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Monero has posted a powerful bullish breakout, shifting its market structure and confirming a change in the character of price action. Following the impulsive rally, XMR is now undergoing a correction, one that may provide the ideal foundation for a continuation toward higher targets.

After breaking market structure with a strong upward surge, Monero (XMR) has entered a corrective phase, which is natural and expected following such impulsive price action. The key to the current move lies in where the correction finds support. Technical confluence zones offer valuable insight into where buyers may re-enter the market, and for Monero, that zone appears to be forming around the $269 region.

Key technical points

Bullish Breakout Confirmed: XMR broke above key resistance and confirmed a shift in trend with higher highs and higher lows.

Healthy Pullback in Progress: A correction is now underway, setting up for a potential higher low formation.

$269 Support Confluence Zone: This level aligns with the 0.618 Fibonacci retracement, VWAP support, and the 200-day moving average.

Upside Targets at $338 and $417: These resistance levels remain open if the bullish structure continues from support.

XMRUSDT (1D) Chart, Source: TradingView

Monero’s impulsive rally signaled a clear shift in market behavior, breaking the prior range and confirming bullish intent. With price now pulling back, this phase should not be viewed as weakness, but rather a viable correction in a strong uptrend.The $269 level is now the critical support area to monitor. It brings together several high-probability technical factors:

0.618 Fibonacci retracement from the recent swing

VWAP (Volume Weighted Average Price) support

The 200-day moving average, which serves as a long-term dynamic support

Historical high-timeframe structure

This confluence creates a strong foundation for bulls to defend. A bounce from this region would confirm a higher low formation, in line with the newly established bullish structure.

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If this support holds, Monero is positioned to rotate higher toward $338, the next local resistance, followed by a potential test of the $417 level, a key area that previously capped bullish momentum. Breaking these zones would establish a continued bullish trend with further upside potential.

What to expect in the coming price action

As long as $269 holds, Monero remains technically bullish. This zone acts as the likely candidate for a higher low, setting the stage for another leg upward. Confirmation from this level could propel XMR toward $338 and eventually $417. Watch for strong reaction volume and structure above $269 to validate the continuation.

Read more: Pi crypto value rebounds: key levels to watch

Aleksei Andriunin, founder and CEO of crypto market maker Gotbit, has been sentenced to eight months in prison for his role in a multi-million-dollar wash trading scheme that inflated trading volumes for various cryptocurrencies.

The sentencing was handed down by U.S. District Court Judge Angel Kelley in Boston, following Andriunin’s guilty plea in March 2025 to wire fraud and conspiracy to commit market manipulation.

The 26-year-old, a dual citizen of Russia and Portugal, was arrested in Portugal in October 2024 and extradited to the U.S. in February 2025. As part of a plea agreement, Andriunin agreed to forfeit $23 million in stablecoins held in crypto wallets linked to Gotbit.

Gotbit Consulting LLC, the firm he founded, was also sentenced to five years’ probation and is required to cease operations.

The company admitted to offering wash trading services between 2018 and 2024, manipulating trading volumes to help client tokens appear more active and gain listings on exchanges and CoinMarketCap.

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Gotbit’s blockchain evasion

Prosecutors said Gotbit used multiple accounts to avoid blockchain detection and received tens of millions of dollars in client payments for these services. Tokens involved in the scheme included Robo Inu and Saitama. 

Company directors Fedor Kedrov and Qawi Jalili were also indicted.

Gotbit is the third crypto market maker charged in relation to illegal trading practices, following actions against MyTrade and CLS Global, according to the Justice Department.

The Securities and Exchange Commission has filed a separate civil enforcement action against Gotbit for securities law violations.

As part of his sentence, Andriunin will also serve one year of supervised release and is barred from crypto-related activity during that period.

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Caroline Pham, the acting chair of the Commodity Futures Trading Commission (CFTC), has made it clear that crypto firms shouldn’t expect a free pass on regulation just because political administration is shifting.

Speaking at the Coinbase Annual Summit with Yahoo Finance, Pham said that Donald Trump’s crypto stance doesn’t mean companies can ignore the rules or operate outside the law.

“There is no easy street for anybody, and regulators aren’t easy,” she stated. “Just because we are pro-innovation and pro-growth does not mean that you’re going to be able to get away with breaking the law.”

The acting chair clarified that this does not mean the commission will unfairly target the crypto sector as the previous administration did. Instead, the focus will be on fair and firm enforcement to tackle real issues like fraud and misconduct.

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Pham further criticized the Biden regulatory era. Echoing industry sentiment, she emphasized that regulators bent the rules to go after crypto in ways the law didn’t support, an approach she describes as undermining trust in the U.S. system. 

She added that fear-based policymaking curated out of wrong perceptions that the industry is “evil” no longer serves, stressing the importance of restoring regulatory clarity.

Caroline Pham’s remarks come as U.S. crypto regulation takes a new form, especially with the appointment of Paul Atkins as the new Chairman of the Securities and Exchange Commission (SEC). Seen as a pro-crypto choice, Atkins is expected to help fulfill Trump’s promises to the sector and undo long-standing regulatory irregularities that have hindered growth.

Earlier this month, the regulatory chief reaffirmed his mission to create clearer rules for the crypto industry.

“A key priority of my Chairmanship will be to develop a rational regulatory framework for crypto asset markets that establishes clear rules of the road for the issuance, custody, and trading of crypto assets,” he stated.

Read more: Altcoin ETF summer in limbo as SEC hits pause on DOGE, HBAR, and AVAX filings

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Retail investors are turning to ETHRANSACTION to passively earn daily income through clean-energy crypto mining, no hardware, no hassle.

Table of Contents

How to mine in the ETHRANSACTION cloud

Security and sustainability: Trustworthy investments

Daily passive income potential for ETHRANSACTION miners

Choosing a contract

Affiliate program: Earn money without investing

ETHRANSACTION platform advantages

Summary

Cryptocurrency and blockchain technology could reshape personal finance in the next decade. Even if traders never bought Bitcoin (BTC), Ethereum (ETH), XRP, or any other digital currency, its impact could affect how they save, spend, and manage money. There are many ways cryptocurrencies could change everyone’s financial life. The most immediate change will be how people send and receive money by simplifying cross-border payments.

