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A global crypto fraud empire that funneled over half a billion dollars from thousands of victims has been dismantled in a sweeping international operation spanning three continents.

Crypto Fraud Network Dismantled: Europol, Spain Arrest 5 in Major Bust
A sweeping crackdown on a global cryptocurrency scam has unraveled a vast network that siphoned millions from unsuspecting investors across continents. The Spanish Guardia Civil announced on June 25 the arrest of five suspects linked to a transnational investment fraud ring that stole €460 million ($542 million) from over 5,000 individuals worldwide. Conducted with support from Europol and law enforcement agencies in the United States, France, and Estonia, the operation targeted properties in Madrid and the Canary Islands. Authorities confirmed:
The investigation identified that the perpetrators had laundered EUR 460 million in illicit profits stolen through crypto investment fraud from over 5,000 victims from around the world.
Investigators allege the organization built an international infrastructure for financial deception, with a network of representatives soliciting money via cash, wire, and crypto channels. The group is believed to have used a web of bank accounts and shell companies based in Hong Kong. Europol, which joined the case in 2023, provided strategic coordination and deployed cryptocurrency specialists to assist Spanish authorities on the action day.
Officials detailed how the group concealed criminal proceeds:
Investigators suspect the criminal organisation of having set up a corporate and banking network based in Hong Kong, allegedly using payment gateways and user accounts in the names of different people and in different exchanges to receive, store and transfer criminal funds.
Europol’s March 2025 threat report named online fraud as a top security concern for the European Union, citing its rapid escalation fueled by AI and data access. While critics decry crypto’s role in enabling anonymity, some analysts argue blockchain’s traceability offers a pathway to stronger fraud detection if coupled with regulatory oversight and technological collaboration.

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Circle’s move to create a federally regulated digital currency bank signals a massive leap toward integrating crypto infrastructure directly into the core of U.S. financial regulation.

Circle Seeks OCC Approval to Establish Federally Regulated USDC Trust Bank
A national charter pursuit from a leading stablecoin firm signals accelerating institutional integration of digital dollars into the regulated U.S. financial ecosystem. Circle Internet Group Inc. (NYSE: CRCL) announced on June 30 that it has applied to the Office of the Comptroller of the Currency (OCC) to form a federally regulated trust bank named First National Digital Currency Bank, N.A. If approved, the institution would operate under federal oversight and manage the USDC Reserve, while offering digital asset custody services to institutional clients.
The charter would support Circle’s compliance with the proposed Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, a bill introduced to regulate payment stablecoins through federal licensing, reserve mandates, and compliance requirements. Circle CEO Jeremy Allaire emphasized the significance of the move:
Establishing a national digital currency trust bank of this kind marks a significant milestone in our goal to build an internet financial system that is transparent, efficient and accessible.
He added: “By applying for a national trust charter, Circle is taking proactive steps to further strengthen our USDC infrastructure. Further, we will align with emerging U.S. regulation for the issuance and operation of dollar-denominated payment stablecoins, which we believe can enhance the reach and resilience of the U.S. dollar, and support the development of crucial, market neutral infrastructure for the world’s leading institutions to build on.”
Over the past decade, Circle has maintained a proactive regulatory approach. It was the first recipient of New York’s Bitlicense in 2015, the initial global issuer to meet the European Union’s MiCA rules in 2024, and received in-principle approval in April 2025 to operate in Abu Dhabi. The crypto firm officially went public on the New York Stock Exchange on June 5, 2025, under the ticker “CRCL.” Its IPO was priced at $31 per share. Since then, shares have surged to over $180, reflecting strong investor confidence in the firm’s role as a stablecoin market leader.

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A regulated crypto staking ETF is set to debut in the U.S., unlocking yield potential and paving the way for a new era of compliant digital asset investing.

