Crypto World
Strategy’s Dividend Coverage Falls from 7 Years to 14 Months: CryptoQuant
After Strategy’s dividend coverage fell to 14 months from seven years, CryptoQuant thinks the company led by Michael Saylor should pause Bitcoin purchases and focus on replenishing its cash reserve that’s down 38% year-to-date.
Strategy’s dividend obligations have nearly quadrupled to $1.2 billion, as the company issued substantial new STRC preferred stock, which carries an 11.5% yield.
“They should pause Bitcoin purchases, rebuild cash reserves, and adopt a systematic framework for purchase timing,” wrote the market data analytics provider’s CEO Ki Young Ju in a Wednesday X post, adding that the biggest public Bitcoin treasury holder should also create a “disciplined selling framework” for the next bull market.
Strategy’s cash reserve fell 38% after the company repurchased $1.5 billion of its 2029 senior notes at a discount, Cointelegraph reported on May 26. Those coffers have since recovered to $1.4 billion after it sold $335.5 million in MSTR shares, which added $300 million to its US dollar reserve on Monday, although it is near a record-low of 14 months’ of funds available to pay dividends.
STRC preferred shares hit by BTC correction
Strategy’s income-generating preferred stock, STRC, fell to $82.50 last week, a record 17.5% below its $100 par value. CryptoQuant’s report attributed it to the Bitcoin bear market correction and the “simultaneous depletion” of its cash reserve.
STRC is one of Strategy’s main mechanisms to fund its Bitcoin accumulation. Trading below par limits Strategy’s ability to raise funds through STRC sales. It may also force the company to increase its nominal dividend rate to attract buyers and protect STRC’s price.
The company said it plans to “continue replenishing” its USD reserve to “support the credit quality of its Digital Credit securities,” according to a Monday X post.
Cointelegraph’s request for comment on Strategy’s plans to replenish the cash reserve and whether this could help STRC’s price recover was not immediately replied to by the company.
Strategy cash reserve and dividend coverage in months. Source: CryptoQuant
No obligation to sell Bitcoin to support STRC price
CryptoQuant said Strategy is not “obligated” to sell Bitcoin to maintain STRC’s price, as the company can also deploy other tools to defend the stock, such as raising the current 11.5% dividend yield or issuing MSTR stock to “signal its ability to continue paying dividends,” adding:
“However, the path back to $100 is not straightforward.[…] Rebuilding the cash reserve to ~$2.8 billion (24 months of coverage) is a necessary condition for STRC to recover.”
Strategy’s Bitcoin holdings only provide a “limited emergency cushion,” as the company is sitting on about $10.6 billion in unrealized losses, meaning that a forced BTC sale at current rates would “crystallize large losses and destroy shareholder value,” CryptoQuant said.
Related: Capital B shareholders approve up to $120B in financing capacity for Bitcoin strategy
Ahead of Wednesday’s Nasdaq market open, STRC shares were little changed after closing at $87.31 on Tuesday. That extended the preferred stock’s 12% decline in the past month, according to Yahoo Finance data.
STRC/USD, 1-month chart. Source: Yahoo Finance
CryptoQuant’s head of research, Julio Moreno, attributed STRC’s decline to a “deterioration in Strategy’s fundamentals,” including its falling dividend cash coverage caused by the depletion of its cash reserve and a fourfold increase in STRC’s annualized dividend obligations so far in 2026.
Magazine: Bitcoin, the ‘canary in the coal mine,’ XRP transaction demand falls 91.5%: Market Moves
Bitcoin slid to fresh 21-month lows Thursday at the Wall Street open, falling back toward the $58,000 area as a hotter-than-expected US inflation print rattled risk assets. The move underscored how tightly BTC trading has been tied to broader market volatility when macro data hits.
According to TradingView data cited in the report, BTC/USD on Bitstamp dipped to $58,035—an area last seen in September 2024. The pressure intensified shortly after the release of the May Personal Consumption Expenditures (PCE) report, with equities swinging sharply at the open.
Key takeaways
- BTC returned to levels last traded in September 2024, dropping to about $58,035 on Bitstamp during Thursday’s Wall Street open.
- US May PCE inflation came in at 4.1%, a three-year high for the year-over-year measure, contributing to fast, broad-market sell-offs.
- CoinGlass data cited in the coverage shows more than $600 million in liquidations across crypto within a single hour as BTC fell.
- Traders flagged potential “squeeze” dynamics around key psychological levels below $60,000.
- Technical commentary highlighted weakening $60,000 support and potential new resistance closer to $65,000.