So ETHRANSACTION has launched a plan contract suitable for people in all fields to allow retail investors to have their own crypto savings in advance in the next decade; so that retail investors can get a stable passive income from cloud mining.

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How to mine in the ETHRANSACTION cloud

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ETHRANSACTION has 8.73 million users worldwide. Interested investors can sign up now to join the cloud mining contract for free. Click to download the official App.

Security and sustainability: Trustworthy investments

Security and transparency are at the core of ETHRANSACTION operations. The platform ensures that user funds are protected while complying with industry regulations. By utilizing clean energy, ETHRANSACTION not only maximizes profits but also minimizes environmental impact, making it a truly sustainable investment opportunity.

Daily passive income potential for ETHRANSACTION miners

ETHRANSACTION’s passive income opportunity is gaining traction. With a potential income of $7.5-9075 per day, it is not to be missed. ETHRANSACTION operates using solar energy and cryptocurrency mining. Individuals do not need to actively participate, just invest in purchasing a plan contract to make a huge profit.

Choosing a contract

For more information on the new contracts, visit the official ETHRANSACTION platform website.

4: Start earning: Once users have selected and activated their mining contract, they can sit back and wait for the system to work. ETHRANSACTION’s advanced technology ensures that the mining operation runs efficiently, maximizing potential earnings.

Affiliate program: Earn money without investing

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ETHRANSACTION is a gateway to financial growth. With a seamless platform, secure infrastructure, and unparalleled profitability, ETHRANSACTION is reinventing the future of cloud mining.

As mining activities progress, users will begin to see profits accumulating in their accounts. They can track the performance through the platform’s dashboard and withdraw earnings when they are ready.

ETHRANSACTION platform advantages

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Summary

ETHRANSACTION service platform is a legal, compliant, safe, and reliable company that abides by local laws and regulations. The mission is to enable everyone to conduct cloud mining. Interested crypto enthusiasts can check out the platform today.

Read more: Bitcoin mining can power the US, if regulators prioritize it | Opinion

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

DTCC, a company at the heart of the U.S. financial markets, may launch its own stablecoin if regulatory conditions are met.

Stablecoins are gaining traction among top global financial institutions. On Thursday, June 12, the Depository Trust & Clearing Corporation, is reportedly exploring developing its own stablecoin.

According to company insiders, DTCC is prepared to move quickly into the stablecoin space once the U.S. enacts appropriate legislation. However, the firm has not issued an official press release confirming its plans, indicating it is waiting for regulatory clarity before taking action.

.S. lawmakers are currently reviewing two major stablecoin-related bills: the GENIUS Act and the STABLE Act. Both propose strict transparency and disclosure requirements, mandating that stablecoins be backed 1:1 by cash and other liquid assets.

While the proposed rules would place clear compliance obligations on issuers, they would also offer legal protection and regulatory certainty. As a result, many analysts expect that passage of these laws would pave the way for more established financial institutions to enter the stablecoin market.

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Global financial institutions join stablecoin rush

The move comes after Circle, the biggest stablecoin issuer in the U.S., went public in a successful IPO. The company delivered more than 271% in returns in less than one week of trading, and 4x returns to private investors like Sigil.

Issuers like Circle profit by investing their stablecoins with short-term Treasuries, which generate yields. The more stablecoins they issue, the bigger their profits are. For Circle, this translates into $3 billion in gross interest income.

This straightforward and lucrative revenue model is increasingly attractive to traditional financial institutions. Visa, MasterCard, and JPMorgan are among the big players that are exploring their own stablecoin launches.

Big tech companies are also exploring a similar move, and Apple, X, Google, and Airbnb are among the potential issuers. Most recently, Chinese tech giant Ant International has launched its own stablecoin bid on June 12, applying for licenses in Hong Kong, Singapore, and Luxembourg..

Read more: Interview | Polygon’s Gupta says ‘stablecoins are no longer an experiment’

The validity of most blocks is confirmed using the Bitcoin Core client. No wonder developers working on Bitcoin Core have some influence on Bitcoin per se. Lately, they have been pushing to remove limits on arbitrary data from blocks (non-monetary data, such as text messages, pictures, and more). Despite the backlash from the Bitcoin community, the Bitcoin Core developers pushed for implementation, arguing with their peers. Citrea is named as the implementation’s stakeholder.

Table of Contents

What exactly Bitcoin Core is going to change?

Conflicting reasoning for the change

The community battle

What exactly Bitcoin Core is going to change?

Bitcoin Core will remove OP_RETURN in the next version, scheduled for release in October. OP_RETURN is a script Bitcoin Core devs added to Bitcoin in 2014. It aimed to limit the arbitrary data (Bible verses, images, etc) in each block and separate it from more crucial information associated with BTC transactions so that the network would ignore this data while working with monetary data.

There can be only 83 bytes of space per block intended for arbitrary data recorded in unspendible TX outputs. It’s worth noting that Bitcoin Core developers have encouraged bitcoiners not to use the Bitcoin blockchain for recording arbitrary data, as there are better options that would not pile extra pressure on the Bitcoin network. The OP_RETRUN segment in the Bitcoin Core 0.9.0 release description reads:

“[OP_RETURN] is not an endorsement of storing data in the blockchain. The OP_RETURN change creates a provably-prunable output, to avoid data storage schemes – some of which were already deployed – that were storing arbitrary data such as images as forever-unspendable TX outputs, bloating bitcoin’s UTXO database.

Storing arbitrary data in the blockchain is still a bad idea; it is less costly and far more efficient to store non-currency data elsewhere.”

However, 11 years later, Bitcoin Core developers decided to remove the 83-byte limit, allowing users to set their own limits manually. By default, there will be no limitations at all. It may fuel the use of the Bitcoin blockchain for backing various media content, etc. It’s worth noting that even with an 83-byte limit, Bitcoin has always been used for arbitrary data transactions. The limit is thought to keep Bitcoin safe from overloading and spam.

Read more: NFT sales on Bitcoin hit record in December 2023

The changes were implemented despite much criticism from the community. The way Bitcoin Core was pushing the change stirred controversy that reached people not engaged in the tech backrooms of Bitcoin.

