The past week in the world of cryptocurrency was nothing short of eventful. From legislative moves aimed at curbing alleged corruption in cryptocurrency ventures to bold predictions about Bitcoin&#8217;s dominance, the week was filled with intriguing developments.



Here&#8217;s a quick recap of the top stories that made headlines.



Adam Schiff Takes Aim At Trump&#8217;s Crypto Ventures



In a bid to curb what he calls &#8220;corruption in plain sight,&#8221; Rep. Adam Schiff (D-Calif.) introduced legislation targeting cryptocurrency ventures by President Donald Trump and other senior administration officials. Schiff&#8217;s proposed COIN Act seeks to put an end to the alleged corruption in these ventures.



<a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46067898/trumps-crypto-ventures-have-been-lucrative-but-adam-schiff-says-he-is-bringing-in-a-law-to-">Read the full article here.</a>



Tim Draper Foresees Bitcoin&#8217;s Dominance



Billionaire investor Tim Draper predicts that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) will completely dominate the dollar within the next five years. Draper, a long-time Bitcoin advocate, attributes this potential dominance to the unprecedented innovation on the Bitcoin network.



<a href="https://www.benzinga.com/crypto/25/06/46107772/tim-draper-says-this-will-be-the-fate-of-bitcoin-and-the-dollar-in-5-years-billionaire-highlights-apps-built-on-btc-that-matter">Read the full article here.</a>



See Also:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/06/46150671/bitcoin-ethereum-xrp-dogecoin-trade-flat-on-friday-but-one-major-leg-up-left-says-trader" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, XRP, Dogecoin Trade Flat On Friday But &#8216;One Major Leg Up Left,&#8217; Says Trader</a>



Cathie Wood&#8217;s Exciting Prediction for Bitcoin



Despite Bitcoin&#8217;s 400x rise, Cathie Wood, CEO of ARK Invest, believes that the &#8220;next exciting leg&#8221; of Bitcoin&#8217;s growth journey is just beginning. Wood&#8217;s comments came in response to billionaire hedge fund manager Philippe Laffont&#8217;s views on Bitcoin.



<a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46087464/bitcoins-400x-rise-aside-cathie-wood-says-the-next-exciting-leg-is-just-beginning">Read the full article here.</a>



Tom Lee&#8217;s Prediction for MicroStrategy



Tom Lee, head of research at Fundstrat Global Advisors, predicts that Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), formerly known as MicroStrategy, could deliver superior returns compared to Bitcoin itself as the cryptocurrency rallies.



<a href="https://www.benzinga.com/crypto/25/06/46089976/tom-lee-says-microstrategy-could-outpace-bitcoin-gains-goes-up-a-lot-more-as-btc-rallies">Read the full article here.</a>



Trump Family-Backed Crypto Venture&#8217;s New App



World Liberty Financial, a crypto venture backed by U.S. President Donald Trump, plans to launch a new app aimed at making it easier for lay investors to use cryptocurrencies. The Trump family, which holds a 75% claim on the venture&#8217;s net revenues, has faced criticism due to potential conflicts of interest.



<a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46107720/trump-family-backed-world-liberty-financial-plans-to-launch-a-new-app-that-will-make-it-eas">Read the full article here.</a>



Read Next:



<ul class="wp-block-list">
<li><a href="https://benzinga.com/crypto/cryptocurrency/25/06/46146124/bitcoin-yields-of-up-to-8-are-no-longer-a-fantasy-heres-whos-offering-them" target="_blank" rel="noreferrer noopener">Bitcoin Yields Of Up To 8% Are No Longer A Fantasy: Here&#8217;s Who&#8217;s Offering Them</a></li>
</ul>



Photo courtesy: Shutterstock



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

Trump's Crypto Ventures, Draper And Cathie Wood's Bitcoin Predictions, MSTR Estimates, And More: This Week In Crypto

Cryptocurrency markets remained largely flat on Friday, reflecting low trading volumes and signs of short-term technical fatigue. 



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Bitcoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$106,654.83</td></tr><tr><td>Ethereum</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$2,400.50</td></tr><tr><td>Solana</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$141.12</td></tr><tr><td>XRP</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.09</td></tr><tr><td>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1588</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001112</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>IntoTheBlock data shows Bitcoin's large transaction volume decreasing by 7.2% and daily active addresses growing by 2.5%. Transactions greater than $100,000 are down from 11,556 to 11,383 in a single day. Exchanges netflows are down by 41.7%.</li>



<li>Coinglass data reports 70,686 traders were liquidated in the past 24 hours for $263.27 million.</li>
</ul>



Notable Developments:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46139888/michael-saylor-says-bitcoin-treasury-companies-can-unlock-even-more-growth-heres-how">Michael Saylor Says Bitcoin Treasury Companies Can Unlock Even More Growth: Here&#8217;s How</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46137663/corporate-bitcoin-buying-spree-booming-strategy-or-ticking-financial-time-bomb">Corporate Bitcoin Buying Spree: Booming Strategy Or Ticking Financial Time Bomb?</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46146124/bitcoin-yields-of-up-to-8-are-no-longer-a-fantasy-heres-whos-offering-them">Bitcoin Yields Of Up To 8% Are No Longer A Fantasy: Here&#8217;s Who&#8217;s Offering Them</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46138627/bitcoin-to-new-highs-it-might-take-longer-than-you-think-glassnode-report-says">Bitcoin To New Highs? It Might Take Longer Than You Think, Glassnode Report Says</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46140769/north-korean-hackers-top-crypto-exploits-list-but-another-state-may-surprise-you">North Korean Hackers Top Crypto Exploits List, But Another State May Surprise You</a></li>
</ul>



Top Gainers:



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price&nbsp;&nbsp;&nbsp;</td></tr><tr><td>Pudgy Penguins</td><td>(CRYPTO: PENGU)</td><td>$0.01028</td></tr><tr><td>Sei</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">SEI</a>)</td><td>$0.2801</td></tr><tr><td>Render</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">RENDER</a>)</td><td>$3.11</td></tr></tbody></table></figure>



