Upbit, Bithumb, and Coinone Place BONK on Delisting Watchlist: What It Means

South Korea‘s three largest cryptocurrency exchanges — Upbit, Bithumb, and Coinone — have simultaneously placed Bonk ($BONK), a Solana-based meme coin, on their delisting watchlists. The coordinated action signals heightened regulatory scrutiny and potential removal of the token from trading platforms in one of the world’s most active crypto markets.  Coordinated Watchlist Designation  On March 28, 2025, each exchange published separate notices announcing the designation. While the exact reasons vary slightly by platform, common factors include concerns over the project‘s transparency, token distribution, and compliance with South Korea’s Virtual Asset User Protection Act. The act requires exchanges to conduct regular reviews of listed assets, particularly regarding disclosure of project fundamentals and risk of market manipulation.  Upbit cited insufficient disclosure of key project information and a high concentration of token supply among a small number of wallets. Bithumb pointed to the projects failure to meet updated listing maintenance standards, while Coinone flagged abnormal trading patterns and a lack of responsive communication from the $BONK development team.  Implications for Traders and the Market  For holders of $BONK on these platforms, the watchlist status is a warning. Exchanges typically give a grace period — often 30 days — during which investors can withdraw or trade their holdings before

07-07

Whales Open $148 Million in Leveraged Longs as Bitcoin Reclaims $64K After Strategy's 3,588 BTC Sale

Three whale wallets opened nearly $149 million in leveraged bitcoin and ether longs as BTC climbed back above $64,000, onchain tracker Lookonchain reported, just a day after Strategy disclosed its $216 million sale.  Key TakeawaysLookonchain tracked 3 whales opening $148.7M in longs, including a 40x position on 1,000 BTC worth $63.8M.Bitcoin rebounded to $64,312 earlier today after falling to $61,246 on Strategys $216 million sale disclosure.Bernstein said BTCs 54% drawdown remains far milder than the 75%-90% declines of past cycle bottoms.  Big Money Leans Long Into the Fear  While much of the market was still digesting the first major bitcoin sale by Strategy Inc. (Nasdaq: MSTR), a handful of deep-pocketed traders were positioning for a bounce. Onchain analytics firm Lookonchain flagged the activity on Tuesday, writing:  “Despite Strategy selling BTC, whales still seem bullish on the market.”  “Despite Strategy selling BTC, whales still seem bullish on the market.”  The firm identified three wallets making outsized bets. A wallet tagged 0x15a4 opened a 40x leveraged long on 1,000 BTC worth $63.8 million. A second address, 0x7fba, went 10x long on 30,627 ether ( ETH) valued at $54.9 million, while a third, 0xe069, opened a 20x long on 470.4 BTC worth $30 million. Together, the three positions total

07-07انڈسٹری

Strategy‘s Bitcoin sale may give BTC a ’durable bottom, Grayscale says

Strategys $216 million Bitcoin sale on Monday should be seen as a positive development for the price of Bitcoin and as a move that renews confidence in STRC, according to analysts.  The sale of 3,588 BTC to fund preferred stock dividend payments and replenish cash has boosted Strategys dollar reserves to cover 17 months of dividend payments. “The rebound in STRC suggests investors are responding positively to this decision,” Grayscale Research said Monday.  Andri Fauzan Adziima, research lead at Bitrue Research Institute, told Cointelegraph that Strategys recent sale was a “smart, stabilizing move that actually strengthens the setup for Bitcoin.”  Zach Pandl, Grayscale‘s head of research, said Strategy’s actions should “restore market confidence” in its financing structure, and may help Bitcoin‘s price “find a more durable bottom,” as it relieves the pressure of further BTC sales from Saylor’s company.  Strategy‘s announcement that it sold Bitcoin caused the asset to drop 2.4% in a matter of hours. However, both Bitcoin and Strategy’s yield-bearing STRC product rebounded soon after, suggesting that investor concern was short-lived.  Restoring market confidence  There is nothing wrong with Strategys balance sheet, and the company clearly has sufficient financial resources to service its debt and dividend obligations, Pandl said.  “Nevertheless, shifting market conditions created uncertainty

07-07انڈسٹری

Strategy sells $216M Bitcoin, Bollinger bullish on BTC: Hodler's Digest, June 29-July 6, 2026

