitwise’s BITB ($14.57 million) and Grayscale’s Bitcoin Mini Trust ($10.06 million).

Bitcoin ETFs 10-Day Inflow Streak. Source: Sosovalue
Smaller inflows were also seen for Invesco’s BTCO ($6.18 million) and Ark 21Shares’ ARKB ($2.05 million). However, not every fund stayed green. Grayscale’s GBTC shed $5.69 million, showing some divergent investor positioning. Trading activity remained elevated, with total volume hitting $4.44 billion, and total net assets for bitcoin ETFs reaching $126.61 billion.
Ether ETFs also bounced back, breaking their short pause with an impressive $100.78 million net inflow. Fidelity’s FETH led the way with a $60.48 million entry, followed by Blackrock’s ETHA ($25.83 million). Grayscale’s ETHE and Ether Mini Trust contributed $9.01 million and $5.45 million, respectively. The sector’s total trading volume soared to $834.14 million, pushing net assets to $9.29 billion.

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Bitcoin is trading at $105,138 as of June 24, 2025, with a market capitalization of $2.09 trillion. Its 24-hour trading volume stands at $52.63 billion, within an intraday price range of $100,177 to $105,927, reflecting a strong rebound from recent lows and renewed market activity.

Bitcoin
On the daily chart, bitcoin shows signs of a reversal after a pronounced mid-term downtrend from $112,000 to a recent low near $98,240. A bullish reversal candle accompanied by increased volume suggests renewed buying interest. The current support level sits firmly at $98,000, while resistance looms between $106,000 and $108,000. Maintaining a position above $104,000 is critical for sustaining this upside momentum. The daily bias remains cautiously optimistic, contingent on price action staying above this threshold.

The 4-hour bitcoin chart reveals a pronounced V-shaped recovery, reinforcing the bullish short-term narrative. After bottoming out at $98,240, bitcoin surged with strength, supported by rising green volume bars and consolidation just below the $106,000 resistance. A breakout above $106,500, especially with volume confirmation, could pave the way for a move toward $108,000 or higher. This timeframe reinforces active bullish participation, suggesting upward continuation if critical resistance is cleared.

In the 1-hour chart, bitcoin displays a strong uptrend from $99,705, marked by a sequence of higher highs and higher lows. The price is consolidating between $105,000 and $106,000, potentially forming a bullish flag pattern. Although volume has tapered slightly, indicating the possibility of a minor pullback, a retracement toward the $104,500–$105,000 range may present an opportunity for long entries. The bias remains bullish, though cautious positioning is advised near resistance zones.

Technical indicators present a mixed yet slightly favorable outlook. Among the oscillators, the relative strength index (RSI) at 52, Stochastic at 47, commodity channel index (CCI) at 3, and average directional index (ADX) at 18 all signal neutrality. The awesome oscillator at −2,816 also supports this stance. However, the momentum indicator at −24 suggests a buying opportunity, while the moving average convergence divergence (MACD) level at −276 indicates a lingering bearish trend. This mix suggests a market at a potential inflection point.
Moving averages (MAs) underscore the prevailing bullish undercurrent. All exponential moving averages (EMA) — from the 10-period ($104,482) to the 200-period ($93,803) — signal a bullish trend. The simple moving averages (SMA) tell a slightly more nuanced story, with the 30-period SMA ($105,674) issuing bearish sentiment and the rest — including the key 50-period ($105,296) and 200-period ($96,017) — supporting bullish conditions. This convergence of trend-following indicators suggests a strengthening technical backdrop, provided bitcoin can maintain upward momentum through key resistance zones.
Bull Verdict:
If bitcoin sustains momentum above the $104,000 level and breaks decisively through the $106,500 resistance with strong volume, the path toward $108,000 becomes technically viable. Favorable moving average alignments and a bullish pattern on the hourly and 4-hour charts support a continuation of the upward trend, making a bullish outcome the dominant short-term scenario.
Bear Verdict:
Should bitcoin fail to clear the $106,500–$108,000 resistance band and selling pressure emerge, a retracement toward $102,500 or even the $98,000 support could follow. The sell signal from the moving average convergence divergence (MACD) and neutral readings across oscillators suggest vulnerability if bullish momentum wanes.
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Israeli security forces recently announced the arrest of three citizens suspected of spying for Iran, including a 27-year-old Tel Aviv resident who allegedly received cryptocurrency payments for intelligence gathering.

Tel Aviv Resident Receives Thousands in Crypto
Israeli’s security service Shin Bet and the Israeli Police announced on June 22 that it had arrested a 27-year-old Tel Aviv resident on suspicion of spying for Iran in exchange for cryptocurrency payments. The unnamed suspect is believed to have received thousands of dollars for work done over the course of several months.
According to an I24 report, Israeli authorities believe the suspect had been in contact with an Iranian agent who assigned him various tasks including photographing the homes of Israeli public officials, documenting military installations, and spray-painting graffiti. During a search of his residence, law enforcement officials seized computers and other digital equipment believed to have been used to communicate with his Iranian handlers.
The Tel Aviv Magistrate’s Court has since extended the suspect’s detention until June 26 as the investigation continues.
In a joint statement, the police and Shin Bet issued a stern warning about ongoing attempts by Iranian intelligence services and affiliated terrorist organizations to recruit Israeli citizens for espionage and other hostile activities. They emphasized that such recruitment frequently occurs via social media platforms and urged the public to report any suspicious outreach from foreign actors.
Security officials vowed to pursue and prosecute those involved in such operations “with the utmost severity.”
In addition to the arrest of the Tel Aviv resident, authorities also detained a 19-year-old resident of central Israel on suspicion of of sharing classified information with an Iranian operative during the ongoing conflict. In Haifa, law enforcement arrested Dmitry Cohen for allegedly conducting surveillance on Israeli civilians whose personal details were provided by his Iranian contact.
These latest arrests underscore a growing trend, coming just months after Israel publicly announced the apprehension of seven other citizens, also in the city of Haifa, on similar charges of espionage for Iran.

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