Trader Notes: Crypto trader Ted Pillows predicts Bitcoin still has one final, explosive move left in this cycle, eyeing a blow-off top above $160,000 sometime in 2025.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> has one major leg up left. It&#39;ll be the most explosive move before a blow-off top. $160K+ BTC in 2025 will happen. <a href="https://t.co/nC9mzL8RfU">pic.twitter.com/nC9mzL8RfU</a>&mdash; Ted (@TedPillows) <a href="https://twitter.com/TedPillows/status/1938562957392363536?ref_src=twsrc%5Etfw">June 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The Cryptomist <a href="https://x.com/Thecryptomist/status/1938640631875665936">says</a> BTC has already broken out and is now eyeing a push toward $109,000. If Bitcoin clears the $109,000–$109,500 resistance band, it could rally further to $111,000.



Roman, however, <a href="https://x.com/Roman_Trading/status/1938620587037102268">urges</a> caution. While acknowledging BTC's upside potential, he warns that high timeframe indicators resemble those seen near the 2021 market top, raising the risk of a 75%+ correction if history rhymes. The current risk-reward ratio, he suggests, is becoming less favorable.



Rekt Capital adds that Bitcoin's most recent price discovery correction lasted unusually long compared to prior cycles. For BTC to form three distinct price discovery legs, any next correction may be shorter and sharper, marking a potentially volatile final phase of the bull run.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> The Price Discovery Correction that Bitcoin experienced in recent months was very long by standards of history Which is why the next Price Discovery Correction will need to be much shorter if BTC is to enjoy three Price Discovery Uptrends (green)<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/LGmsTfdqFa">pic.twitter.com/LGmsTfdqFa</a>&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1938635115610931445?ref_src=twsrc%5Etfw">June 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46144212/bitcoin-ethereum-solana-lag-behind-robinhood-circle-coinbase-why-do-crypto-stocks-outperform-coins">Bitcoin, Ethereum, Solana Lag Behind Robinhood, Circle, Coinbase: Why Do Crypto Stocks Outperform Coins?</a></li>
</ul>



Image: Shutterstock

Bitcoin, Ethereum, XRP, Dogecoin Trade Flat On Friday But 'One Major Leg Up Left,' Says Trader

According to CoinLedger CEO David Kemmerer, thousands of U.S. crypto investors have recently received warning letters from the Internal Revenue Service (IRS), marking a significant escalation in the agency's efforts to <a href="https://www.benzinga.com/money/cryptocurrency-tax-guide#:~:text=Since%20cryptocurrency%20is%20treated%20like,term%20capital%20gains%20tax%20rates.">enforce tax compliance in digital assets.</a>



What Happened: In an <a href="https://www.benzinga.com/money/cryptocurrency-tax-guide#:~:text=Since%20cryptocurrency%20is%20treated%20like,term%20capital%20gains%20tax%20rates.">interview</a> with The Block, Kemmerer revealed that IRS letters targeting crypto investors have spiked 758% over the last two months, based on CoinLedger's internal tracking.



This surge comes ahead of the IRS's new 1099-DA reporting rules, set to take effect in January 2026. These regulations will require all crypto brokers to report both the gross proceeds and cost basis of digital asset sales, giving the IRS a far clearer picture of investor gains and losses.



Crypto investors may receive one of several IRS letter types, each indicating a different level of concern:



<ul class="wp-block-list">
<li>Letter 6174: Educational only — no action required.</li>



<li>Letter 6174-A: Indicates the IRS suspects underreporting — review and amend returns if necessary.</li>



<li>Letter 6173: More serious — IRS believes crypto income was underreported; a response is mandatory to avoid audit.</li>



<li>CP2000: Most severe — proposes additional tax due to income discrepancies; response required within 30 days.</li>
</ul>



Even compliant taxpayers can receive these notices due to cost basis errors, especially from wallet-to-wallet transfers, which are non-taxable but often misreported.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46137663/corporate-bitcoin-buying-spree-booming-strategy-or-ticking-financial-time-bomb">Corporate Bitcoin Buying Spree: Booming Strategy Or Ticking Financial Time Bomb?</a>



Why It Matters: Despite rumors that the administration may eliminate crypto taxes, no legislative change has occurred. 



Many investors wrongly assume they're not required to report crypto trades, leading to confusion, anxiety, and potential penalties.



CoinLedger emphasizes that most letter recipients are not tax evaders, but ordinary investors who may have made honest reporting mistakes—often from earlier bull cycles like 2021. On receiving the letter –



<ul class="wp-block-list">
<li>If compliant: Gather documentation like trade histories and 1099 forms to validate your return.</li>



<li>If non-compliant: Amend past returns using Form 1040X and consider including a written explanation.</li>



<li>If unsure or facing a serious letter (e.g., CP2000 or Letter 6173): Consult a tax professional immediately</li>
</ul>



In February, CoinLedger reported the average crypto investor gained $5,482 in 2024, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Hyperliquid (CRYPTO: HYPE) leading unrealized profits. On the flip side, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), and POL (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POL</a>) posted the largest losses.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46144212/bitcoin-ethereum-solana-lag-behind-robinhood-circle-coinbase-why-do-crypto-stocks-outperform-coins">Bitcoin, Ethereum, Solana Lag Behind Robinhood, Circle, Coinbase: Why Do Crypto Stocks Outperform Coins?</a></li>
</ul>



Image: Shutterstock

Why Crypto Investors Are Receiving Internal Revenue Service Warning Letters

U.S. President Donald Trump said Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is helping relieve pressure on the U.S. dollar, calling its increasing adoption "<a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46131815/trumps-crypto-advisor-david-sacks-says-july-will-be-a-big-month-says-president-supports-legislation-on-market-structure-and-stablecoins">a great thing for our country</a>."