Inflation hits, equities wobble—and BTC follows
The catalyst was the May PCE inflation release. The Bureau of Economic Analysis (BEA) reported that the PCE price index rose 4.1% year over year in May—recording a three-year high. In the monthly comparison, BEA said the PCE price index increased 0.4%, while excluding food and energy it rose 0.3%.
“From the same month one year ago, the PCE price index for May increased 4.1 percent. Excluding food and energy, the PCE price index increased 3.4 percent from one year ago.”
Markets reacted quickly. The report notes that the Nasdaq 100 dropped about 2% within roughly 30 minutes at the open, while the Nasdaq Composite was down modestly around the time of writing. The S&P 500, by contrast, managed a small gain—highlighting dispersion between large-growth and broader benchmarks as investors repriced near-term rate expectations.
Bitcoin’s decline mirrored that “risk-off” impulse. In the minutes after the open, BTC pushed lower in a move that traders often interpret as forced positioning rather than purely discretionary selling—especially given what followed in the derivatives market.
Liquidations top $600 million in an hour
As BTC slid through key levels, derivatives leverage appears to have accelerated the down move. CoinGlass, as referenced in the coverage, logged cross-crypto liquidations totaling more than $600 million over a single hour.
That kind of liquidation burst typically happens when price moves trigger margin calls for leveraged long positions, forcing liquidations that mechanically add to selling pressure. It also tends to increase volatility, making support levels harder to defend in the short term.
The report also included commentary from market participants who suggested the drop may have been intensified by order-book dynamics. A pseudonymous trader identified as “Killa” told X followers that BTC was in a “manipulation phase,” arguing that trading below $60,000 corresponded with a notable “swing low” region and that the orderbook was “stacked below” current pricing.
Bear-market analogies and the $60,000 test
Beyond the immediate macro-driven move, the article frames the latest dip within a broader bear-market pattern. Crypto analyst and trader Niels Klaver, cofounder of STABL Agency, characterized BTC/USD as moving toward what he called the “final leg down” of the current bear market. Klaver referenced a short-term target of $55,000, aligning with earlier popular bearish scenarios circulating among traders.
Other technical commentary focused on whether the market can stabilize after breaking below a key psychological level. The report cites Rekt Capital saying $60,000 support is “clearly weakening,” implying that any attempted rebound may face selling pressure from participants who sell after a breakdown or re-test.
Rekt Capital also pointed to the idea that the current market is behaving similarly to 2022, noting that a widely watched trend indicator—the 50-month exponential moving average (EMA)—is expected to become a resistance area. While that does not guarantee a rejection, it gives investors a concrete “where would resistance show up?” reference point if BTC tries to reclaim higher levels.
Another development highlighted in the report: Rekt Capital suggested that once June’s monthly close arrives, traders will be better able to judge whether July could produce a relief rally “from which price” the market can potentially pivot. This matters because monthly closes often influence how traders assess trend structure, risk management, and the probability of a reversal versus continued breakdown.
What to watch next: support, resistance, and follow-through
For investors and traders, the immediate question is whether BTC can regain and hold above the broken support zone around $60,000, or whether it turns into resistance as liquidation effects dissipate. The report’s cited technical views also imply that any rebound attempt could encounter selling pressure closer to the $65,000 area, with the broader bear-market analogy keeping downside risk in focus.
Going forward, the next macro releases and—just as importantly—whether the market sees sustained follow-through on either side of $60,000 and toward the $55,000 target will likely determine if this is a continuation leg or a transition into consolidation.
Crypto World
Polish Crypto Raid: FBI-Backed Arrests Hit Alleged SIM-Swap Gang Behind Millions in Theft
Poland’s Central Bureau for Combating Cybercrime (CBZC) arrested four members of an alleged crypto crime gang. The group drained cryptocurrency through SIM swap attacks, the FBI and Homeland Security Investigations revealed.
The suspects face charges that include running an organized criminal group, theft by hacking computer systems, and money laundering. All four remain in pre-trial detention and could face up to 25 years in prison.
How the Crypto Crime Gang Ran its SIM Swap Scheme
Investigators say the group broke into the IT systems of firms that work with telecom operators. Social engineering, rather than brute-force hacking, gave the attackers their initial foothold. They also obtained access to employee email accounts using specialized software.
That access let them run SIM swap attacks, which clone or hijack a victim’s phone number. With control over SMS and email, the group reset passwords, bypassed two-factor protections, and seized accounts on cryptocurrency exchanges.
Once inside, they drained the digital assets held in those accounts. The method exploits a known weakness, since many platforms still lean on phone-based recovery despite repeated telecom security failures.
The FBI counted more than $68 million in U.S. SIM-swap losses in 2021, taken from bank and virtual currency accounts.