Conflicting reasoning for the change

In a statement released on June 6, 2025, Bitcoin Core cited censorship resistance as the reason for the change. However, developer Peter Todd, who created a pull request calling for the removal of OP_RETURN, raised a different reason. He called the data recorded in unspendable TX outputs a harmful burden for developers and emphasized that removing the limit altogether is more efficient:

“As was discussed in the mailing list discussion, entities are using unspendable outputs in lieu of OP_Return outputs. Precisely because of the size limit. This increases the UTXO set size unnecessarily, a harmful effect of having the arbitrary OP_Return output limitations […]

There’s no reason why Bitcoin Core should be forced to take on the maintenance burden of maintaining arbitrary limits that we believe are ineffective, and even harmful.”

One of the problems with this case is the issue of centralization. The Knots software is one of the preferred alternatives to Bitcoin Core, but its influence on the network is way lower. As Peter Todd puts it in one of his messages, “We […] know that Knots isn’t going to be effective at preventing transactions from being mined even if it gets, say, 50% of nodes and 25% of hash power. You need Bitcoin Core on board to have any chance of success.”

At the same time, the Bitcoin Core statement reads, “While we recognize that this view isn’t held universally by all users and developers, it is our sincere belief that it is in the best interest of Bitcoin and its users, and we hope our users agree.” This portion of the statement somewhat conflicts with the second paragraph, which states, “Bitcoin Core contributors are not in a position to mandate [certain policies].” 

> Bitcoin Core is just one protocol implementation that can be copied and modified by anybody; the only thing that makes it special is the way its contributors make decisions.🤦🏻‍♂️What makes Core “special” is not just that, it’s that it is by far the most popular node…

— C (@RIPreason) June 9, 2025

An Ocean Mining executive using the Bitcoin Mechanic handle assumes that Citrea could back the proposal. Citrea is the company that raised $14 million to add layer 2 functionality to Bitcoin blockchain in 2024. However, Jameson Lopps of Citrea dismissed these claims. 

The more I look into it the worse if gets.Again this isn't a technical debate. It's just bad actors pushing malicious changes into Bitcoin lying about the effects it will have.Citrea *need* your mempool to tolerate their junk, and Core are determined to help them with that by…

— Mechanic #FixTheFilters #300kb (@GrassFedBitcoin) May 4, 2025

In April, Bitcoin Mechanic posted a tweet claiming he had been banned on GitHub for criticizing the removal of OP_RETURN limits.

The community battle

An online outrage was caused by two reasons: the implementation itself and the way Bitcoin Core was pushing it despite the significant opposition. 

Don't let the bad actors trick you into thinking Bitcoin Core 30 allows you to re-enable the datacarrier limit:1) Along with unlimiting the default, they also broke it further. datacarriersize=83 now (as of Core 30) allows for 83 outputs totalling 830 bytes of spam, instead of…

— Luke Dashjr (@LukeDashjr) June 10, 2025

Those opposing the change advocate for Bitcoin remaining an electronic cash system, not a blockchain to host videos, images, etc., which may turn it into a platform similar to many other multi-purpose blockchains at the expense of the resources needed for monetary transactions. 

Get ready for a deluge of “Build on Bitcoin” DeFi, inscriptions and covenants products that will move Bitcoin firmly into “the Web3 space”. Bitcoin Core and their sponsors have ensured that Bitcoin isn’t just boring old money anymore! https://t.co/rcNUP6d5Un

— Justin Bechler (@1914ad) June 9, 2025

Moreover, the way Bitcoin Core developers insisted on their vision, ignored or hid the messages of opposition on various platforms, or attempted to move the discussion away from public spaces, contributed to the controversy surrounding the debate that made waves across the cryptocurrency community. 

Previously, at this level of controversy PRs were just closed after being called controversial but not nowClearly, the motivation behind this has nothing to do with improving the protocol

— Delta-V (@SellSideShits) June 9, 2025

However, Bitcoin Core devs insist that they are right. They say that those who feel a distaste for Bitcoin Core 0.30 may just fork. They don’t pretend to believe this may be efficient. 

The attack on core is a psyop. So obnoxious and disrespectful. Just fork already so we can short you to zero

— David Bailey🇵🇷 $1.0mm/btc is the floor (@DavidFBailey) June 8, 2025

Many years ago, Bitcoin ABC and Bitcoin SV were fighting over the block size and the name of the true Bitcoin. At the end of the day, both currencies lost to the original Bitcoin. Will Bitcoin Core’s implementation turn Bitcoin into something different? Will learn by the end of the year.

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Ravencoin token price continued its strong uptrend this week and is nearing its highest point this month.

Ravencoin (RVN) rose to $0.02180, up 145% from its lowest point in April, giving it a market capitalization of $330 million. The rally coincided with the broader crypto market surge that has pushed the total market cap of all coins close to $3.5 trillion.

RVN’s rally started after Upbit, the biggest crypto exchange in South Korea listed it on June 4. 

Since then, more Ravencoin tokens have continued to move out of centralized exchanges, a sign that holders are not selling. Net outflows stood at $793,000 on Wednesday, up from $643,000 a day earlier.

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Ravencoin’s futures open interest soared to $76 million, the highest point since March last year. It has remained above $70 million in recent days, indicating rising demand and liquidity.

Ravencoin is a proof-of-work cryptocurrency created from Bitcoin’s software. Like Bitcoin Cash (BCH) and Litecoin (LTC), its main difference from Bitcoin is a supply limit of 21 billion tokens, compared to Bitcoin’s 21 million.

Ravencoin price technical analysis

RVN price chart | Source: crypto.news

The daily chart shows that RVN token price bottomed at $0.008977 in April. It has since bounced back, rising to a high of $0.02573, its highest point since December last year.

Ravencoin moved above the key resistance level at $0.0126, its lowest point in August last year. The coin is about to form a golden cross pattern as the 50-day and 200-day Weighted Moving Averages near a crossover. A golden cross is a widely followed bullish pattern that signals market strength.

The Relative Strength Index and the Stochastic Oscillator are both pointing upward, indicating that momentum is building.

Ravencoin price has moved above the 23.6% Fibonacci Retracement level. Therefore, the token will likely continue rising as bulls target the 50% retracement at $0.03523, about 50% above the current level. A drop below the support at $0.020 would invalidate the bullish outlook.

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Algorand price has bounced back this month as the crypto market rally accelerated and its network growth continued.

Algorand (ALGO) rose to a high of $0.2075, its highest swing since May 30 and 17% above the lowest point this month. It remains 66% below its highest point since December last year.