Speaking about the evolving role of Bitcoin in the economy, Trump said that more people are using it for payments and that the digital asset has become an important part of the financial system.



"I noticed more and more you're paying Bitcoin," Trump said. "People are saying it takes a lot of pressure off the dollar. And it's a great thing for our country."



Trump clarified that he does not personally invest in Bitcoin, but said, "I have my kids and they invest in different things. They do believe in it." 



His comment aligns with the known fact that members of the Trump family have been publicly supportive of cryptocurrencies.



In particular, his son Eric Trump has emerged as a prominent advocate for Bitcoin. 



Eric has regularly spoken at crypto conferences and is involved in American Bitcoin, a company closely aligned with the Trump family that focuses on Bitcoin infrastructure and mining. 



Additionally, Trump Media &amp; Technology Group, linked to the former president, announced earlier this year that it planned to allocate billions of dollars toward Bitcoin as part of its treasury strategy.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46146124/bitcoin-yields-of-up-to-8-are-no-longer-a-fantasy-heres-whos-offering-them">Bitcoin Yields Of Up To 8% Are No Longer A Fantasy: Here&#8217;s Who&#8217;s Offering Them</a>



Trump emphasized that his role as president contributed to building an industry that has become strategically significant for the country. "What I did do there is build an industry that's very important," he said.



He also pointed out the geopolitical importance of the U.S. embracing crypto. "You know, we didn't have a [crypto] industry, China would," Trump said.



The Trump family has heavily invested in cryptocurrencies. 



Trump Media and Technology Group, the parent company of Truth Social, announced in May 2025 a $2.5 billion raise to create a &#8220;Bitcoin treasury.&#8221; 



The company, where Trump holds a 53% stake, aims to diversify its $700 million cash reserves into crypto assets, including exchange-traded funds like the proposed "Truth.fi Bitcoin Plus ETF." 



Additionally, American Bitcoin, a mining firm co-founded by Eric Trump and backed by Donald Trump Jr., merged with Gryphon Digital Mining to go public on Nasdaq in 2025. 



The family also holds a 60% stake in World Liberty Financial, which launched a stablecoin, USD1, and raised $550 million in token sales, including a $2 billion investment from an Abu Dhabi-based firm.



Trump's pro-crypto policies include an executive order signed in March 2025 to establish a Strategic Bitcoin Reserve and a Digital Assets Stockpile, aiming to position the U.S. as the "crypto capital of the world." 



His administration has paused a dozen federal crypto probes and dropped lawsuits against crypto firms, reversing Biden-era regulations. 



However, these moves have sparked concerns about conflicts of interest, with critics like Sen. Elizabeth Warren (D-Mass.) accusing Trump of "crypto corruption" due to his family's financial stakes.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46140769/north-korean-hackers-top-crypto-exploits-list-but-another-state-may-surprise-you">North Korean Hackers Top Crypto Exploits List, But Another State May Surprise You</a></li>
</ul>



Image: Shutterstock

Donald Trump Says 'Bitcoin Takes A Lot Of Pressure Off The Dollar'

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)-focused firm Strategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) is now facing at least five separate securities fraud lawsuits over its Bitcoin treasury disclosures, <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46137663/corporate-bitcoin-buying-spree-booming-strategy-or-ticking-financial-time-bomb">according to court filings</a>.



The legal actions, filed over the past several weeks, accuse the company of misleading investors about the profitability and risks tied to its aggressive Bitcoin acquisition strategy, Decrypt <a href="https://decrypt.co/327259/why-so-many-firms-suing-strategy-bitcoin-holdings">reported</a>.



The lawsuits cover the period between April 30, 2024, and April 4, 2025, when the company, previously known as MicroStrategy, allegedly made public statements that plaintiffs claim were "materially false and misleading."



The initial lawsuit was filed on May 16 by Pomerantz LLP, followed by nearly identical complaints from other law firms including Gross Law Firm, Bronstein Gewirtz &amp; Grossman, Kessler Topaz Meltzer &amp; Check, and Levi &amp; Korsinsky. 



Legal experts say this strategy is common in securities class actions, as law firms compete for lead counsel status, which can result in significant legal fees.



"Law firms jockey for position as lead counsel in securities class actions because the fees can be very lucrative," said Adam Pritchard, a professor at the University of Michigan Law School.



Under the Private Securities Litigation Reform Act of 1995, courts typically appoint the lead plaintiff based on who has the largest financial loss. 



That position holds influence over the case direction and which law firm will represent the class.



"Institutions are favored because they are likely to provide necessary oversight," explained Ann Lipton, a law professor at the University of Colorado. 



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46140769/north-korean-hackers-top-crypto-exploits-list-but-another-state-may-surprise-you">North Korean Hackers Top Crypto Exploits List, But Another State May Surprise You</a>



Law firms are actively promoting the July 15 deadline, after which a judge will select the lead plaintiff and consolidate the lawsuits.



It remains unclear whether any of Strategy's largest institutional investors, such as Vanguard, BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), or Capital International Investors, have signed on to lead the suits. 



Michael Saylor, the company's co-founder and Executive Chairman, remains the largest shareholder.



The legal scrutiny intensified after Strategy disclosed nearly $6 billion in unrealized Bitcoin losses in April, warning that it might not return to profitability. 



Although Bitcoin's price has since rebounded to around $107,000, the company reported a Q1 loss of $16.49 per share, following heavy Bitcoin purchases at an average price of $95,000 per coin.



Strategy has acknowledged the lawsuits in regulatory filings and said it plans to &#8220;vigorously defend against these claims.&#8221; 



The company has stated that it cannot yet estimate the potential outcome or financial impact of the cases.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46138627/bitcoin-to-new-highs-it-might-take-longer-than-you-think-glassnode-report-says">Bitcoin To New Highs? It Might Take Longer Than You Think, Glassnode Report Says</a></li>
</ul>



Image: Shutterstock

Bitcoin Heavyweight Strategy Faces Multiple Securities Fraud Lawsuits Over BTC Treasury Disclosures: Report

Dubai-based yield protocol Multipli has launched its institutional-grade Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) yield product, adding to its growing suite of offerings and attracting millions in capital within minutes of going live. 