Strategy sells 3,588 Bitcoin for $216M to fund dividends  Michael Saylors Strategy sold 3,588 Bitcoin (BTC) to fund preferred stock dividend payments and replenish its cash reserves.  Strategy sold the Bitcoin for $216 million, reducing its total holdings to 843,775 Bitcoin, according to a Monday 8-K filing with the US Securities and Exchange Commission.  This included 1,363 Bitcoin sold at an average price of $59,256 between last Monday and Tuesday, and 2,225 Bitcoin sold at an average price of $60,773 between Wednesday and Sunday.  Strategy disclosed the sale of 32 Bitcoin in early June, as its first reported Bitcoin sale since the 2022 tax-loss transaction.  Before Strategy disclosed its latest Bitcoin sale, Bernstein said the company was unlikely to be forced to sell its holdings, citing its liquidity position and cash reserve coverage.  Bernsteins report said Strategy had 17 months of cash to cover dividend obligations and interest payments. It added that the company remained a net buyer of Bitcoin and served as a strong “balancing force” in a market where leading US Bitcoin miners are net sellers due to their pivot to AI.  Donald Trump says ‘nothing wrong’ with $1.4B crypto windfall while in office  US President Donald Trump has responded to criticism of his 2025 financial

07-07انڈسٹری

Coinbase Prediction Market AI Claims Norway Beat Brazil Before Match Even Started

Coinbase CEO Brian Armstrong has said the exchange is investigating an AI-generated prediction market alert after the platform mistakenly sent users a “breaking news” notification of a supposed Norway 3-2 win against Brazil in the ongoing FIFA World Cup before the match had even kicked off at the MetLife Stadium.  The flash news also showed that Manchester City forward Erling Haaland scored twice to send the Vikings to the quarterfinals.  What was interesting, though, was that Coinbases own prediction market page showed the match had been delayed due to poor weather conditions, but even more fascinating was that Norway did indeed end up beating Brazil when the game was finally played, even if with a different scoreline, and Haaland did find the back of the net two times.  Coinbase AI Bashed for Fake News, CEO Vows Probe  The discrepancy was first brought to light by Relay Digital managing partner Jay Drain Jr., who posted on X that the Coinbase AI was “hallucinating results for a World Cup game that hasn‘t even been played yet,” calling the notification it was sending to millions of the exchange’s users “factually incorrect” and terming it as “dangerous and irresponsible.”  Some time later, Coinbase chief Brian Armstrong responded to the

07-07

USDT Returns To Bitcoin: RGB And UTEXO Enable Private Lightning Settlements

Tether, the company behind USDT, is preparing to issue the stablecoin natively on Bitcoin through the RGB protocol version v0.11.1. Deployed by the UTEXO software lab, USDT is set to return to the chain where it first launched in 2014 via the Omni-Mastercoin Layer.  UTEXO, the company leading the commercial rollout, has positioned itself as the issuer and distributor of this Bitcoin-native USDT in partnership with Tether. “Finally, after eight years of development—if not more—we are the company that is launching USDT over Bitcoin with strong support from Tether,” said Viktor Ihnatiuk, UTEXO co-founder, in an exclusive interview with Bitcoin Magazine.  The RGB protocol combines its novel client-side validation with the Lightning network for instant, private settlements, while anchoring security to Bitcoins UTXO model. Users can expect to be able to handle USDT on native Bitcoin addresses as well as send and receive it over the Lightning network with compatible wallets.  The RGB protocol on Bitcoin also offers significant privacy features to USDT users as the asset benefits from Bitcoin‘s UTXO model, which standardizes fresh addresses for every transaction compared to the account-based address reused commonly in EVM blockchains like Tron, Ethereum or Solana. Address reuse is the first mistake of onchain privacy,

07-07انڈسٹری

42,197 ETH Acquired as Bitmine Builds $11.1B Crypto Treasury While Strategy Sells