New ETF Combines SOL Exposure With Staking Income in Regulated Structure
A yield-bearing crypto investment vehicle is about to make its debut in the regulated U.S. market, potentially setting a precedent for staking-based exchange-traded funds (ETFs). Industry observers have been closely watching developments around solana ( SOL) as asset managers push to offer products that integrate both price exposure and staking income. Regulatory caution has previously delayed such offerings, but this week could mark a turning point. Bloomberg analyst Eric Balchunas stated on social media platform X on Monday:
The Rex-Osprey SOL+ Staking ETF $SSK is officially set to launch on Wed … and will be the first to stake in U.S.
He added: “40% of its holdings will be ‘securities’ via other SOL ETPs (to qualify under 40 Act) and fee is 75bps but 1.28% once tax expense from c-corp structure factored in.” Fellow Bloomberg ETF analyst James Seyffart hinted at the same timeline, posting on X: “Seems like this solana staking ETF could be going live this week.” The launch of $SSK is expected to open doors for other products that combine crypto exposure with yield generation in a compliant structure.
Rex Shares had announced on X on June 27:
Coming soon: The first-ever staked crypto ETF in the U.S.!
The fund, officially named the Rex-Osprey SOL + Staking ETF, is designed to track solana’s market price while incorporating rewards earned through onchain staking. The asset manager called it “a new era of yield-generating crypto exposure,” highlighting its dual objective of capital appreciation and income. This approach positions the fund as an alternative to traditional crypto holdings that rely solely on market performance.
In addition, Rex Shares has filed for a second product, the Rex-Osprey ETH + Staking ETF, with the U.S. Securities and Exchange Commission (SEC). This fund seeks to replicate the performance of ether ( ETH) while accruing staking rewards. The SEC’s past skepticism toward staking-linked ETFs has focused on investor protection and legal classification of staking income. Still, advocates argue these structured ETFs can deliver yield and transparency, making decentralized finance more accessible to institutional investors within a regulated framework.

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XRP is emerging as the next big institutional crypto play as public companies embrace it as a treasury cornerstone, signaling explosive mainstream adoption.

Wave of Public Firms Embracing XRP Sparks Institutional Crypto Shift
A growing number of public companies are signaling a decisive pivot toward XRP as a strategic treasury asset, reshaping the narrative around institutional crypto adoption. Attorney John E. Deaton highlighted on social media platform X on June 30 that various companies have structured their treasury management around XRP, reinforcing his earlier projections that Wall Street would replicate Microstrategy’s bitcoin strategy using other tokens.
“There are already at least 5 companies implementing an XRP Treasury Strategy,” Deaton said, emphasizing that this shift isn’t rooted in token performance but in a deeper understanding of market dynamics. He clarified:
My predictions weren’t about the underlying cryptocurrencies but more about human behavior, Wall Street and mass adoption for the asset class.
Referring to his earlier prediction about XRP treasuries, he noted: “I also said there will be companies that implement the Saylor BTC Treasury Strategy except with other tokens.”
The group of XRP-focused companies includes Vivopower International, which raised $121 million for a $100 million XRP treasury. Backed by Saudi investors and advised by Adam Traidman, a former executive at SBI Ripple Asia, the firm aims to become the first publicly traded company centered on XRP, Deaton explained. Worksport Ltd., based in the U.S., has earmarked $5 million—10% of its excess cash—for XRP and bitcoin holdings. Hyperscale Data Inc. intends to launch an XRP lending platform by late 2025, treating XRP as a balance sheet asset. China-based Webus International Ltd., in partnership with Samara Alpha Management, is managing a $300 million XRP treasury targeting cross-border settlements and Web3 applications. Wellgistics Health Inc. has adopted XRP to improve real-time payments and mitigate traditional banking lags.
Deaton concluded by framing the broader economic drive behind these moves:
Wall Street is too greedy to not do it.

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Coinbase Institutional projects a constructive outlook for cryptocurrency markets in the second half of 2025, driven by economic optimism, corporate adoption and regulatory progress.

Positive 2H25 Crypto Outlook Amid Rising Institutional Holdings
The report identifies three key themes: improved U.S. macroeconomic prospects reducing recession fears, increasing adoption by corporate treasuries as a significant demand source, and a shifting U.S. regulatory landscape supporting stablecoins and market structure. While acknowledging risks like potential yield curve steepening or forced selling from specialized corporate vehicles, Coinbase views these as manageable near-term concerns.
A notable trend is the sharp rise in corporate entities focused primarily on accumulating bitcoin and other cryptocurrencies. This corporate adoption is reflected in on-chain data showing a significant increase in the number of bitcoin (BTC) wallets holding balances exceeding $1 million. Data cited from Glassnode indicates these high-value wallets rose substantially from levels seen in early 2024 through May 2025.