The platform's Bitcoin product delivers up to 8% annual yield through cash-and-carry arbitrage strategies, bypassing high-risk lending practices.



The Bitcoin launch follows rapid growth in Multipli's stablecoin vaults, which have reached nearly $100 million in total value locked (TVL) just seven weeks after launch. 



Multipli's approach has resonated with crypto-native funds and family offices seeking sustainable, market-driven returns.



Multipli's yield strategies, which mirror conservative arbitrage tactics employed by large institutional players like BlackRock and Nomura, offer frictionless access for retail and institutional investors.



Unlike traditional funds that typically require $5 million minimums and involve complex onboarding, Multipli users can directly participate via tokenized fund shares with same-day liquidity and multi-chain support.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46112072/coinbase-is-the-amazon-of-crypto-services-price-target-boosted-to-510-bernstein">Coinbase Is The &#8216;Amazon Of Crypto Services&#8217;, Price Target Boosted To $510: Bernstein</a>



A company spokesperson said Multipli's platform eliminates traditional barriers to asset management, offering "risk-adjusted institutional-grade yield without institutional friction." 



The system is built to streamline access while providing transparency, on-chain performance data, and real-time dashboards.



The platform's yield mechanism involves going long spot Bitcoin and short futures to capture the basis spread, a strategy widely used in traditional finance but now available to smaller investors through Multipli's infrastructure.



Multipli's CEO, Shaaran Lakshminarayanan, said the firm plans to expand beyond Bitcoin and stablecoins into tokenized gold and other real-world assets in the future. "Our vision is to make institutional-grade asset management radically accessible to everyone," Lakshminarayanan said.



Multipli's model integrates both asset managers and decentralized finance participants in a programmable, composable framework that also enables lending and secondary market activity tied to tokenized yield strategies.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46095358/can-ledgers-mev-max-vault-boost-your-eth-rewards-what-crypto-stakers-need-to-know">Can Ledger&#8217;s MEV Max Vault Boost Your ETH Rewards? What Crypto Stakers Need To Know</a></li>
</ul>



Image: Shutterstock

Bitcoin Yields Of Up To 8% Are No Longer A Fantasy: Here's Who's Offering Them

Attention is shifting from cryptocurrencies to equities and publicly traded companies like Robinhood Markets (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), and Circle Internet Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRCL#NYSE">CRCL</a>), which have surged ahead in <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/06/46131195/cathie-woods-thursday-crypto-moves-ark-unloads-nearly-25-million-in-coinbase-block-stocks">performance over the past month</a>.



What Happened: In an X <a href="https://x.com/MilkRoadDaily/status/1938318830981570978">post</a> on June 27, Milk Road Daily pointed out this outperformance.



Circle has led the pack with a 162% return in the last 30 days, while Coinbase and Robinhood gained between 30% and 35% during the same period. 



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) logged negative returns ranging from -2% to -18% over the same timeframe.



Scarcity Meets Demand



There are relatively few crypto-linked public equities available, yet institutional and retail investors are hungry for exposure to crypto-adjacent plays, especially ones that have real revenue, growth potential and U.S. government support.



Token vs. Equity Market Dynamics



While equities benefit from limited supply and strong fundamentals, the token market is suffering the opposite fate as capital flows into tokens are muted compared to past cycles. 



At the same time, the number of tokens continues to explode, creating over-saturation and weakening price performance.



This mismatch of low demand and excessive supply is weighing heavily on altcoins, many of which are bleeding value despite brief speculative rallies.



Also Read: <a href="https://fr.benzinga.com/quote/cryptocurrency/25/06/46112072/coinbase-is-the-amazon-of-crypto-services-price-target-boosted-to-510-bernstein">Coinbase Is The &#8216;Amazon Of Crypto Services&#8217;, Price Target Boosted To $510: Bernstein</a>



Why It Matters: Crypto trader ResDegen <a href="https://x.com/resdegen/status/1937588394114142462">noted</a> that Robinhood, Circle, and Coinbase have clear business models, real revenue streams, and growing legitimacy with regulators. 



They offer a tangible value proposition that's drawing capital away from more speculative crypto assets.



As Kaizen <a href="https://x.com/KAIZ3NS/status/1936096315391312221">noted</a> on X, one of the defining features of this cycle is that only a handful of stocks and coins have shown real outperformance, namely crypto equities and a few large caps. 



TradFi currently has a stronger appetite for crypto-linked equities than for alt tokens.



Even Web3-native investors are beginning to shift their view. 



Trader David Arnal <a href="https://x.com/davidarngar/status/1936117933907787929">said</a> he considers Coinbase a safer long-term bet than even Bitcoin, citing teal revenue, government support and a market capitalization comparable to Solana. 



"COIN is the best stock to own for the next few months," he added.



Read Next:



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46097909/robinhood-ceo-highlights-retail-investor-interest-in-nvidia-tesla-despite-middle-east-tensions-barely-a-blip">Robinhood CEO Highlights Retail Investor Interest In Nvidia, Tesla Despite Middle East Tensions: &#8216;Barely A Blip&#8217;</a></li>
</ul>



Image: Shutterstock

Bitcoin, Ethereum, Solana Lag Behind Robinhood, Circle, Coinbase: Why Do Crypto Stocks Outperform Coins?

HIVE Digital Technologies Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIVE#NASDAQ">HIVE</a>) on Thursday reported its fiscal fourth-quarter results.



The announcement came amid an <a href="https://www.benzinga.com/earnings">exciting earnings season</a>. Here are some key analyst takeaways.



<h1 class="wp-block-heading">Rosenblatt Securities On HIVE Digital Technologies</h1>



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5841bdbcaae83900016b3c77/chris-brendler">Analyst Chris Brendler</a> maintained a Buy rating, while cutting the price target from $5.50 to $5.