Nansen data shows that Algorand was the best-performing blockchain in the crypto industry over the last seven days. The network handled 13.69 million transactions during that period, a 54% increase from a week earlier. Similarly, active addresses rose by 54% to 1.264 million.

Algorand active addresses | Source: Nansen

More data shows that the stablecoin supply on Algorand is slowly bouncing back. The stablecoin market cap has jumped by 12% in the last seven days to $53.8 million, up from $41.5 million on May 28.

In a recent X post, the Algorand Foundation said that online stake jumped to 7.1%, crossing the 2 billion milestone for the first time.

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Its Real World Asset tokenization total value locked rose by 2.64%, while monthly active users increased by 4.14%. Most of the RWA growth is on Lofty, a tokenized real estate marketplace that has surpassed $50 million in TVL.

May was a great month for Algorand:🔒 Online Stake +7.1%🔨 Asset Creation +4.72%📈 Monthly Active Users +4.14%🌎 RWA TVL +2.64%📊 Transaction Volume +2.2%We hit 3 billion transactions and 2 billion in online stake ✅Join our X Space on the 11th to hear what’s next 👇 pic.twitter.com/LfzX8oVqMb

— Algorand Foundation (@AlgoFoundation) June 9, 2025

Algorand has been in the spotlight after losing a FIFA deal on NFT to Avalanche (AVAX). 

Algorand price technical analysis

ALGO price chart | Source: crypto.news

The daily chart shows that the ALGO price bottomed at $0.1462 on April 7 before bouncing back. It has formed an ascending channel, connecting the higher highs and higher lows since April 7. This channel is part of a bearish flag pattern, a common continuation signal.

Algorand price remains below the 50-day and 100-day Exponential Moving Averages. It is also consolidating at the 78.6% Fibonacci Retracement level at $0.2083.

Therefore, the token will likely resume the downtrend and potentially retest the key support level at $0.1462, its lowest point on April 8. A move above the psychological level at $0.25 would invalidate the bearish outlook.

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A 38-year-old Russian founder of a cryptocurrency payment firm has been charged by the United States Department of Justice for the operation of a multi-million dollar money laundering scheme.

According to a DOJ statement released on June 9, Iurii Gugnin, the New York-based founder of crypto firm Evita is facing a a 22-count indictment for charges revolving around the use of his company to funnel more than $500 million in illicit funds.

Prosecutors allege that Gugnin moved the funds through the U.S. financial system to support transactions for sanctioned Russian banks, defraud American financial institutions, and aid the export of controlled technology to the Russian government.

The founder is also accused of deceiving banks and crypto exchanges by hiding the true nature of Evita’s business, falsely claiming that his company had no dealings with Russian entities or sanctioned organizations. Additionally, Evita failed to implement required anti-money laundering controls and did not report suspicious activity, enabling illegal transactions.

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If convicted, Gugnin faces up to 65 years in prison for each count of bank and wire fraud, money laundering, failure to implement anti-money laundering measures, among others.

Iurii Gugnin’s charges come as the DOJ ramps up its crackdown on illicit crypto activities. Just days earlier, the agency filed to seize nearly $7.74 million tied to a similar laundering scheme run by North Korean cybercriminals. The funds, in that case, were linked to individuals and entities using false identities to gain employment in U.S.-based companies. The proceeds were then funneled through a coordinated laundering operation involving tactics like chain hopping and token swaps to obscure the origin of the funds.

Commenting on Gugnin’s charges, Assistant Director of the FBI’s Counterintelligence Division Roman Rozhavsky emphasized the commitment of U.S. law enforcement agencies to fishing out bad actors. “Let this serve notice that using cryptocurrency to hide illegal conduct will not prevent the FBI and our partners from holding you accountable,” he said. 

Read more: DOJ narrows charges against Tornado Cash co-founder Roman Storm ahead of July 14 trial

Guggenheim Treasury Services, a subsidiary of Guggenheim Capital, has begun issuing U.S. Treasury-backed digital commercial paper on the XRP Ledger, marking the first native fixed-income product of its kind on the blockchain.

In a June 10 press release, Ripple announced that Guggenheim’s DCP would now be available on XRP (XRP) Ledger through the Zeconomy platform. Since its initial launch on Ethereum (ETH) in September 2024, the tokenized asset, which has been rated Prime-1 by Moody’s, has processed over $280 million in volume and offers custom maturities of up to 397 days.

DCP, which boasts quicker settlement, reduced fees, and round-the-clock accessibility, has become the first native commercial paper issued on XRPL. It’s issued through a bankruptcy-remote SPV, ensuring investor protections, and aims to modernize traditional treasury operations by integrating digital debt into cross-border payment flows.

Ripple will invest $10 million in DCP as part of the partnership, which may later include support for RLUSD purchases. RLUSD, Ripple’s USD-backed stablecoin launched in December 2024, has already exceeded $350 million in circulating supply.

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“The inception of DCP is a prime example of institutions shifting from experimentation to production,” said Markus Infanger, senior vice president of RippleX. “It expands the offering of institutional assets on XRPL, which is designed for regulated financial products requiring speed, scale, and compliance.”

The expansion arrives at a time when XRPL has seen a decline in usage. As reported by crypto.news on June 9, on-chain activity has been slipping, transaction and payment volumes have dropped, and active addresses have decreased between May and June. By introducing steady institutional flows into the network, this partnership may help to reverse that trend. 

The DCP expansion builds on Ripple’s growing push into real-world asset tokenization. The company has previously invested in similar tokenized treasury projects, including Ondo’s OUSG and Archax’s partnership with asset manager Abrdn.

According to a recent Ripple-BCG report, bonds will drive the adoption of the tokenized RWA market, which is expected to grow from $600 million today to nearly $19 trillion by 2033. DCP is currently available exclusively to Qualified Institutional Buyers and Qualified Purchasers.

The product offers a regulated, yield-bearing onchain asset that institutional traders can integrate into liquidity and collateral strategies, blending traditional fixed income with blockchain-native efficiencies. 

Read more: Ripple to provide grants to Japanese Web3 projects building on the XRP Ledger

American Bitcoin, a mining firm backed by Eric Trump and Donald Trump Jr., has accumulated 215 Bitcoin, worth nearly $24 million, since launching operations on April 1, according to a June 6 SEC filing.