This corporate accumulation, often funded through equity or debt issuance, introduces potential systemic risks related to forced selling or discretionary selling pressure. However, Coinbase analysts note that major debt maturities for these vehicles generally extend to late 2029 or beyond, mitigating immediate forced selling concerns.
On regulation, Coinbase highlights strong momentum for stablecoin legislation potentially reaching President Trump’s desk before the August congressional recess, alongside progress on a broader crypto market structure bill clarifying roles for the CFTC and SEC. The SEC also faces decisions on numerous pending exchange-traded fund (ETF) applications throughout 2025.
Despite risks, Coinbase expects bitcoin’s upward trend to continue, while altcoin performance may depend more on specific factors like upcoming regulatory decisions on single-asset ETFs. The overall outlook remains positive based on the confluence of economic, adoption, and regulatory factors.

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Treasury Secretary Scott Bessent is actively involved in selecting a replacement for Federal Reserve Chair Jerome Powell, whose term concludes in May 2026, with President Donald Trump expected to announce a successor imminently.

Powell Successor Expected Soon; Bessent Warns of Market Risks
Treasury Secretary Scott Bessent is playing a pivotal role in the process of replacing Federal Reserve Chair Jerome Powell, with President Donald Trump indicating an announcement on Powell’s successor could come within weeks. Powell’s term as chair is scheduled to end in May 2026.
Potential candidates reportedly under consideration include Bessent himself, former Fed governor Kevin Warsh, National Economic Council Director Kevin Hassett, current Fed governor Christopher Waller, and former World Bank President David Malpass. Warsh, viewed as an early favorite, has been interviewed by Trump and holds views critical of the Fed’s credibility.
Bessent’s involvement is multifaceted. As Treasury Secretary, he is a key advisor steering the selection effort. Simultaneously, his name features prominently on lists of potential contenders, drawing significant attention due to his current position in shaping Trump’s economic policies on trade, taxes, and regulation.
The administration’s accelerated timeline aims to finalize a candidate soon, with formal interviews expected to begin shortly. This expedited process has generated debate. Bessent has publicly cautioned that prematurely replacing Powell could unsettle financial markets, adding complexity to the decision.
The potential early replacement is seen by analysts as an effort to align the Federal Reserve more closely with Trump’s economic agenda, particularly concerning interest rate policy. Bessent has stated publicly that tariffs have not fueled inflation, signaling policy viewpoints relevant to the Fed’s future direction.
As of Monday, formal interviews had not yet commenced. The final selection rests with President Trump, who will choose based on his administration’s economic priorities. The coming weeks are deemed critical for the outcome.

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Bitcoin exchange-traded funds (ETFs) tallied their 14th consecutive day of net inflows, pulling in a massive $501 million. Ether ETFs also rebounded with a solid $77.45 million gain, led by Blackrock and Fidelity.

ETF Inflows Power On: Bitcoin Rakes in $501 Million, Ether Adds $77 Million
The floodgates remain wide open for U.S. spot bitcoin ETFs, with Friday, June 27, marking the 14th day in a row of inflows. This one was big, bringing in $501.27 million in net new capital.
Fueling the charge were heavyweights Fidelity’s FBTC ($165.52 million), BlackRock’s IBIT ($152.95 million), and Ark 21Shares’ ARKB ($150.25 million). This trio accounted for the bulk of the day’s surge.

Bitcoin ETFs’ 14-day hot streak. Source: Sosovalue
Other positive contributors included Bitwise’s BITB ($11.63 million), Grayscale’s Bitcoin Mini Trust ($8.05 million), Vaneck’s HODL ($6.05 million), Invesco’s BTCO ($3.73 million), and Franklin’s EZBC ($3.09 million). Trading volumes hit $2.70 billion, while total net assets edged up to $133.17 billion.
Meanwhile, ether ETFs bounced back after Thursday’s stumble with $77.45 million in net inflows. Blackrock’s ETHA once again took the lead, pulling in $48.10 million, followed by Fidelity’s FETH with $28.86 million.
A modest $481K came from 21shares’ CETH, rounding out the day’s gains. The ether ETF group saw $269.81 million in trading volume, with net assets climbing to $9.88 billion.
As both asset classes regain momentum, investor sentiment continues to lean bullish, especially with bitcoin ETFs stringing together one of the longest inflow runs of the year.