HIVE Digital Technologies reported strong fiscal fourth-quarter results with revenues at $31.2 million, beating estimates of $27.4 million, driven by both its Bitcoin mining and HPC segments, Brendler said in a note. Gross margin expansion to 28% took non-GAAP gross profits to a higher-than-expected $8.8 million, he added.



Although operating expenses were a little higher than expected and drove down adjusted earnings, "We view these results as confirmation that continued execution on its growth plans should significantly improve profitability," the analyst wrote.



HIVE Digital Technologies has made "significant progress on its growth plans," with the expansion of its mining operations already raising its operational hashrate, which could reach 25 EH/s (exahashes per second) by late November, he added.



Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.



<h1 class="wp-block-heading">HC Wainwright On HIVE Digital Technologies</h1>



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/61d4371c30778300016abc55/mike-colonnese">Analyst Mike Colonnese</a> reiterated a Buy rating and price target of $6.00.



HIVE Digital Technologies' shares came under pressure after the fourth-quarter results due to the earnings miss, creating a &#8220;buying opportunity,&#8221; Colonnese said. Investors seem to be undervaluing the company's "rapidly growing" Bitcoin mining operations, he wrote.



HIVE Digital Technologies has reached mining of 11.5 EH/s, representing 83% growth from March's 6.3 EH/s, the analyst stated. Management expects production to reach 25 EH/s by the end of November, he added.



HIVE Price Action: Shares of HIVE Digital Technologies had declined by 0.56% to $1.78 at the time of publication on Friday.



Read More: <a href="https://www.benzinga.com/markets/equities/25/06/46111337/micron-ceo-cautions-ai-boom-may-not-be-fully-sustainable-flags-tariff-driven-demand-pull-in"> </a> • <a href="https://www.benzinga.com/markets/equities/25/06/46111337/micron-ceo-cautions-ai-boom-may-not-be-fully-sustainable-flags-tariff-driven-demand-pull-in">EXCLUSIVE: HIVE&#8217;s Bitcoin Ambitions Are Exploding — But Can The Grid Keep Up?</a>

Why Analysts Are Sweet On HIVE Digital Technologies Amid Mixed Q4 Signals

<a href="https://www.benzinga.com/government/regulations/25/02/43903335/financial-crime-weekly-1-4-billion-ethereum-stolen-in-largest-crypto-hack-ever-sec-creates-cyber-and-emerging-technologies-unit">Crypto hacks and exploits</a> have surged to record levels in the first half of 2025, with total losses exceeding $2.1 billion across at least 75 incidents, according to blockchain intelligence firm TRM Labs.



What Happened: The <a href="https://www.trmlabs.com/resources/blog/h1-2025-crypto-hacks-and-exploits-a-new-record-amid-evolving-threats">figure</a> marks the highest-ever total for the first half of a year, surpassing the previous record set in the first half of 2022 by around 10%.



The largest single event was the $1.5 billion hack of Dubai-based crypto exchange Bybit in February, which TRM Labs attributes to North Korea. 



The Bybit breach alone accounted for nearly 70% of total losses this year, significantly inflating the average hack size to nearly $30 million, double that of H1 2024.



TRM Labs reported that North Korean-linked groups were responsible for approximately $1.6 billion in stolen assets during H1 2025, solidifying the country&#8217;s position as the most active nation-state actor in the crypto space. 



The report suggested that these thefts are a strategic part of North Korea's broader efforts to finance its national objectives, including its nuclear weapons program.



Why It Matters: While North Korea continues to dominate, the report also highlighted other state-sponsored attacks.



One notable incident involved the Israel-linked group Gonjeshke Darande (Predatory Sparrow), which reportedly hacked Iranian crypto exchange Nobitex for over $90 million in June. 



The attackers transferred stolen funds to unspendable addresses, signaling a symbolic or political motivation rather than financial gain.



Also Read: <a href="https://www.benzinga.com/markets/25/06/46083555/whats-driving-goldman-sachs-and-citadel-into-crypto-the-135m-digital-asset-funding-round-explained">What&#8217;s Driving Goldman Sachs And Citadel Into Crypto? The $135M Digital Asset Funding Round Explained</a>



Infrastructure attacks, such as private key and seed phrase thefts, accounted for over 80% of stolen funds in the first half of 2025. 



These breaches, often enabled by social engineering or insider access, were significantly larger on average than other attack types. 



Protocol exploits, including flash loan and re-entrancy attacks, made up another 12% of total losses.



TRM Labs emphasized that the rising involvement of state actors marks a turning point in the crypto security landscape. 



The report urged the industry to strengthen basic cybersecurity practices, including multi-factor authentication, cold storage, and regular audits, while also improving defenses against sophisticated nation-state threats.



The report stressed that coordinated international efforts will be essential to counter this escalating threat. 



Stronger partnerships between law enforcement, financial intelligence units, and blockchain analytics firms will be necessary to track stolen assets and hold perpetrators accountable.



TRM Labs concluded that as digital assets become more intertwined with global financial systems and national security, crypto hacks may increasingly be used not just for financial gain but as instruments of geopolitical strategy.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46081761/bitcoin-dominance-tops-65-but-altcoin-season-is-close-trader-says">Bitcoin Dominance Tops 65% But &#8216;Altcoin Season&#8217; Is Close, Trader Says</a></li>
</ul>



Image: Shutterstock

North Korean Hackers Top Crypto Exploits List, But Another State May Surprise You

Strategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) executive chairman Michael Saylor has said Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) treasury companies can tap massive credit markets to accelerate Bitcoin adoption beyond <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46087988/anthony-pompliano-says-companies-following-michael-saylors-playbook-may-have-raised-large-s">traditional equity strategies</a>.



What Happened: At the BTC Prague <a href="https://www.youtube.com/watch?v=1kiD8eLq4uI">event</a> on Jue 25, Saylor and Blockstream CEO Adam Back unveiled a bold vision for the next phase of Bitcoin finance, going beyond equity-based capital raises into the realm of BTC-backed credit instruments.



