SharpLink has continued its renewed Ether buying campaign by acquiring another 39,196 ETH worth about $62.4 million over the past three days after returning to the market last week.

According to on-chain data from Arkham, the crypto treasury company bought 5,000 ETH on Friday worth about $7.9 million, before adding another 29,196 ETH valued at roughly $46.7 million through three over the counter transactions on Saturday. The latest purchases followed a 5,000 ETH acquisition on Thursday, its first direct Ether purchase in eight months.

David “JoelKatz” Schwartz has proposed a transaction reservation plan for the XRP Ledger after fresh claims that users may still face front-running and sandwich attacks on payments, offer crossing, DEX trades and AMM swaps. 

The debate started after XRPresso said some actors may be able to view pending transactions before a ledger closes and use that information to target trades.

“A serious front-running issue continues on the XRPL that disadvantages regular users.” XRPresso said validators and well-connected nodes can view transactions in the pre-validation queue, then submit their own transactions to seek a better position in the final ledger order.

XRPresso said the issue matters most for users trading through wallets and dApps. According to the post, the final order inside each ledger follows a known deterministic process, and repeated submissions may raise the chance of landing near a target trade. That could worsen slippage for the original trader when a sandwich strategy succeeds.

Schwartz lays out a reservation scheme

“For the reasons I’ve explained, I’m not that concerned about this issue.” Schwartz wrote that the concern still deserved a practical answer. He then proposed a transaction reservation scheme that could make a disclosed transaction execute before any transaction formed after it became visible.

The plan would add a new ledger object called ReservedTxns. That object would hold a ledger sequence number and an array of transaction IDs. A new TxnReserve transaction would let a user reserve a slot for a transaction in a future ledger, as long as the request meets fee, timing and execution rules.

Schwartz said a reservation should cost at least twice the normal transaction fee. The target ledger would need to be greater than the current ledger and no more than 16 ledgers ahead. Each reserved object would hold fewer than 32 transaction IDs, unless the design later expands the cap.

Reserved transactions would run first

Under the proposal, a reserved transaction would be broadcast close to the point when the prior ledger’s proposals are known. Schwartz said XRPL software could add a feature to hold such transactions and release them only when that condition is met. The transaction should also set its last valid ledger to the ledger where it is expected to run.

When that ledger executes, the network would first check whether a ReservedTxns object exists for the ledger sequence number. If it exists, the network would execute listed transactions that are in the consensus set before other transactions. It would then remove them from the set to stop repeat execution and delete the reservation object.

XRPL documentation says canonical ordering is built to be deterministic, efficient and hard to game. Its DEX documentation also says transaction order is designed to discourage front-running because trades execute when a new ledger closes. However, XRPL’s algorithmic trading documentation says front-running is difficult, but not impossible.

DeFi upgrades raise the stakes

The timing comes as XRPL developers continue to expand the network’s DeFi stack. The XRPL Foundation recently proposed AMM Swappable Curves, a draft upgrade that would add StableSwap and concentrated liquidity options to the native automated market maker. XRPL is also preparing native lending and programmable escrow tools.

Those upgrades could bring more on-chain trading, credit and settlement activity to XRPL. Recent coverage also showed institutional use cases, including a tokenized Treasury settlement involving Ripple and JPMorgan. As activity grows, transaction ordering and pending trade visibility may draw more attention from builders, traders and validators.

Schwartz also addressed possible denial-of-service risks. He said an attacker could try to fill reservation slots across many ledgers, but rising fees could make that costly. Under one example, fees would rise once 16 slots are filled and could reach several times the base reserve near 30 slots. The proposal is not yet a formal amendment, but it gives the XRPL community a clear technical path to review.

Galaxy Digital has cut its odds of the CLARITY Act becoming law in 2026 to 50%, warning that the US Senate is running out of time to move the crypto market structure bill before its August recess.

“We are reducing our odds of CLARITY Act passage in 2026 to 50-50,” wrote Galaxy’s head of firmwide research, Alex Thorn, citing the lack of a unified Senate Banking-Agriculture text, no firm floor schedule and a narrowing legislative window before lawmakers leave Washington. 

Thorn said the downgrade was about the bill’s timing, not substance and added that the congressional competition for floor time “intensified” after US President Donald Trump abruptly canceled the signing of the bipartisan housing bill and said he would not sign it until Congress passed the SAVE Act, to introduce a proof-of-citizenship elections bill.

The downgrade comes after Galaxy lowered its previous estimate of the bill from 75% to 60% on June 9. On May 22, the company had raised its CLARITY Act estimate to 75%.

The CLARITY Act is set for a House hearing on July 17. The bill aims to establish the first regulatory framework for digital assets in the US, but it has been met with criticism. It cleared the Senate Banking Committee in May, with most Democrats and the banking industry pushing back, arguing that it would allow crypto firms to offer yields on stablecoins without facing the same requirements as traditional financial institutions.