Laundering and Cross-Border Cooperation
Police say the stolen funds moved quickly through a spread-out financial network. Prosecutors add that the suspects treated the thefts as a steady source of income. The group used personal bank accounts in Poland and abroad, payment platforms, and multi-currency crypto wallets.
Officials estimate the laundered total exceeds tens of millions of Polish zlotys, or several million dollars. The scale places it alongside other European crypto laundering networks disrupted this year.
U.S. prosecutors have pursued similar crews. Federal indictments describe the same playbook against cryptocurrency exchanges. One of the largest involved roughly $400 million stolen from the failed exchange FTX in 2022.
The Regional Prosecutor’s Office in Krakow supervises the case. The role of the FBI and HSI points to victims or infrastructure outside Poland. Such international crypto crime cases increasingly depend on cooperation across borders, echoing earlier FBI SIM swap arrests.
The CBZC, formed in 2022, has not named any suspect or released identifying photos, citing the active investigation. It did publish video of the operation on its official channels.
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Unverified social media speculation has linked one detainee to a known online alias, “Merry.”
Police have not confirmed the claim. Officials say the case is still developing, and more arrests could follow as the inquiry continues.
The post Polish Crypto Raid: FBI-Backed Arrests Hit Alleged SIM-Swap Gang Behind Millions in Theft appeared first on BeInCrypto.
Remember BlackBerry? Yes, that BlackBerry: The phone with a physical keyboard that everyone used and suddenly became obsolete after Apple introduced the iPhone.
Well, it’s making a comeback.
The new BlackBerry isn’t a mobile device, but it’s a “mission-critical software layer in the physical AI stack,” and the stock is surging.
BlackBerry hasn’t made a consumer mobile device in years. Instead, it has quietly transformed into a high-tech powerhouse focused entirely on the world of “Physical AI” and robotics.
The secret weapon? The rock-solid software framework called QNX that acts as the “uncrashable” nervous system for autonomous machines. That means BlackBerry’s software is being used by massive chipmakers such as Nvidia and AMD to build smart cars and warehouse robots. The software makes sure those machines move safely with zero lag.
“As intelligent machines become increasingly autonomous and operate around people, the requirements for safety, security, reliability and real-time determinism become even more important,” CEO John Giamatteo said during an earnings call. “Unlike probabilistic AI systems, QNX technology is deterministic and safety certified, which is exactly why it is so hard to replicate and why customers trust it for systems where failure is not an option.”
The number of businesses operating with digital assets and crypto payments just keeps growing. These days, using traditional accounting software with crypto integrations is considered one of the easiest ways to track and reconcile transactions, whether it’s for corporate tax compliance or regular business invoicing.
It’s smart to set up a dedicated accounting system early on, mainly to keep your financial books audit-ready (and avoid a massive spreadsheet headache, of course). In this article, we’ll break down the best accounting software for crypto integrations of June 2026.
Since balancing digital currency requires extreme precision and seamless tracking across multiple blockchains, automated subledger syncing is the go-to solution. We’ve put together a list of top accounting platforms, taking into account their crypto subledger compatibility, ease of use, and multi-currency reporting.
Best crypto accounting software for June 2026
Xero
Traditional operations and decentralized finance teams use Xero as a central anchor for their corporate ledger. The software connects with premier crypto subledgers via a specialized ecosystem, turning chaotic blockchain data into compliant general ledger entries.
Pros & Cons
Extensive selection of dedicated Web3 subledger integrations
Seamless dual-entry journal creation via connected apps
Intuitive dashboard designed for small-to-midsize business scaling
Base software caps native asset decimal tracking to 4 places
Live blockchain data requires a third-party subledger connector
Review Integrations: Direct API links with Breezing, Cryptio, Ledgible, Koinly, and Cryptoworth.
Key features: Dynamic chart of accounts mapping, automated draft journal syncing, and reliable traditional bank feeds.
Price: Standard packages range between $5 and $15 per month, excluding separate subledger subscriptions.
Best for: Fast-growing businesses and accounting firms looking for a clean, highly extensible crypto-to-fiat accounting framework.
QuickBooks Online
Many small businesses rely on QuickBooks Online to manage day-to-day corporate operations alongside standard fiat accounting rules. Dedicated development pipelines from top cryptocurrency tracking tools make it simple to bridge on-chain histories into traditional balance sheets.
Pros & Cons
-
Massive accountant network familiar with the platform
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Detailed inventory and specialized tax tracking tools
-
Robust multi-user permission toggles for finance teams
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Internal tracking limits native handling of fractional token decimals
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High-frequency trading data can clutter standard ledger reports
Review
Integrations: Automated data pipelines via Bitwave, Cryptoworth, Ledgible, and Koinly.