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Prominent financial analysts engaged in a heated public debate this weekend over the performance and mechanics of Strategy’s (MSTR) bitcoin-focused corporate strategy, highlighting deep divisions over the company’s valuation premium.

Premium Fuel: Experts Debate MSTR’s Outperformance vs. Bitcoin
The exchange featured Lyn Alden, founder of Lyn Alden Investment Strategy and a noted bitcoin bull; Jim Chanos, founder of Kynikos Associates and famed short-seller; and Andy Constin, CEO of Damped Spring Advisors. It centered on Alden’s assertion that Strategy (formerly Microstrategy) shareholders who invested when the company adopted its bitcoin accumulation strategy in August 2020 would have outperformed owning bitcoin itself, even if Strategy’s metric for bitcoin holdings per share (“mNAV”) fell to 1x current bitcoin prices.
Strategy, a business intelligence (BI) firm, essentially functions as a publicly traded bitcoin ( BTC) treasury company, using capital raises and debt issuance primarily to acquire and hold bitcoin on its balance sheet. Jim Chanos challenged Alden’s analysis, implying she overlooked a critical factor: “You don’t need a ‘long form article’ to understand that each share of MSTR has had an increased amount of bitcoin per share since 2020. The mNAV trade is dynamic, not static.”
He later posed a fundamental question:
Does the business model (raising money to buy bitcoin) create the mNAV premium, or does the mNAV premium allow such a model to exist/continue?
Andy Constin entered the debate, accusing Alden of ignoring dilution effects. He argued that Strategy’s market capitalization growth stemmed significantly from issuing shares at premiums well above mNAV (e.g., 1.4x, 1.8x), benefiting early shareholders at the expense of later entrants. “Most if not all of the excess return over BTC is coming from most of the market cap of the company coming at a high MNAV,” Constin stated, likening early entry advantage to a “Ponzi scheme.”
Alden defended her position, acknowledging the premium but arguing it reflected unique value. She noted Strategy offered institutional investors exposure to bitcoin combined with long-term, non-callable debt – a structure unavailable via spot bitcoin exchange-traded funds (ETFs) or to funds restricted to stocks/bonds. “Attaching multi-year non-callable debt to bitcoin offers a product that corps can do, but investors and most funds cannot do, so they pay a premium for it,” Alden explained.
She emphasized repeatedly advising caution and trimming positions when mNAV premiums soared to 3x, stating buyers at 1x-2x NAV generally benefited over the past five years, even as BTC per share increased. Chanos, known for publicly shorting MSTR while holding bitcoin long as an arbitrage trade, and Constin (claiming 83 years of combined experience with Chanos) maintained Alden deflected their core critique about premium-fueled returns.
Alden countered that the strategy’s longevity and persistent, unmet institutional demand justified the premium, predicting it would fade only when similar products became ubiquitous. “Eventually when that ability is ubiquitously diffused everywhere, the premium will dry up,” she concluded. The debate ended with Constin suggesting Alden acknowledge their point and Alden reiterating the strategy’s appeal to specific investor mandates.

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Bitcoin is trading at $107,693 as of June 30, 2025, with a market capitalization of $2.14 trillion and a 24-hour trading volume of $18.15 billion. Its intraday price has ranged between $107,379 and $108,771, reflecting both resilience and potential buildup for a larger price move.

Bitcoin
A multi-timeframe review of bitcoin’s price action reveals a bullish technical structure developing across the daily, 4-hour, and 1-hour charts. On the daily timeframe, price rebounded sharply from the $98,000 range, forming a bullish engulfing candlestick pattern, often indicative of bottoming behavior. Notably, this reversal was accompanied by rising volume on green candles, suggesting accumulation. The price now resides in the $107,000–$108,000 zone, with a key target of $110,000. However, a daily close below $100,000 would invalidate the bullish setup.

BTC/USD daily chart via Bitstamp on June 30, 2025.
The 4-hour BTC/USD chart highlights a continuation of higher highs and higher lows, though momentum recently paused below $108,800. Consolidation is currently occurring just beneath this level. The emerging bullish continuation wedge pattern may break to the upside, with a decisive move above $108,800 serving as confirmation. Lower volume implies hesitancy, but any uptick alongside a breakout could pave the way for targets around $110,000. Conversely, a decline below $107,000 would signal renewed bearish pressure.