Source: Alex Thorn

Congressional calendar squeezes crypto bill

The latest cut reflects mounting concern that even a bill with bipartisan support may not get enough floor time in a crowded Senate calendar.

Senate legislative schedule. Source: Senate.gov 

The US Senate has entered a state work period from Monday until July 10. The Senate is also scheduled to begin its traditional August recess on Aug. 8 for five weeks before returning to Washington on Sept. 14, according to its legislative schedule.

Related: Hyperliquid added to Singapore’s Investor Alert List

The runway to pass the bill is quickly declining, said Thorn, adding that the debate over the SAVE Act “injects another contentious, leadership-consuming fight into an already crowded queue.” 

He added that the Senate is also working on two unfinished developments, including Section 702 of the Foreign Intelligence Surveillance Act (FISA), to which the House failed to pass a reauthorization and the National Defense Authorization Act (NDAA) for the fiscal year of 2027, which is considered “must-pass” legislation and is often the target of political debate.

At the beginning of June, over 200 crypto companies and organizations urged the US Senate to pass the CLARITY Act in a letter shared by crypto lobby group Stand With Crypto.

Later in June, a group of law enforcement organizations and a coalition of Catholic organizations reached out to White House officials with concerns that the CLARITY Act could create oversight gaps regarding illicit activity.  

Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026

South Korean brokerage Kiwoom Securities has entered negotiations to acquire a stake in cryptocurrency exchange Bithumb through a planned purchase of newly issued shares, local media reported on Monday.

According to a ChosunBiz report, Kiwoom and Bithumb are discussing a third-party share allocation under which the exchange would issue new shares for Kiwoom to buy. The report added that both sides are still negotiating the size of the investment and the percentage stake, with no final terms agreed.

The proposed investment would add another major financial institution to South Korea’s digital asset sector as Hana Bank, one of the country’s four largest banks, disclosed plans last month to acquire a $670 million stake in Dunamu, the operator of Upbit. Local media later reported that three Samsung affiliates would purchase about $407.7 million worth of Dunamu shares, securing a combined 4% ownership interest.

Meanwhile, international cryptocurrency firms have also expanded their investments in the country. OKX Ventures announced in May that it would purchase a 19.6% stake in Coinone, while Binance completed its acquisition of Gopax after several years of regulatory delays.

Bithumb prepares for IPO as ownership talks continue

The investment negotiations come days after South Korea’s Personal Information Protection Commission fined Bithumb 210 million won, or about $136,000, for violating rules governing overseas transfers of personal information.

The regulator also ordered the exchange to revise its cross border data transfer procedures after finding that user information had been sent overseas without fully meeting requirements under the Personal Information Protection Act.

The privacy case followed earlier enforcement action against Bithumb over anti money laundering compliance. As previously reported by crypto.news, South Korean regulators imposed a 36.8 billion won penalty after identifying deficiencies related to customer due diligence, transaction monitoring, and transfers involving unregistered overseas virtual asset service providers. 

The Personal Information Protection Commission also published new blockchain privacy guidelines that require firms to address personal data protection when designing blockchain-based services.

In the meantime, Bithumb has continued preparations for a public listing while pursuing the investment discussions. The exchange has signed an IPO advisory agreement with Samjong KPMG that runs through the end of 2027, and Chief Financial Officer Jeong Sang-gyun said in April that the company expects to list in 2028.

South Korean lawmakers are also working on the Digital Asset Basic Act, which seeks to establish a comprehensive legal framework for cryptocurrencies. The proposed legislation would limit a single shareholder’s ownership in a cryptocurrency exchange to 20% in most cases, while allowing holdings of up to 34% under specific conditions that remain under discussion.

Key Takeaways

• The company maintains 847,363 BTC valued at approximately $50.8 billion, though with bitcoin hovering around $60,000 and an average purchase price of ~$75,646, unrealized losses exceed $13 billion.
• Executive Chairman Michael Saylor shared his customary “we’re gonna need more charts” message on social media, suggesting another bitcoin acquisition announcement could arrive as soon as Monday.
• MSTR shares plummeted to approximately $82, marking the lowest point since February 2024, while preferred shares STRC reached a record low of roughly $71 last week.
• For the first time ever, Strategy’s enterprise mNAV dropped below 1, indicating the market now assigns a lower valuation to the company than its bitcoin reserves.
• Industry voices including Ripple’s Brad Garlinghouse and analytics platform CryptoQuant have openly questioned Strategy’s financing approach, with CryptoQuant recommending a halt to additional purchases.

Shares of Strategy (MSTR) have tumbled to their weakest point since February 2024, hovering around $82 following an approximately 8% decline last Thursday. The company’s preferred shares, STRC, similarly touched a record low near $71 during the previous week.

Strategy Inc, MSTR

Despite the downturn, Michael Saylor remains unfazed.