Key features: Real-time data syncing, customizable accounting modules, and extensive payroll functionality. Price: Monthly subscriptions span from roughly $38 to $115.
Best for: Established small businesses utilizing mainstream digital asset reporting tools.
NetSuite
Global corporations and large-scale decentralized autonomous organizations use NetSuite to manage multi-entity financial structures. Enterprise-grade tools within the platform scale to process millions of transactions while maintaining strict internal control frameworks.
Pros & Cons
Comprehensive multi-entity global consolidation
Immutable audit trails built for regulatory inspection
Handles massive on-chain data volumes without system lag
Deployment requires substantial initial development capital
Overengineered for small business models or early startups
Review Integrations: Institutional subledgers including Cryptio, Bitwave, and Tres Finance.
Key features: Full enterprise resource planning (ERP) suites, advanced data warehousing, and automated global taxation rules.
Price: Custom institutional contract pricing.
Best for: Enterprise-level Web3 conglomerates and high-volume asset management funds.
Sage Intacct
Finance teams at mid-sized firms deploy Sage Intacct to gain multi-dimensional insights into complex cash flows. The accounting engine processes digital currency balances through elite middleware, ensuring regulatory frameworks align with corporate accounting schedules.
Pros & Cons
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Powerful multi-dimensional asset tracking architecture
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Highly favored by specialized corporate CPA firms
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Automated continuous consolidation for multiple subsidiaries
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Integration setup often requires precision middleware configuration
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System onboarding demands a steep learning curve
Review
Integrations: Enterprise-focused connections via Bitwave and Cryptio.
Key features: Multi-entity continuous ledger updates, advanced budgeting, and customizable compliance workflows. Price: Available via custom corporate quotes.
Best for: Mid-market digital asset companies navigating strict regulatory standards.
Platform
Price
Supported ecosystems
Key tracking features
Best for
Xero
~$5–$15/mo
Extensible via Xero App Store (Breezing, Cryptio, etc.)
Dynamic chart of accounts mapping, automated draft journal syncing, double-sided ledger entries
Fast-growing businesses and accounting firms looking for a clean, highly extensible crypto-to-fiat accounting framework
QuickBooks Online
~$38–$115/mo
Extensible via mainstream tools (Bitwave, Ledgible, etc.)
Real-time automated ledger updates, customizable tracking modules, robust payroll functions
Established small businesses utilizing mainstream digital asset reporting tools
NetSuite
Custom enterprise pricing
Institutional subledgers (Cryptio, Tres Finance, Bitwave)
Full ERP resource suites, immutable audit trail generation, advanced automated consolidation
Enterprise-level Web3 conglomerates and high-volume asset management funds
Sage Intacct
Custom quote pricing
Middleware subledgers (Bitwave, Cryptio)
Multi-dimensional financial tracking, continuous global closing, custom compliance reports
Mid-market digital asset companies navigating strict regulatory standards
How we picked the most reliable crypto accounting software
Finding the top accounting systems for digital assets required evaluating dozens of corporate finance platforms. Our team gathered operational data from public user reviews, software documentation, and feedback from certified public accountants to shortlist five high-performing systems.
Evaluation metrics prioritized platform scalability, integration stability with Web3 subledgers, and overall multi-currency report accuracy. Direct practitioner reviews provided an objective view of how each platform handles corporate bookkeeping in practice, helping isolate specific operational limitations and workflow strengths.
Why can’t I track crypto directly inside traditional accounting software?
Standard fiat ledger designs restrict decimal tracking to four places, creating compounding accounting errors when working with fractional tokens like Bitcoin or Ethereum. Blockchain architectures also operate outside traditional banking networks, meaning direct wallet feeds require specialized subledger applications to format the transactional data.
How do subledgers connect to systems like Xero or QuickBooks?
Subledger platforms link directly to blockchain addresses and exchanges to pull raw transaction histories, compute cost bases, and assign fair market value in fiat. Connected applications then synchronize these calculations with main systems like Xero, pushing normalized ledger records into the standard chart of accounts.
Is Xero suitable for high-volume enterprise DAOs?
Smaller to mid-sized entities thrive using Xero paired with a dedicated subledger, but massive decentralized entities with millions of monthly transactions typically choose customizable enterprise platforms like NetSuite. Selecting a system depends entirely on your compliance needs, internal audit structures, and overall transactional velocity.