BTC/USD 4-hour chart via Bitstamp on June 30, 2025.
In the 1-hour timeframe, bitcoin shows a pattern of tight consolidation around $107,500 to $107,800 following a sharp pullback. An inverse head-and-shoulders pattern appears to be forming, pointing to potential short-term upside. The price is exhibiting early signs of recovery, with green candles reflecting buyer interest despite diminished volume. If this pattern confirms, bitcoin could revisit $108,500 and $108,800 in the near term, though any breakdown below $107,000 could jeopardize the bullish narrative.

BTC/USD 1-hour chart via Bitstamp on June 30, 2025.
Supporting this structure, a majority of moving averages (MAs) indicate bullish sentiment. The exponential moving averages (EMAs) and simple moving averages (SMAs) from the 10-period to the 200-period range—such as the 10-period EMA at $106,703 and the 200-period EMA at $94,608—all signal buying momentum. These moving averages help validate the market’s underlying strength and reinforce the case for sustained upward movement if key resistance levels are breached.
Oscillators offer a more mixed outlook, with most indicators in neutral territory. The relative strength index (RSI) at 56, the stochastic at 90, and the commodity channel index (CCI) at 94 all signal a neutral stance. The momentum indicator and the moving average convergence divergence (MACD) level, however, both flash buy signals, suggesting an underlying positive shift in price pressure. Notably, the stochastic RSI fast is in a sell position at 95, indicating the need for cautious optimism until more definitive confirmation appears.
In summary, while bitcoin maintains a bullish technical posture supported by favorable moving averages and strong daily structure, traders should monitor breakout levels closely. A sustained move above $108,800 with accompanying volume could act as the next catalyst for a test of the $110,000 mark.
Bull Verdict:
Bitcoin’s current price structure across all major timeframes suggests a bullish outlook, with consistent support from moving averages and a recovering daily trend. Should the price break above $108,800 with strong volume confirmation, the next leg toward $110,000 appears likely, validating the bullish case and signaling continued accumulation by market participants.
Bear Verdict:
Despite signs of recovery, bitcoin’s failure to decisively break $108,800 and mixed oscillator readings introduce caution. A drop below $107,000 would undermine bullish momentum, potentially triggering a deeper pullback toward the $105,000 area or even back to the $102,000–$100,000 support zone, nullifying short-term upside expectations.

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Spanish franchise Vanadi Coffee is now ready to execute its bitcoin purchase strategy and cryptocurrency pivot following the approval of this move at a shareholder meeting. The company already holds 54 BTC under the custody of the Spain-based exchange

Spanish Franchise Vanadi Coffee Snatches Bitcoin Pivot Approval, Executes BTC Purchase
Bitcoin Treasury Companies (BTCs) are in the spotlight as more businesses pivot to full crypto accumulation as their main activity or switch to holding digital assets as a complement to their business model. Vanadi Coffee, a coffee shop and restaurant chain with six locations across Spain, has received approval to become a bitcoin accumulation company, prompting its board to expedite operations for this pivot.
In a release posted on social media, Vanadi Coffee announced that shareholders unanimously approved the proposal, agreeing to “delegate to the Board of Directors the authority to negotiate one or more convertible financing lines to finance the implementation of the aforementioned bitcoin accumulation strategy up to a maximum limit of 1 billion euros.”
Backing this move, the company stated:
Vanadi Coffee is committed to blockchain technology as a pillar of the global economic future. Investing in Bitcoin is a long-term commitment to a new decentralized financial model. Vanadi Coffee is diversifying its business into Bitcoin investment and management and other cryptocurrency-related areas.
Vandi Coffee, listed in the BME Spanish stock exchange, had reported its intention to make this change pending shareholder approval earlier this month, having already received several financing proposals for executing this strategy.
The company has moved quickly following this decision and reported one of its first bitcoin purchases, filing a document that reports this movement to the Spanish stock exchange.
Vanadi Coffee disclosed that, following its new treasury management strategy, it has acquired 20 bitcoin with an average purchase price of 93,444 euros. Furthermore, it clarifies that it now has 54 bitcoin in its balance sheet and that its cryptocurrency holdings are under the custody of Bit2me, a Spain-based cryptocurrency exchange.

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