The company, known formally as ABTC, intends to go public later this year through a stock-for-stock merger with Gryphon Digital Mining. The filing outlines ABTC’s unconventional approach: Bitcoin (BTC) ownership isn’t a byproduct of mining—it is the business.

The firm describes its strategy as “layered,” focusing on producing Bitcoin below market cost, leveraging capital to expand its treasury, and participating actively in the broader Bitcoin ecosystem.

Unlike traditional miners that build and operate their own infrastructure, ABTC contracts out its mining operations.

Notably, the firm’s 215 BTC reserve—held securely with Coinbase Custody—is part of an open-ended strategy. ABTC said it plans to increase its holdings over time, depending on market conditions and capital availability.

This approach echoes Michael Saylor’s Bitcoin treasury strategy at MicroStrategy, which has influenced a number of corporate accumulators.

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Upcoming merger

American Bitcoin announced their merger with Gryphon Digital Mining in a stock-for-stock deal announced on May 12, 2025. Although Gryphon was the acquirer, American Bitcoin shareholders took 98% ownership of the new entity, which retained the American Bitcoin name.

Gryphon Digital Mining Announces Merger with American Bitcoin. Read the press release here: https://t.co/vtsk5yIzLJ $GRYP @AmericanBTC pic.twitter.com/Xg6JyUJ0tU

— Gryphon Digital Mining (@GryphonMining) May 12, 2025

Though ABTC employs just one full-time employee, its ambitions extend beyond mining efficiency. By treating Bitcoin accumulation as its central business model and avoiding high fixed costs, the company aims to become a high-leverage proxy for BTC exposure.

The company planned to become the largest pure-play Bitcoin miner and seek a Nasdaq listing under the ticker ‘ABTC.’

As scrutiny mounts over the role of crypto foundations, a16z crypto says it’s time to move on and build with better tools.

Crypto venture giant a16z crypto thinks it’s time to move on from big, centralized crypto foundations and let communities take the lead instead, as they roll out a new framework aimed at helping protocols govern themselves from day one.

In a new blog post, a16z crypto head of policy & general counsel Miles Jennings said it’s “time for the crypto industry to move on” from the non-profit structures that have long underpinned blockchain development. While these foundations once played a key role in navigating unclear regulations and fostering decentralization, the post argues they now “create more friction than decentralization.”

“[…] today, ask any founder who’s launched a network and they’ll tell you: Few things slow you down more. Foundations now create more friction than decentralization.”

Miles Jennings

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The comments come at a time when governance structures in crypto are under fresh scrutiny, especially those tied to the Ethereum Foundation. While the post doesn’t name it explicitly, it points to the Ethereum Foundation as one of the better examples, noting it has been “a boon to the growth and development” of Ethereum. Still, a16z suggests the overall model is no longer fit for purpose.

“Even with all the progress achieved by the Ethereum Foundation, does anyone think that Ethereum would be better off without all the products and services built by the for-profit ConsenSys?”

Miles Jennings

The shift in tone seems to reflect not just internal frustrations from founders but also changing winds in U.S. crypto policy. New congressional proposals are inching away from an “efforts-based” decentralization framework — the one that often led projects to distance themselves from their own networks — toward what Jennings describes as a “control-based maturity framework.”

Crypto.news reached out to the Ethereum Foundation and several others, and we’ll update the article once we hear back.

‘People spending other people’s money’

Under the new approach, a founder could continue working on their network without pretending to disappear from it. That, Jennings writes, reduces the need for what he calls “convoluted workarounds” like offshore foundations.

The post doesn’t sugarcoat it: the foundation model isn’t a smart legal trick anymore. These days, some see it as a pricey, clunky setup that messes with incentives, slows things down, and brings in hidden power plays. Jennings suggests that foundations suffer from weak accountability and poor alignment between incentives and outcomes.

“The foundation funding model is one of patronage: Tokens are allocated and then sold for fiat, and that capital is spent without a clear mechanism to tie expenditures to outcomes. People spending other people’s money, with minimal accountability, rarely optimize for impact.”

Miles Jennings

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The critique hinges largely on how foundations are funded. Since they don’t have shareholders, they often rely on selling pre-allocated tokens for fiat, spending that money with little direct feedback from the market. Without a profit motive or a competitive market mechanism, a16z argues, it becomes hard to measure whether a foundation is succeeding.

“Accountability is built into corporate structures,” Jennings writes, adding that in his view, traditional companies — developer companies, in particular — are better suited to build out protocols and tools. They can hire top talent, allocate capital efficiently, and are bound by market discipline.

That’s a stark contrast to the reality for many foundations. Legal and tax restrictions often prevent them from engaging in for-profit ventures, even when such ventures would clearly benefit the network they’re meant to support. A16z crypto gives the example of consumer-facing applications, which some foundations are barred from running, despite those apps driving traffic, value, and utility to the chain.

And when foundations try to operate anyway, they can end up acting more like centralized gatekeepers than decentralized stewards. The post notes that some now control “treasury keys, critical operational functions, and network-upgrade rights,” while being insulated from the accountability mechanisms tokenholders might expect.

A better, simpler alternative

The Menlo Park-headquartered venture capital firm isn’t holding back on the whole scene around foundation setups either. Getting one going can easily run you half a million bucks or more, plus weeks or months of dealing with lawyers and accountants. Jennings notes it’s gotten so messy that it’s hard to find lawyers who actually know how to set up these foreign foundations anymore.

In short, the system appears to be buckling under its own weight. Not only are foundations hard to justify legally, but they’re also increasingly viewed as a poor fit economically, and operationally, they may be harming the very teams they’re meant to support.

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Many founders are said to be forced into splitting up their core teams just to satisfy the appearance of separation between foundation and company staff. That leads to awkward questions, according to a16z crypto “Can foundation employees be in the same Slack channel as company employees? Can the organizations share a roadmap?”

In the firm’s view, these are distractions that bog down progress. The alternative? Plain old companies.

“Unlike foundations, companies can deploy capital efficiently, attract top talent through offering more than just tokens, and respond to market forces through feedback loops on their work. Companies are structurally aligned with growth and impact, not dependent on charitable funding or vague mandates.”

Miles Jennings

Jennings isn’t saying companies have it all figured out. The post admits there are worries that corporate setups might build networks to benefit themselves more than tokenholders.