Abracadabra.money declared emergency measures Wednesday after its dollar-pegged stablecoin Magic Internet Money (MIM) fell roughly 50% below its $1 target. MIM was trading around $0.48 Thursday, its worst sustained depeg on record. "We're acutely aware of the $MIM depeg and are taking emergency… Read the full story at The Defiant
According to analyst Shanaka Anslem Perera, the story everyone has been telling about Bitcoin (BTC) this year, that big money fled to gold and left crypto behind, is wrong.
He laid out the actual flow of data in a post on X, showing how the picture is considerably different from what the rotation narrative suggests.
ETF Flows Tell a Different Story
The analyst argued that, based on spot Bitcoin ETF data, investors have not abandoned the flagship cryptocurrency. Since their launch in January 2024, they have attracted more than $53 billion in net inflows, something that took gold ETFs some five years to achieve.
Things changed during the recent market correction, when about $4.4 billion flowed out in 13 consecutive trading sessions. But Perera pointed out that the money left Bitcoin to chase highs in AI and semiconductors, describing investors who made the shift as tourists who react to every changing narrative.
Per his analysis, BTC has found itself caught between two competing trades.
“When the market wanted offense, the money left Bitcoin to chase AI and chip stocks at fresh highs,” he wrote. “When the market wanted defense, the money left Bitcoin for Treasuries and cash.”
He also claimed that the gold side of the story had a similar hole in it. Indeed, big gold ETFs bled this year, but, according to Perera, the money didn’t go to BTC as some headlines had suggested, but it went into cheaper gold products, essentially meaning it was a “fee swap” and not a defection to Bitcoin.
There was a similar misread inside crypto, as XRP and Solana funds pulled money while BTC bled. Many market watchers thought it was a changing of the guard, but Perera pointed out that since those funds sit on bases 40 to 50 times smaller than Bitcoin’s, relatively modest inflows may look dramatic on a chart while having very little meaning at scale.
Debate Over Safe Haven Continues
What makes Perera’s analysis worthwhile is how it makes a distinction between what he called Bitcoin’s two shareholder bases: short-term ETF investors that react quickly and emotionally to economic data and market sentiment, and long-term holders who continue accumulating during periods of weakness.
According to the analyst, when most headlines about ETFs focused on outflows, the long-term holders added about 125,000 BTC to their holdings, basically buying the coins that the ETF crowd was panic-selling on every CPI print.
The debate around Bitcoin’s role has become quite loud this year, with billionaire Ray Dalio saying in March that gold and BTC cannot be compared, as institutions still prefer the metal as a store of value.
Other research also cast doubt on the rotation narrative, with analyst Charlie Bilello finding that both gold and Bitcoin were trading below their long-term trend levels at the same time, suggesting parallel weakness rather than capital moving directly from one to the other.
The post Bitcoin Didn’t Lose to Gold, the Rotation Story Is Wrong: Analyst appeared first on CryptoPotato.
So far, 2026 has been an interesting year for crypto VC funding. After dropping significantly in Q1, funding has recovered strongly. In May alone, crypto projects raised over $3.52 billion. Unsurprisingly, the majority of these fundings are being directed to AI-based ventures.
Canopy Network is one such project that successfully attracted investors with its AI pivot. The project has raised $8.5 million in seed funding for its AI-native blockchain development.
The Panama City-based project is developing a framework built to help founders, developers, and coding assistants create onchain applications with far less engineering overhead. The funds will support the mainnet launch, engineering hires, and continued work on developer experience and AI-native tooling.
The company also acquired Tanssi technology, a decentralized protocol for deploying customized apps on blockchains in minutes. Arrington Capital, Fenbushi Capital, Borderless Capital, and SNZ Capital joined Canopy as key stakeholders through the acquisition, bringing more investor backing around the project’s next phase.
AI-Native Development Brings Builders Closer to Launch
Canopy is designed to help people build blockchain apps with less technical work.
A founder could describe an app idea, such as a loyalty program, rewards platform, or onchain marketplace, then use Canopy to turn it into working code with help from AI coding tools. The code remains readable, so developers can review, edit, and improve it as the product grows.
Because the output is code, teams can extend or upgrade their applications over time. The same code can be read by human developers, giving founders a faster path from idea to deployed application.
Liposky said Canopy is “opening blockchain development to an entirely new audience of builders.”
Keli Callaghan, Partner at Arrington Capital, said Canopy’s combination of templates, security, interoperability, and a complete development framework gives builders a faster route from idea to launch.
“Builders can move from idea to launch in a fraction of the time,” Callaghan said.
Tanssi Technology
The Tanssi acquisition gives Canopy some of the blockchain infrastructure it needs before mainnet.
In simple terms, Tanssi was built to help teams launch their own app-specific blockchains without starting from zero. It gave builders a dashboard to set up a chain, manage tokens, fund block production, and bring the network online from one place.