Saylor argued that while equity offerings have helped fund BTC accumulation, the real breakthrough lies in creating scalable, credit-based financial products. 



"The long-term durable business is to issue BTC-backed credit instruments" he said.



He pointed out that with Bitcoin delivering average annual returns near 55%, there's a clear opportunity to issue fixed-income instruments, paying 6–10% yields, while capturing spreads via BTC appreciation. 



"As long as Bitcoin returns 20% or more, you can sell these instruments and swap into 20–40% returns," he noted.



Adam Back provided the technical foundation for this strategy, introducing the "months to cover" metric—tracking how quickly firms like Strategy can recoup capital invested in premium securities via BTC appreciation.



Back also teased tokenized equity markets on Bitcoin sidechains, enabling 24/7 BTC-denominated trading of treasury company shares without fiat FX conversions, potentially unlocking global participation.



Also Read: <a href="https://www.benzinga.com/crypto/25/06/46089173/michael-saylor-offers-btc-credit-model-as-bill-pulte-pushes-crypto-for-fannie-mae-freddie-mac-could-bitcoin-soon-count-toward-mortgage-qualification">Michael Saylor Offers BTC Credit Model As Bill Pulte Pushes Crypto For Fannie Mae, Freddie Mac: Could Bitcoin Soon Count Toward Mortgage Qualification?</a>



Why It Matters: Strategy has already laid the groundwork with two preferred stock products: Strike (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRK#NASDAQ">STRK</a>),which offers 8% dividend plus 40% upside exposure for growth-focussed investors, and Strife (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRF#NASDAQ">STRF</a>) that delivers 10% fixed yield with senior liquidation rights for retirees wanting stable income and low Bitcoin volatility.



Both are backed by Bitcoin collateral, not future company cash flows, an innovation Saylor argues gives them stronger backing than traditional corporate bonds.



"We have better collateral than investment-grade companies," he claimed, positioning Bitcoin as a disruptive force in credit markets.



Far from guarding the playbook, Saylor encouraged other companies to follow suit: "I invite you to copy it. The more Bitcoin-backed credit products exist, the more we legitimize this market." 



He envisions a future where dozens of companies' issue Bitcoin-backed credit, accelerating the financialization of BTC and transforming how global credit markets operate.



Read Next:



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46087988/anthony-pompliano-says-companies-following-michael-saylors-playbook-may-have-raised-large-sums-but-they-arent-able-to-buy-bitcoin-yet-explains-why-procap-is-differ">Anthony Pompliano Says Companies Following Michael Saylor&#8217;s Playbook May Have Raised &#8216;Large Sums&#8217; But They Aren&#8217;t Able To Buy Bitcoin Yet, Explains Why ProCap Is Different</a></li>
</ul>



Image: Shutterstock

Michael Saylor Says Bitcoin Treasury Companies Can Unlock Even More Growth: Here's How

Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) chances of breaking to new all-time highs in the near term appear constrained, according to the latest analysis by <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45886659/bitcoins-first-resistance-after-new-highs-is-115400-glassnode">blockchain intelligence firm Glassnode</a>.



What Happened: The <a href="https://insights.glassnode.com/the-week-onchain-week-25-2025/">report</a> highlights fading momentum, reduced on-chain activity, and declining investor profitability as key factors capping immediate upside.



The cryptocurrency briefly fell to $99,000 over the weekend amid rising geopolitical tensions but quickly recovered to $106,000 following reports of de-escalation. 



Despite this volatility, Bitcoin remains range-bound between $100,000 and $110,000, a pattern it has sustained since early May.



Glassnode's data suggests that Bitcoin's structural support remains firm between $93,000 and $100,000, a zone where significant accumulation occurred in the first quarter of 2025. 



&#8220;As long as the price holds above this range, the bull market structure remains intact,&#8221; the report noted. 



However, it also warned that a break below this level could trigger deeper sell-offs.



Recent profit-taking activity appears to have tapered off following the third major wave of this market cycle. 



Realized profits, which had already surpassed $650 billion in this cycle compared to $550 billion in the 2020–2022 period, are now cooling, indicating easing momentum.



On-chain transfer volume has also dropped by around 32% since late May, reflecting reduced transaction activity and diminished investor engagement. 



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46118688/crypto-collateral-for-stocks-ouinex-beta-tests-direct-cross-asset-trading">Crypto Collateral For Stocks? Ouinex Beta Tests Direct Cross-Asset Trading</a>



What&#8217;s Next: The recent climb toward the $111,000 mark was not accompanied by a surge in spot trading volume, which now stands at $7.7 billion, substantially lower than previous peaks seen earlier in the bull run.



The futures market remains active but with a less aggressive stance. 



&#8220;Despite high trading volume, open interest dropped 7% and liquidations have surged on both sides,&#8221; the report said. 



Funding rates and three-month futures basis are both trending lower, suggesting a more cautious environment with reduced appetite for leveraged long positions.



Glassnode stated that while Bitcoin's broader market structure remains supportive, current indicators point to a cooling phase where &#8220;the likelihood of a breakout to new all-time highs remains limited&#8221; unless there is a significant resurgence in demand and market conviction.



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<li><a style="font-weight: bold;" href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46116462/prediction-market-kalshi-raises-185m-surges-to-2b-valuation">Prediction Market Kalshi Raises $185M, Surges To $2B Valuation</a></li>
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Image: Shutterstock

Bitcoin To New Highs? It Might Take Longer Than You Think, Glassnode Report Says

Major U.S. corporations are increasingly adding Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to their balance sheets, raising concerns about potential market risks as the trend accelerates under <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46131815/trumps-crypto-advisor-david-sacks-says-july-will-be-a-big-month-says-president-supports-legislation-on-market-structure-and-stablecoins">President Donald Trump's administration</a>.



Companies like Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) are driving this surge, recently announcing plans to invest around $2.5 billion in Bitcoin through stock and debt sales.