Yet, it argues these issues are easier to spot and fix with new regulations, especially if the rules favor transparent, on-chain systems and push back against offchain, centralized control.

Read more: Uniswap Foundation reports $140M in Q1 revenue, $12.4M committed to new grants

ZBX and Naoris Protocol are cooperating to create what they claim will be the first cryptocurrency exchange that will be safe from quantum computing threats in the future.

ZBX and Naoris Protocol have signed a Memorandum of Understanding that focuses on integrating advanced, post-quantum cybersecurity into ZBX’s infrastructure, crypto.news can exclusively report.

Under the agreement, ZBX will use Naoris Protocol’s decentralized protection system, which includes a self-healing security network. The goal is to spot and neutralize attacks in milliseconds, marking a significant speed improvement compared to the current breach detection average of around 272 days.

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Preparing for ‘Q-Day’

A key goal of the initiative is to prepare ZBX for a potential future scenario termed “Q‑Day,” when quantum computers will be powerful enough to break current encryption standards. ZBX hopes to secure user assets with post-quantum encryption and use quantum-resistant signatures in all transactions.

“The current crypto security paradigm is no longer sufficient,” David Carvalho, Founder of Naoris Protocol, said in the press release. ” Web3 projects still rely heavily on Web2 infrastructure, which creates single points of failure and makes them vulnerable to existing attack vectors and future quantum threats.”

This development coincides with instances of rising digital asset theft. Hackers stole more than $2.2 billion from cryptocurrency exchanges in 2024, representing a 21% increase from the prior year. Expectations for a reversal in trends in 2025 and beyond were shattered when Bybit confirmed the theft of $1.5 billion worth of funds, representing the largest crypto heist in history.

Security is ‘the foundation’

By combining with Naoris, ZBX hopes to strengthen its position as a MiCA-compliant platform that meets stringent and constant changing regulatory standards while bolstering user trust.

“Security isn’t a feature—it’s the foundation,” said ZBX founder Jimmy Zhao. “With Naoris, we’re going beyond the industry standard. We’re making ZBX the safest, most resilient exchange architecture in the world. We are creating a new global standard.”

For Naoris Protocol, this marks a high-profile deployment, showcasing that quantum-resilient, decentralized cybersecurity solutions can perform at scale in critical financial environments. Since launching in January 2025, the protocol has processed over 64 million transactions and mitigated 341 million threats, underscoring its capability to deliver security at scale.

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TRON has kicked off a critical vote to halve block and voting rewards, which would significantly raise TRX’s annual deflation rate from 0.85% to 1.29%

The TRON (TRX) network has officially commenced voting on Proposal No. 102, which seeks to cut the block reward from 16 TRX to 8 TRX and reduce the voting reward from 160 TRX to 128 TRX. Launched by TRON’s community super representatives today, June 10 at 11:07 AM Singapore time, the voting window will remain open until June 13 at 2:00 PM.

If passed, the proposal would raise TRX’s annual deflation rate from 0.85% to 1.29%. This means that the new supply of TRX will continue declining, significantly increasing its scarcity and potentially boosting the token’s proce — which is good news for TRX HODLers.

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The vote comes as TRX price tracks towards the upper boundary — around $0.30— of a well-defined ascending channel that has guided the market since mid-March. The RSI sits in the bullish territory at 64 without showing signs of divergence, and the MACD has recently triggered a bullish crossover with rising histogram bars.

Source: TradingView

Should TRX price break the upper trendline resistance around $0.30, it could trigger a strong bullish continuation, with the next price target extending toward $0.33 based on the measured move from the ascending channel.

However, the price will likely first pullback and retest the lower trendline at ~$0.27 because RSI is nearing overbought territory, which often precedes pullbacks.

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First Force is set to launch a new Telegram token collection inspired by the TAC community on June 17, marking one of the largest drops on the TON ecosystem.

According to a press release sent to crypto.news, the First Force token collection consists of 10,000 unique Soulbound Tokens or SBTs inspired by the TAC community. TAC is a blockchain designed for EVM dApps to access the TON (TON) and Telegram ecosystem user base.

Each NFT is valued at 30 TON each or approximately $100 according to current market prices. At press time, TON has gone up by more than 4% in the past 24 hours of trading. The token has managed to reach a value of around $3.29.

Each token is permanently bound to the holder’s wallet and cannot be transferred or sold to other entities. This reflects the SBT concept of anchoring one’s digital identity on-chain. Therefore, the project employs a limit of one mint per wallet across the board.

By holding a unique SBT, holders are granted access to future community-driven experiences and opportunities.

A sneak peek of the TAC-inspired collection First Force set to debut on Telegram | Source: First Force

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Whitelist registrations for the SBT collection opens on June 10, with the first phase starting on June 17, where 2,000 mint slots will be distributed. On the other hand, the second phase will proceed on a first-come, first-served basis. Traders will be able to mint the TAC-inspired token on TON’s NFT marketplace, Getgems, where 8,000 SBTs will be made available through a public watchlist.

The artwork features TACMAN, a robot-like identity used widely by the TAC community.

TAC was built with the aim of making it easier for builders to deploy Ethereum dApps on the TON blockchain. Therefore, First Force dedicates its new collection to builders and early supporters of the protocol whose efforts have helped to “bring Ethereum (ETH)’s open innovation to the heart of Telegram.”

Last April, TAC announced a collaboration with Agglayer to launch a networking event that took place in Topgolf Dubai on April 30. The event brought together industry leaders from both the EVM space and TON ecosystems.

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

As XRP gains traction amid market volatility, a growing number of users are turning to AI-powered cloud mining platforms like SAVVY MINING to earn passive daily income.

Table of Contents

How to make money through cloud mining

Three simple steps to start earning stable daily income

SAVVY MINING (2025) cloud mining investment plans

Why choose SAVVY MINING cloud mining?

SAVVY MINING: 8 major advantages

Safe and sustainable future mining model

Summary

According to CoinGecko, XRP is currently trading at $2.18, up 3% in the past 24 hours. According to Whale Alert, 50 million XRP tokens (worth $108 million at the time of the transfer) were also transferred from one unknown wallet to another earlier this Friday. Of these, long positions were $11 million and short positions were $7 million. The entire cryptocurrency market has been volatile recently, and XRP is one of the assets affected.