Institutional crypto investors received two sharply different capital allocation signals Monday as Bitmine Immersion Technologies expanded its ethereum treasury while Strategy disclosed a rare bitcoin sale to fund preferred stock dividend payments.  Key TakeawaysStrategy sold 3,588 BTC on Jul. 5 to fund preferred stock dividends.Bitmine added 42,197 ETH, bringing holdings to 5.74 million ether.Tom Lee targets 5% of ethereum supply as institutional treasury models evolve.  Strategy Breaks With Its Bitcoin Accumulation Playbook  Earlier in the day, Strategy announced it sold 3,588 BTC for approximately $216 million, marking its largest bitcoin sale since resuming limited dispositions in recent years. According to co-founder Michael Saylor, the proceeds funded quarterly dividends tied to the companys STRF, STRE, STRK, and STRD preferred shares, along with the June monthly dividend for STRC.  Following the transaction, Strategy‘s bitcoin treasury declined to 843,775 BTC while the company reported approximately $2.55 billion in cash reserves. The sale represented a notable departure from the accumulation-first approach that has defined Strategy’s corporate identity for years.  Although Strategy remains the world‘s largest corporate bitcoin holder, the transaction demonstrated that preferred stock obligations now play a meaningful role in the company’s capital management decisions. A great deal of crypto supporters and detractors commented on the news. Bitcoin

07-06انڈسٹری

I am contemplating selling some of my bitcoin for gold, veteran trader Peter Brandt says

The logic is simple. BTC has underperformed gold, technology stocks and just about everything this year, which makes it look oversold and attractive relative to these assets.  But Brandts technical analysis suggests that the expected rotation may not happen and golds outperformance relative to BTC could continue.  The momentum shift  A closer look at the XAU/BTC chart helps understand Brandts bias for gold. XAU/BTC tracks the per-ounce price of gold in BTC terms.  For over a decade, XAU/BTC trended lower, illustrating the cryptocurrencys relentless outperformance and rally against the yellow metal. However, since at least 2019-2020, the pace of decline in the ratio has markedly slowed.  In technical analysis terms, this represents a loss of bearish momentum in the ratio. A flattening curve has replaced the steep, vertical drops that characterized the 2010s, a sign that the sellers of gold (relative to bitcoin) are finally exhausted.  And now, the tide seems to be turning in favor of the yellow metal.  XAU/BTC. (Peter Brandt, TradingView)  The “rounding” effect Brandt highlighted suggests the ratios fall has not just stopped; it is beginning to curl upward.  In other words, we could be entering a new macro cycle where gold begins to claw back the ground it lost to bitcoin over the last

07-06انڈسٹری

Banks have stopped asking if stablecoins belong in finance, now they're considering how

When Standard Chartered (STAN) said it would offer institutional clients direct access to minting and redeeming Circle Internets (CRCL) $USDC this week, it wasnt simply adding another digital asset service.  Rather, it was joining a growing list of global financial institutions building product offerings around stablecoins, the fiat-pegged tokens that were once retail investors refuge from crypto-market volatility and are increasingly becoming part of the plumbing of financial institutions worldwide. Chainalysis estimates stablecoin settlement volumes could reach a quadrillion dollars a year by 2030.  Standard Chartereds announcement came just days after BNY, the worlds largest custody bank, expanded its support for $USDC by allowing institutional clients to custody, mint and redeem the stablecoin using its infrastructure rather than building their own. Both Standard Chartered and BNY, which has $59 trillion in assets under management, are considered global systemically important banks by the Bank for International Settlements Basel Committee.  Their decisions reflect a pattern among some lenders toward using established stablecoin networks rather than creating their own. The moves also suggest the conversation inside banking has shifted. The question is no longer whether stablecoins belong in finance, but how banks fit into the networks forming around them.  “Banks arent asking whether theyll use stablecoins anymore.

07-05

Revolut to end support for Tethers USDT by August 31, customers say

Revolut is set to remove Tether ($USDT) from its crypto offering, according to screenshots of customer notifications shared by multiple crypto users on X.  The notice states that the UK-based fintech will complete the removal of the stablecoin on August 31, 2026, at 12:00 PM GMT. After that date, users will no longer be able to hold $USDT balances in their Revolut accounts.  Customers wishing to keep or liquidate their holdings are encouraged to act before the deadline by either selling their $USDT through Revolut or withdrawing it to an external crypto wallet.  Advertisement  According to the company, the decision follows a routine review of the assets offered on its platform and was made based on regulatory and risk considerations aimed at maintaining a secure and responsible trading experience.  As part of the phased rollout, Revolut said purchases of $USDT will be disabled from July 6, 2026, at 12:00 PM GMT, ahead of the tokens complete removal later in the summer.  Several major crypto platforms, such as Coinbase and Bitstamp, have delisted or begun phasing out $USDT for European users as they adapt to the EUs Markets in Crypto-Assets Regulation (MiCA) framework.  The move reflects efforts to comply with the blocs new rules governing stablecoins and crypto

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