Trump's pro-crypto stance has significantly reshaped the regulatory landscape, Politico <a href="https://www.politico.com/news/2025/06/27/trump-bitcoin-treasury-wall-street-warren-00423673">reported</a>.



His administration's rollback of enforcement actions and push for crypto-friendly legislation have emboldened corporate America to embrace digital assets more aggressively. 



According to Standard Chartered, more than 60 publicly traded companies globally now hold over 673,000 Bitcoin, valued at approximately $75 billion as of May's end. 



Trump Media, among the most notable participants, is allocating substantial capital to Bitcoin, with CEO Devin Nunes calling it "an apex instrument of financial freedom."



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46121954/retail-investors-can-now-trade-spacex-shares-heres-how">Retail Investors Can Now Trade SpaceX Shares: Here&#8217;s How</a>



Trump family members, including Eric Trump, have publicly championed Bitcoin adoption at recent industry events, reflecting a broader shift in sentiment where companies view Bitcoin as a viable treasury asset alongside traditional holdings like U.S. Treasuries.



Despite the enthusiasm, several lawmakers and experts are voicing caution. 



Senator Elizabeth Warren (D-Mass.) has warned that widespread corporate exposure to Bitcoin could amplify the economic fallout in the event of a future crypto crash, potentially leading to business failures and job losses across sectors.



Nic Carter, a partner at Castle Island Ventures, likened the current buildup of corporate Bitcoin holdings to &#8220;kindling&#8221; that could fuel a market collapse. 



Columbia University's Omid Malekan echoed the sentiment, pointing out the crypto industry's repeated cycles of overconfidence followed by painful corrections.



The practice, popularized by Michael Saylor's Strategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), has since been adopted by other firms like Japan's Metaplanet (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MTPLF#OTC">MTPLF</a>) and the Trump-backed American Bitcoin.



These companies raise capital at low cost through stock and debt markets and use the proceeds to buy Bitcoin, a strategy that has driven their stock prices higher.



However, critics like investor Jim Chanos argue that these gains are unsustainable. 



He believes the valuations of such firms could plummet if Bitcoin prices fall, warning that many of these companies are not adding meaningful value beyond buying Bitcoin itself.



Read Next: 



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Image: Shutterstock

Corporate Bitcoin Buying Spree: Booming Strategy Or Ticking Financial Time Bomb?

Cryptocurrency markets are slightly down on Friday morning as <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46117165/bitcoin-consolidating-at-107000-heres-what-will-drive-the-market-in-q3">BTC faces resistance near the $107,000</a> mark, with thin spot volumes and weak speculative drive raising questions about the rally's strength.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Bitcoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$107,151.6</td></tr><tr><td>Ethereum</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$2,454.9</td></tr><tr><td>Solana</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$142.2</td></tr><tr><td>XRP</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.09</td></tr><tr><td>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1611</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001123</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>IntoTheBlock data shows Bitcoin and Ethereum large transaction volume decreased 7.2% and edged 0.5% higher, respectively. Daily active addresses for BTC and ETH were up 2.5% and down 13.6%, respectively.</li>



<li>Coinglass data shows 82,822 traders were liquidated in the past 24 hours for $193.17 million.</li>



<li>SoSoValue data shows net inflows of $228.15 million into spot Bitcoin ETFs on Thursday, while Spot Ethereum ETFs saw net outflows of $26.5 million.</li>
</ul>



Trader Notes: Crypto trader Daan Crypto Trades <a href="https://x.com/DaanCrypto/status/1938546367833481226">noted</a> Bitcoin hovering around large liquidation clusters, which may act as short-term liquidity magnets. 



These clusters, based on historical open interest, suggest a potential grab scenario before BTC chooses direction. 



However, they are only rough guides and may not reflect current closed positions.



Glassnode highlighted that despite BTC peaking near $111,000, spot volumes are weak, with just $7.7 billion traded, far lower than past rally peaks. 



This signals low speculative appetite and possible fragility in the current uptrend.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Despite recently reaching $111k, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> spot volume remains low at $7.7B &#8211; well below prior peaks. The lack of volume follow-through weakens the rally&#39;s foundation and signals a lack of speculative urgency. <a href="https://t.co/vAX1mQWjGT">pic.twitter.com/vAX1mQWjGT</a>&mdash; glassnode (@glassnode) <a href="https://twitter.com/glassnode/status/1938537802221637874?ref_src=twsrc%5Etfw">June 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Ted Pillows <a href="https://x.com/TedPillows/status/1938537806160101447">noted</a> ETH is holding a key low-end range, and if support holds, a move back to the range high is plausible. 



Crypto Banter revealed ETH whales making the largest daily purchase since 2018, scooping nearly 1 million ETH.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Largest <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> Daily Buy since 2018 with whales buying nearly 1 MILLION Ethereum. Institutions are buying&#8230; &#x1f680; <a href="https://t.co/xWpHrrdbf5">pic.twitter.com/xWpHrrdbf5</a>&mdash; Crypto Banter (@crypto_banter) <a href="https://twitter.com/crypto_banter/status/1938544837730476420?ref_src=twsrc%5Etfw">June 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Analyst Javon Marks <a href="https://x.com/JavonTM1/status/1938265766790348976">believes</a> Dogecoin could follow its historical cycle behavior, potentially surging 120x from current levels if it mirrors past parabolic runs, targeting prices as high as $20.



Veteran financial trader Matthew Dixon <a href="https://x.com/mdtrade/status/1938500685772804543">said</a> Solana is displaying a bullish wave structure, with a likely Wave 2 correction nearing completion after bouncing from the $126.03 low. He sees a strong risk/reward setup forming as SOL preps for the next impulsive leg higher.