This was important for Canopy as its pitch depends on speed. AI tools can help generate an app, but the app still needs blockchain infrastructure to run. Tanssi gives Canopy parts of that back-end system, including tools for appchain deployment, block production, and links to Ethereum.
The deal, announced on June 3, 2026, includes Tanssi’s core technology. That covers its appchain control panel, its sequencer system for producing blocks, and its Snowbridge-based Ethereum bridge for cross-chain communication.
Canopy plans to fold this technology into its own development framework. The standalone Tanssi network was expected to wind down over 30 days after the announcement.
Testnet Activity
Canopy’s public testnet has produced strong early activity. Builders launched nearly 27,000 projects during the first 12 days, and total launches have since surpassed 331,000.
The numbers point to demand from founders and developers seeking faster ways to create onchain products through AI-assisted tools.
Canopy’s near-term focus is mainnet, while its long-term roadmap centers on an integrated environment where non-technical founders can create, deploy, and upgrade applications from one place.
Canopy is currently live on public testnet.
The post Canopy Raises $8.5M to Bring AI-Native Blockchain Apps Closer to Mainnet appeared first on BeInCrypto.
Blockchain analytics firm TRM Labs traced $3.84 billion in flows from wallets linked to more than 60 sanctioned Iranian entities through CoinEx since 2019, identifying the exchange as the primary external conduit for Iran-linked capital moving into global crypto markets.
Of that total, $2.7 billion flowed specifically between CoinEx and Nobitex, Iran’s largest domestic exchange, at an average rate of approximately $1 million per day since 2018. By any documented measure, this is the largest single-exchange crypto sanctions-evasion pipeline tied to Iran yet identified.
The TRM Labs report landed three weeks after the US Treasury sanctioned four Iranian crypto exchanges as part of its Economic Fury campaign, with Treasury Secretary Scott Bessent separately confirming the seizure of $1 billion in crypto from Iranian exchanges and wallets since the start of the war.
CoinEx is not among the sanctioned entities. That gap, between what the blockchain data shows and what enforcement has acted on, is the structural tension this report forces into the open. The Iran-CoinEx controversy is now squarely on the US Treasury’s radar.
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CoinEx’s 8% Illicit Rate Is 27x the Industry Benchmark
The compliance gap TRM Labs documents is not marginal. CoinEx’s share of illicit transaction volume sits at nearly 8%, against a 0.3% threshold observed at compliant exchanges, a ratio of roughly 27 to one.
That number is not cosmetic; it is the quantitative basis for TRM’s conclusion that the CoinEx-Nobitex relationship reflects a “coordinated arrangement rather than organic adoption.”
The specifics reinforce that reading. By 2024, CoinEx was Nobitex’s largest external counterpart by volume, nearly nine times larger than the next-biggest exchange, a concentration TRM called “inconsistent with independent market behaviour.”
Major Iranian domestic exchanges route between 5% and 10% of their trading volume through CoinEx, a uniformity across platforms that would be statistically improbable if each exchange were making independent routing decisions.
CoinEx-affiliated mining pool ViaBTC adds another layer. TRM Labs traced $154 million in ViaBTC exposure to Nobitex through mining payouts.
More pointedly, ViaBTC supplied emergency liquidity to Nobitex following the Predatory Sparrow hack in June 2025, a $90 million breach that left Nobitex operationally stressed. An affiliated mining pool stepping in as a liquidity backstop for a sanctioned exchange is not a pattern that emerges from coincidence.
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Nobitex Was the On-Ramp, CoinEx Was the Exit
The architecture of the pipeline is straightforward. Sanctioned Iranian entities, including IRGC-linked wallets and entities tied to Iran’s domestic financial system, moved funds into Nobitex, which handled approximately 50% of Iran’s crypto trading volume, per a June 2 Chainalysis report.
Nobitex then routed capital outward through CoinEx, which provided access to global liquidity and the ability to convert into dollar-equivalent stablecoins beyond the reach of Iranian sanctions enforcement.
This flow pattern has been running since at least 2018 on the CoinEx-Nobitex corridor, and since 2019 for the broader universe of sanctioned entities TRM Labs tracked. Nobitex’s own political exposure sharpened the stakes: in May 2026, the exchange was reportedly linked to members of a powerful family with ties to Supreme Leader Ali Khamenei, suggesting the pipeline served interests at the apex of the Iranian state, not just retail traders seeking dollar access.