This article will explore how to remotely start cloud mining and earn passive income daily.

How to make money through cloud mining

No hardware or technical knowledge is required to participate. SAVVY MINING allows users to rent computing power remotely and easily obtain crypto income every day. XRP has strong liquidity and low volatility, which is particularly suitable for long-term cloud mining. 

The platform also provides computing power optimization, green energy mining and AI algorithm support for XRP, making investment more efficient and environmentally friendly. 

Three simple steps to start earning stable daily income

Step 1: Quick registration

Complete the registration in one minute and get $15 free bonus immediately, as well as $0.6 daily sign-in income.

Step 2: Choose the right contract

Freely choose from a variety of income plans, whether it is short-term income or long-term profit, SAVVY MINING can tailor it for users.

Step 3: Enjoy the income with peace of mind

The system runs automatically, users don’t need to perform any operations, the income is paid to their account every day, and they can withdraw it to their crypto wallet at any time, realizing the freedom of daily passive income.

SAVVY MINING (2025) cloud mining investment plans

⦁【Experience Contract】: Investment amount: $100, total net profit: $100 + $7.32.

⦁【AntMiner S17 Pro】: Investment amount: $500, total net profit: $500 + $31.5.

⦁【Whats Miner M61】: Investment amount: $3,000, total net profit: $3,000 + $616.5.

⦁【ETCMinerE9 Pro】: Investment amount: $5,500, total net profit: $5,500 + $2,376.

⦁【ALPHMinerAL1】: Investment amount: $13,800, total net profit: $13,800 + $10,308.6.

For example: If users invest $13,800 to purchase the [ALPHMinerAL1] contract with a term of 45 days and a daily yield of 1.66%, the system will automatically distribute the yield every day after the contract is activated.

Daily yield is calculated as follows: 13,800 × 1.66% = $229.08/day

Total yield after the contract ends: principal $13,800 + accumulated yield 229.08 × 45 = $10,308.6, total amount: $24,108.6

The platform launches a variety of stable income contracts from time to time, which can be viewed on the contract page of the SAVVY MINING official website.

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Why choose SAVVY MINING cloud mining?

In 2025, SAVVY MINING has evolved into an intelligent cloud mining ecological platform, which comprehensively innovates the traditional mining experience. The platform integrates AI computing power allocation system and green energy drive solution, and fully supports efficient mining of mainstream currencies such as BTC, DOGE, LTC, ETH, BNB, etc. 

Without equipment investment or technical background, users only need to register an account with an email on their mobile phone or computer to easily start the intelligent cloud mining journey and start the all-weather profit mode.

SAVVY MINING: 8 major advantages

The platform’s professional customer service team is online 24/7 throughout the year, ensuring that every user’s question is answered quickly in just 1 to 5 minutes.

The platform supports a variety of mainstream cryptocurrencies, including USDT-TRC20, BTC, ETH, LTC, USDC, XRP, USDT-ERC20, BCH, DOGE, SOL, etc., to meet the asset management needs of different users.

Environmental protection concept: using energy to generate electricity, using the free and recyclable electricity provided by nature (wind power, hydropower, solar energy, etc.) to provide a stable power supply for mining machines.

National-level security guarantee: SSL encryption of funds + data encryption to ensure the security of each user’s account and funds.

Strong platform strength: 8 years of safe operation, 80+ mining farms worldwide, serving more than 8 million users.

By inviting friends to register, users enjoy a long-term referral commission of up to 4.5%. The more users promote, the more generous the rewards will be, up to $100,000.

High returns, daily dividends, no other service fees and management fees.

All user taxes and fees are included in the contract package. The platform will pay the taxes and fees on the users’ behalf. All profits the user earns belong to them, and they do not need to pay any taxes and fees.

Safe and sustainable future mining model

In the world of cloud mining, user trust and asset security are always at the core. SAVVY MINING deeply understands this and regards the protection of user funds and transparent operation of the platform as its top priority. 

All mines deployed by the platform around the world are operated by renewable energy to achieve the dual goals of low carbon emissions and green computing power. 

Through legal and compliant operating mechanisms and intelligent risk prevention and control systems, SAVVY MINING has created a safe, efficient, and sustainable mining environment for users, allowing every participant to obtain long-term and stable returns on an environmentally friendly basis.

Summary

Crypto assets have great growth potential. With SAVVY MINING cloud mining, users can not only achieve steady profits, but also balance asset security and long-term sustainable development. More and more investors are no longer just passive holders, but choose to obtain passive income every day through cloud mining, making XRP really “move”.

To learn more about SAVVY MINING, visit the official website and contact the team on [email protected]. 

Read more: Innovation and combination: XRP enthusiasts teach users how to earn with SAVVY MINING

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Japanese banking firm SBI Holdings has announced a $50 million joint investment into Circle, following its recent $1.1 billion IPO.

According to the financial giant’s official press release, the total investment worth at least $50 million will be divided equally between SBI Holdings and its subsidiary SBI Shinsei Bank. Each entity will contribute $25 million each into the USDC (USDC)-stablecoin issuer.

The Japanese bank’s decision to invest in the stablecoin firm comes only a few days after the Jeremy Allaire-led company officially went public by listing on the New York Stock Exchange on June 5, 2025.

The company cited Circle’s IPO as one of the main reasons for the investment, adding that there was also a strong demands from institutional investors who insisted SBI Holdings should invest in the stablecoin firm.

As a result, SBI Holdings claimed it has acquired “one of the largest allocations of Circle shares.”

At press time, Circle’s shares have jumped by more than 2% compared to its previous closing price at around $115. It is currently valued at over $117, marking a significant 277% surge from its initial offering price at $31.

Price chart depicting Circle’s stock value in the past few hours, June 10, 2025 | Source: Yahoo Finance

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In a joint statement, SBI Holdings Chairman Yoshitaka Kitao and SBI Shinsei Bank CEO Katsuya Kawashima inferred that The SBI Group believes that by delving into digital assets, including crypto assets, they will be able to expand and satisfy the growing market demand for stablecoins and other assets.

”The SBI Group believes that digital assets, including crypto assets, will play a vital role in the future of the financial industry, and have been actively investing in and forming partnerships with promising companies in this field,” wrote the Japanese financial firm.