Read Next:



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46094408/how-bitcoin-is-maturing-to-a-global-liquidity-asset-report">How Bitcoin Is Maturing To A Global Liquidity Asset: Report</a></li>
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Image: Shutterstock

Bitcoin, Ethereum, XRP, Dogecoin Grind Lower Ahead Of Friday Inflation Data Release

Shares of&nbsp;Bakkt Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKKT#NYSE">BKKT</a>)&nbsp;rose in Thursday&#8217;s trading after the cryptocurrency custody company announced plans to raise as much as $1 billion, with proceeds potentially getting allocated to buy Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).



What Happened: The possible shelf offering might include sales of Bakkt&#8217;s&nbsp;Class A common stock, preferred&nbsp;stock, warrants, and debt securities, according to an SEC filing. The funds are expected to be used for working capital and general corporate purposes, with a portion potentially allocated to Bitcoin.



Bakkt announced an updated investment policy earlier this month to&nbsp;use the excess capital at its disposal to buy Bitcoin and&nbsp;other digital assets. However, the&nbsp;firm has not yet made&nbsp;any crypto purchases as yet, according to&nbsp;the SEC filing.



As of this writing, the BKKT stock lags in terms of Momentum and Value. Visit <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a> to discover the top five cryptocurrency stocks based on these criteria.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="563" height="413" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27035110/image-422.png" alt="" class="wp-image-964463" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27035110/image-422.png 563w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27035110/image-422-300x220.png 300w" sizes="(max-width: 563px) 100vw, 563px" /></figure>



Bakkt, which went public in October 2021 via a SPAC merger, was<a href="https://editorial.benzinga.com/wp-admin/admin.php?id=3974&amp;page=benzinga-neuro-displayarticle"> reportedly being considered for acquisition</a> by Trump Media &amp; Technology Group. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), which is owned by President Donald Trump, last November. The company&#8217;s shares witnessed a significant surge back then.



Price Action:&nbsp; Shares of Bakkt closed 3.09% higher at $13.33 during Thursday&#8217;s regular trading session, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Year-to-date, the stock has plunged 46% in value.



Read Next:&nbsp;



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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>



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This Under-The-Radar Crypto Stock Lifted 3% On $1 Billion Fundraising That Could Go Into Buying Bitcoin

Trevor Wells, growth marketing manager at cryptocurrency exchange Gemini, highlighted on Thursday various rewards the firm&#8217;s Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) credit card offers, which co-founder Cameron Winklevoss described as &#8220;insane.&#8221;



What Happened: Wells shared his calculations on X, breaking down the potential returns from a Bitcoin credit card offer. 



He stated that if one spends $3,000 within the first 90 days, they&#8217;ll get $200 in BTC back. If they sign up using a referral link (like from a friend), they get an extra $50, and they also earn 1% back on a minimum purchase of $30.



Adding it all up, it amounted to $280 back when a user spends $3,000, which is about 9.3% back in Bitcoin.



The numbers cheered Winklevoss, who stated, &#8220;insane in the membrane.&#8221; <a href="https://twitter.com/chev0r/status/1938384317341974901?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1938384762973847682%7Ctwgr%5Ef4a70ac8a813a51537b78fd7cbb9edce2377a42b%7Ctwcon%5Es3_&amp;ref_url=https%3A%2F%2Feditorial.benzinga.com%2Fwp-admin%2Fpost.php%3Fpost%3D964242action%3Dedit" target="_blank" rel="noreferrer noopener"></a>



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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">insane in the membrane <a href="https://t.co/R3xVmnbx05">https://t.co/R3xVmnbx05</a>&mdash; Cameron Winklevoss (@cameron) <a href="https://twitter.com/cameron/status/1938384762973847682?ref_src=twsrc%5Etfw">June 26, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/24/12/42514226/shiba-inu-burn-rate-surges-3609-as-dogecoin-whales-move-5-8-billion-doge-what-is-going-on" target="_blank" rel="noreferrer noopener">Shiba Inu Burn Rate Surges 3,609% As Dogecoin Whales Move 5.8 Billion DOGE: What Is Going On?</a>



Why It Matters:&nbsp;Gemini launched the Mastercard Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45512252/want-a-tesla-cybertruck-geminis-new-bitcoin-credit-card-could-be-your-ticket">powered card last month</a>, offering no annual fees and no fees on foreign purchases. That said, selling or converting crypto rewards would entail fees.



The card is not without its drawbacks. The crypto rewards cannot be used to pay off the credit card balance, <a href="https://www.cnbc.com/select/gemini-credit-card-review/">according </a>to a CNBC report.



Moreover, the card cannot be directly used to buy cryptocurrency on the Gemini exchange, <a href="https://www.bitdegree.org/crypto/gemini-credit-card-review#:~:text=Certain%20transactions%20are%20not%20eligible,on%20the%20Gemini%20exchange%20itself.">according </a>to a review done by the Web3 learning platform BitDegree.



The market has begun to heat up, with fellow cryptocurrency exchange Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) launching its own credit card earlier this month, which also <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45919626/coinbase-ceo-brian-armstrong-teases-crypto-credit-card-powered-by-american-express-bitcoin-cashbacks-offered-but-heres-the-catch">promised cashback rewards</a> in Bitcoin.



Earlier in March, Zebec Network, a payments protocol based on Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), <a href="https://www.benzinga.com/content/44528207/solana-based-zebec-network-launches-crypto-debit-card-with-mastercard">launched its crypto debit card</a>, Zebec Carbon, in collaboration with Mastercard.



Price Action:&nbsp; At the time of writing, Bitcoin was exchanging hands at $107,460.21, down 0.34% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.



As of this writing, the Coinbase stock ranked high on the Growth and Momentum metrics, but lagged in Value. To find similar details about the top cryptocurrency-related equities on Wall Street, head to <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Benzinga Edge Stock Rankings</a>.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="557" height="407" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27012957/image-420.png" alt="" class="wp-image-964304" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27012957/image-420.png 557w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/27012957/image-420-300x219.png 300w" sizes="(max-width: 557px) 100vw, 557px" /></a></figure>



 Photo: Wirestock Creators on Shutterstock.com



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