The displacement of other exchanges from Nobitex’s external routing is also analytically significant. CoinEx overtook Binance as Nobitex’s largest foreign counterparty by 2024, after Binance faced US enforcement pressure. That transition illustrates precisely the rerouting dynamic critics of venue-specific enforcement consistently flag: pressure on one exchange does not eliminate the demand, it reassigns it.
CoinEx Denies Government Ties. The On-Chain Data Is Not a Contract.
CoinEx issued a denial on X following the TRM Labs report, stating it has no commercial relationship with the Iranian government or domestic Iranian exchanges and has never provided funding channels to sanctioned parties.
The exchange also disputed TRM Labs’ interpretive framework directly, arguing that “onchain fund flows do not demonstrate a platform’s knowledge of or participation in illicit activity.”
The denial addresses contractual relationships; the TRM Labs report documents transaction flows. Those are not the same evidentiary category, and the distinction matters.
OFAC sanctions exposure does not require proof of a formal commercial agreement – it requires demonstrated facilitation of transactions involving sanctioned parties.
Whether CoinEx knew the identities behind the wallets routing $3.84 billion through its platform is a compliance question. That the flows existed at 27 times the illicit-volume rate of compliant exchanges is the data point that precedes that question.
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The post CoinEx Named as Iran Largest Crypto Sanctions Exit Route by TRM Labs appeared first on Cryptonews.
Crypto World
Strategy (MSTR) has a 10-month cash runway for dividends, but retail investors are losing faith
STRC trading well below its $100 target level simply makes Strategy’s bitcoin acquisition and funding engine less efficient, because the company can no longer issue the preferred shares on attractive terms, as Benchmark analyst Mark Palmer previously noted. That is very different from suggesting the model is failing.
The bigger issue is one of confidence rather than solvency. STRC was marketed as a low volatility income product designed to trade near $100, and its sharp decline has undermined investor trust.
The real damage is to credibility, Two Prime CEO Alexander Blume argues, not the company’s ability to keep paying dividends. And therefore it may be trust that keeps STRC from returning to its $100 par value.
Michael Saylor’s repeated pivots and deviations from his stated plans have shattered investor trust, leading to a dramatic collapse in Strategy’s (MSTR) ecosystem, Blume told CoinDesk on Thursday.
“Beyond any spreadsheet or logic, markets are about trust, especially when your investor base is retail-centric,” Blume, who heads the bitcoin-focused investment SEC-registered investment adviser, said in a Telegram message.
“Saylor’s repeated pivots and deviations from his stated plans, alongside poor performance of STRC and MSTR, have broken that trust.”
Blume has been sounding the alarm for months. In March, as Strategy’s perpetual preferred stock was still riding early momentum, Blume warned:”There’s no free lunch, a product that pays more than 6% over Treasuries must come with additional risk.”
A global movement arrives at the home of the Montreux Jazz Festival
AI.LOVE.JAZZ, the global AI Jazz music contest and live event, is bringing the world’s first AI jazz festival to Montreux, Switzerland. Taking place on July 9–10, 2026, alongside the world-famous Montreux Jazz Festival, AI.LOVE.JAZZ combines a two-month global online competition with a live international event dedicated to showcasing the best AI-assisted music and fostering dialogue among artists, AI platforms, technology companies, regulators, and the broader music industry.
Why Now — From Grey To White Zone
AI music is already everywhere. It’s time to give it a proper stage — stepping out of the grey and inviting the industry to collaborate, creating a safe and productive space for the creativity of millions.
“The period of the Wild West in AI music is gradually coming to an end. We are moving from experimentation into what I call the white zone — a space where creativity, innovation, fair competition, and compliance can coexist. AI is not replacing artists. It is another tool in the hands of talent — giving an opportunity to millions to become creative and experiment. Behind every great AI-generated track stands a human being with taste, vision, emotion, and something meaningful to say. Our mission is to help the world see AI music through that lens.”
— Alex Chapsky, Co-Founder of AI.LOVE.JAZZ
AI.LOVE.JAZZ exists to give that movement a real cultural stage, and to open honest dialogue between artists, AI platforms, technology companies, regulators, and the broader music industry about what comes next. The contest of AI-Jazz included jazz, blues, funk, soul and melodic rock tracks, created with the assistance of generative AI tools.
For the first time, AI-assisted tracks will be performed live by a jazz band — on Day 1, when the Semi-Finals take place.
AI Jazz In The Heart Of Montreux — Casino Barrière, Riviera Café
The event takes place across two evenings at Riviera Café of Casino Barrière Montreux — a venue deeply embedded in music history, forever associated with Queen, Deep Purple, and many other legendary artists — and one of the world’s most iconic music stages. Both days of AI.LOVE.JAZZ fall within the Montreux Jazz Festival, one of the world’s most iconic music destinations.