Before its $50 million-investment into Circle, SBI Holdings also invested in Ripple Labs in 2016. This led to the firm establishing a joint venture with Ripple called SBI Ripple Asia.

Last March 2025, SBI’s Venture Capital arm, SBI VC Trade, became the first firm in Japan to receive regulatory approval to handle stablecoins. It also became the first company to offer USDC to the public.

In order to accelerate USDC adoption in the Japanese market, both firms eventually agreed to establish a joint venture company, Circle SBI Japan KK.

Read more: SBI VC Trade will launch the first stablecoin service in Japan

Under the leadership of Paul Atkins, the U.S. Securities and Exchange Commission is looking to fast-track crypto innovation through exemptions and tailored rulemaking.

During the fifth meeting of the SEC’s Crypto Task Force roundtable titled DeFi and the American Spirit, Atkins outlined plans for a new “innovation exemption” that would provide conditional relief from certain regulatory requirements.

While broader regulatory changes remain under development, the exemptions would provide a temporary structure to support the safe deployment of onchain services.

Atkins said the exemptions would be designed to support firms that are willing to meet specified conditions while developing blockchain-based systems. These measures, he noted, would allow for responsible innovation within the boundaries of investor protection and market integrity.

He also revealed that SEC staff have been directed to evaluate whether additional guidance or rule changes may be needed to help registrants interact with self-executing software systems in compliance with securities laws.

“These on-chain self-executing software systems have proven to be resilient in the face of crises,” he said, contrasting them with centralized platforms that have failed under recent stress. 

“Many on-chain systems continued to operate as designed pursuant to open-source code.”

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Atkins emphasised that most securities regulations were built around traditional intermediaries such as broker-dealers and exchanges.

“The drafters of these rules and regulations likely did not contemplate that self-executing software code might displace such issuers and intermediaries,” he noted, calling for regulatory flexibility to accommodate these new models.

Atkins, appointed earlier this year as part of President Trump’s push to establish the U.S. as a global leader in crypto innovation, has called for a “rational regulatory framework” that balances innovation with investor protection.

In contrast to his predecessor’s approach, Atkins is steering the SEC toward inclusive policymaking that recognises the operational differences between traditional financial intermediaries and decentralised systems. 

Since taking office, he has repeatedly stressed the need for structured, participatory rulemaking that reflects the unique characteristics of blockchain systems and crypto assets.

The SEC’s Crypto Task Force, led by Commissioner Hester Peirce, is expected to release its first policy report in the coming months. The report will contribute to a regulatory foundation that Atkins says is urgently needed to support the growth of onchain technologies and provide long-awaited clarity for market participants.

Read more: SEC chair Paul Atkins unveils plans to remake rules on crypto securities

Just months after its previous major mint event, Tether has once again minted a significant amount of tokens, likely in anticipation of increased demand.

A recent move suggests Tether is preparing for a new wave of liquidity. On Monday, June 9, Tether minted $1 billion USDT on the Tron (TRX) blockchain, according to several blockchain analysts. This represents a sizable liquidity injection, even for the world’s largest stablecoin.

Notably, the $1 billion mint accounts for more than 1% of all USDT supply on Tron, the blockchain that hosts the majority of USDT tokens. Currently, USDT supply on Tron stands at $76 billion, followed by Ethereum (ETH) with $63.2 billion. Tether’s total circulating supply is 156 billion.

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Tether’s move is seen as a bullish signal by many traders. Historically, the stablecoin issuer mints USDT in anticipation of future demand for liquidity. While the freshly minted tokens have not yet entered circulation, their creation suggests that Tether expects rising demand and increased trading volume in the near term.

This behavior has led to a recurring pattern: USDT issuance often coincides with bullish momentum across the crypto market. Tether’s last major mint occurred on May 21, when it issued 2 billion USDT on Tron. Just one day later, Bitcoin rose to its all-time high of $111,000.

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Tether dismisses calls for IPO

Tether remains a private company and is one of the largest for-profit entities in the crypto industry. Notably, analyst Jon Ma estimated that a Tether IPO would value the company at $515 billion. However, CEO Paolo Ardoino dismissed the idea, stating there is no need for the company to go public.

Still, listing publicly would bring greater financial transparency—an area where Tether has faced longstanding criticism. Most recently, proposed U.S. stablecoin regulation has raised concerns that Tether could be pushed out of the market unless it adjusts its approach to disclosures.

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Donald Trump’s crypto brand has been hogging headlines all week, thanks to the public spat between his family and the team behind a wallet project tied to the president. However, following all the drama, tensions seem to be easing.

The crypto wallet saga involving Donald Trump’s sons and Gettrumpmemes, the company in charge of the memecoin tied to the president recently took a new turn, when Eric Trump took to social media platform X with a reconciliation post.    

“I am proud to announce the $TRUMP Meme Coin has aligned with @WorldLibertyFi,” he wrote. 

Eric’s post came only a few days after the family publicly rallied against the firm for launching a crypto wallet tied to their brand without authorization. At the time, the Trumps accused Gettrumpmeme’s partnership with Magic Eden of having “zero involvement” with their organization, even resorting to legal action to thwart the initiative. 

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While he confirmed that the wallet project itself will not move forward, the shift in tone came alongside his announcement that their DeFi venture, World Liberty Financial, will acquire a significant stake in the $TRUMP memecoin. According to him, this symbolizes the duo’s joint “vision for crypto, patriotism, and long-term success.”

However, Eric’s announcement has once again sparked criticism around the family’s crypto ventures. Skeptics argue that the majority of the projects involved lack transparency and are riddled with inconsistencies, questioning whether they are primarily driven by personal profit rather than genuine interest in the crypto industry.

"Plans to acquire".Yes, they warn you before buying, just for them to buy higher afterwards…. Makes sense. Such nice people lol.Another obvious manipulation to grab more cash from retail.Even if it pumps and you have a bag, I would advice ou to take profit as soon as you…

— Miles (@Miles__Tweet) June 7, 2025

This sentiment reflects the broader skepticism across the community, with many viewing the ventures as more opportunistic than authentic.

Despite the announcement, the $TRUMP token has recorded no notable price movement. At press time, it trades around 77% below its all-time high and is down nearly 30% over the past 30 days. 

Read more: Trump-linked media platform Truth Social files for spot Bitcoin ETF