• July 9 — Semi-Finals: VIP networking apéro & talks. Doors at 17:00, show starts at 20:00.
• July 10 — Grand Finale Gala: awards ceremony, the year’s best AI jazz tracks performed live, and a closing set from Latin jazz act PATAX with percussionist Jorge Pérez. Doors at 17:00, show starts at 20:00.
An International Jury
AI.LOVE.JAZZ 2026 features an international jury representing music production, creative technology, and AI:
• Oscar Gómez (Spain): Five-time Grammy Award winner, producer, and songwriter who has worked with artists including Celia Cruz, Ricky Martin, Enrique Iglesias, Miguel Bosé, Rocío Jurado, and Roberto Carlos.
• MoneOnDaBeat (USA): Producer, filmmaker, and entrepreneur known for projects at the intersection of music, culture, and technology.
• Jieun Park (South Korea): CEO of Pulse9 and creator of the Deep Real project, focused on next-generation generative AI experiences.
Sponsors and Partners
AI.LOVE.JAZZ is backed by Crypto Valley Association, Switzerland’s leading blockchain ecosystem, and supported by Innovaud, the innovation and investment promotion agency of the Canton of Vaud.
YouHodler, the regulated Swiss and EU-based Web3 platform, joins as Official Fintech Partner and Title Sponsor of AI.LOVE.JAZZ 2026.
“Music has always been one of the most powerful forms of human expression. Throughout history, every major technological shift has influenced how music is created, distributed, and experienced. We are witnessing another such transformation today with artificial intelligence. At the same time, we see similar patterns in finance, where blockchain technology and digital assets are changing how people interact with money. Adoption happens when technology becomes useful, accessible, and trusted. AI.LOVE.JAZZ represents precisely that moment for AI-powered creativity, and we are proud to support this movement as its Official Fintech Partner.”
— Ilya Volkov, CEO of YouHodler and Co-Founder of AI.LOVE.JAZZ
Facts About AI Music
• 60,000 — AI-generated tracks uploaded to streaming platforms every day.
• $2.6–6.6B — Estimated value of the AI music market in 2025.
• 65%–85% — Of all music producers say they incorporate AI tools into their workflow.
• AI.LOVE.JAZZ Radio has been broadcasting AI-assisted jazz, blues, soul, funk, and melodic rock 24/7 since launching in March 2026 — a growing, living catalogue of what AI-assisted music sounds like today.
• Every track on the radio and in the contest is a reminder that behind every successful AI-generated track stands human creativity, artistic vision, and countless hours of work. AI composes, but it does not feel, choose, or mean.
• The contest has already drawn submissions from creators across dozens of countries — proof that AI is lowering the barrier to musical creation without lowering its emotional stakes.
Personalities Behind The Movement
• Ilya Volkov — Co-Founder of AI.LOVE.JAZZ and CEO of YouHodler. A fintech pioneer and AI music creator himself, driven by the conviction that AI-generated music can be genuinely beautiful.
• Alex Chapsky — Co-Founder of AI.LOVE.JAZZ. AI-artist, screenwriter, marketing and brand strategist, shaping the project’s voice, vision, and cultural positioning.
• Oscar Gómez, MoneOnDaBeat, and Jieun Park — the international jury bringing decades of Grammy-winning production experience and deep expertise in AI creativity to the panel.
About AI.Love.Jazz And AI.Love.Jazz Radio
AI.LOVE.JAZZ is a global online AI music contest and a two-day live event in Montreux, Switzerland, created to bring AI-assisted music into a real cultural spotlight alongside one of the world’s most iconic music destinations.
Founded by AI music enthusiasts, the initiative is backed by Crypto Valley Association and supported by Innovaud, while bringing together artists, technology companies, investors, and industry leaders around a shared vision of responsible innovation in music. Since launching in March 2026, AI.LOVE.JAZZ Radio has been broadcasting AI-assisted jazz, blues, soul, funk, and melodic rock music 24/7, showcasing a growing catalogue of AI-assisted music. For more information, visit ailovejazz.com and ailovejazz.com/radio.
About YouHodler
YouHodler is a regulated Swiss- and EU-based Web3 platform that offers innovative fintech solutions, seamlessly bridging fiat and cryptocurrency financial services with simplicity, efficiency, and transparency. While user-friendly and intuitive for everyday consumers, the full-service platform is also advanced enough to facilitate strategic trading in the cryptocurrency market. For more information, visit youhodler.com.
Montreux, Switzerland — June 2026
The post AI.LOVE.JAZZ Brings the World’s First AI Jazz Festival to Montreux appeared first on BeInCrypto.
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