Sunday morning saw Strategy’s executive chairman share the firm’s bitcoin purchase tracking chart on X, accompanied by his signature phrase “We’re gonna need more charts.” This mirrors his actions preceding verified acquisitions on June 7 and June 21. Market watchers anticipate a potential Monday 8-K disclosure.

We’re gonna need more charts. pic.twitter.com/xVASOEnSw8

— Michael Saylor (@saylor) June 28, 2026

The company’s bitcoin treasury comprises 847,363 BTC acquired at an average price of approximately $75,646 per token. With bitcoin currently trading beneath $60,000, the portfolio carries an unrealized loss approaching $13 billion. Industry publication The Block suggests the deficit could reach as high as $14 billion amid continued market weakness.

Strategy’s latest acquisition represented its most modest purchase in recent memory. A June 22 filing revealed a 520 BTC purchase totaling roughly $35 million, alongside a $300 million cash reserve addition that brought total reserves to $1.4 billion. Saylor has indicated these reserves provide approximately 10 months of runway for STRC dividend requirements.

Capital Structure Faces Headwinds

The dual pressures of declining equity values and discounted preferred shares have driven Strategy’s enterprise mNAV below 1 for the first time in company history. This measurement weighs the organization’s complete market capitalization — encompassing debt instruments and preferred equity — against its bitcoin position. When this ratio falls beneath 1, the company’s ability to raise additional capital through equity issuance becomes severely constrained.

STRC features an 11.5% annual yield and was structured to maintain trading proximity to its $100 par value. Current pricing stands around $74.57.

According to Block Research analysis, MSTR common shareholders effectively sit behind approximately $6.7 billion in convertible debt obligations and roughly $15.5 billion in perpetual preferred stock, positioning common equity as a highly leveraged residual interest rather than a straightforward bitcoin exposure vehicle.

The company executed its first bitcoin sale since 2022 on June 1, liquidating 32 tokens for approximately $2.5 million to satisfy a STRC dividend obligation, before returning to its weekly purchasing pattern.

Industry Voices Express Concern

During a Friday CNBC interview, Ripple CEO Brad Garlinghouse suggested Saylor’s organization “wasn’t focused on the right stuff” and argued Strategy’s methodology had negatively impacted broader market sentiment. He cited STRC’s trading discount as proof of structural vulnerabilities.

Blockchain analytics provider CryptoQuant issued a stronger statement on June 23, recommending Strategy immediately suspend acquisitions and prioritize cash accumulation. Research director Julio Moreno highlighted that annual dividend requirements have surged fourfold to approximately $1.2 billion, while STRC coverage has contracted from over seven years to roughly 14 months. CryptoQuant’s analysis suggests the company requires around $2.8 billion in reserves to restore two-year coverage adequacy.

Bitcoin traded below $60,000 on Sunday, approaching its lowest valuation since October 2024.

Key Takeaways

• Dogecoin is consolidating within a narrow $0.073 to $0.076 corridor, facing crucial resistance around $0.078
• An upward-sloping trendline indicates continued buyer presence, though no decisive breakout has materialized
• Open interest has surged while price action remains stagnant, creating vulnerability for overleveraged long traders
• Technical analyst Ali Charts identified a TD Sequential buy indication, emphasizing $0.073 as a critical support threshold
• The meme coin has declined 2.3% in the last 17 hours and 11.7% across the weekly timeframe, mirroring broader market weakness

Dogecoin continues to trade within a confined range between $0.073 and $0.076 as market participants await a definitive directional move. The popular meme cryptocurrency has underperformed relative to other major altcoins throughout the past seven days.

The token experienced approximately 2.3% depreciation during a 17-hour period and has surrendered roughly 11.7% of its value over the weekly span. This positions it among the more significant decliners within the large-capitalization cryptocurrency segment.

The wider digital asset market has faced sustained selling pressure. Bitcoin continues hovering beneath the $60,000 threshold, United States spot Bitcoin exchange-traded funds have recorded net capital outflows, and Federal Reserve policy stance remains restrictive. A strengthening US dollar has compounded these challenges.

Bitcoin’s market dominance has expanded to approximately 58.2%, signaling a capital rotation from elevated-risk altcoins such as DOGE toward the flagship cryptocurrency.

Technical analyst Carlos Garcia Tapia published a chart on X platform illustrating DOGE maintaining position above a significant wick formation near $0.07408. The price action continues respecting a near-term ascending trendline, indicating that buyers remain engaged in protecting lower price zones.

The initial resistance barrier stands near $0.0759. A successful breach of this level could establish a pathway toward $0.0783 to $0.0784. Following that zone, the $0.0803 area represents the subsequent target, with additional resistance positioned at $0.0850 and $0.0876.

Open Interest Surge Amid Stagnant Price Action

An additional chart from analyst CW on X platform demonstrates open interest climbing substantially while price movement remained confined. This configuration typically signals market uncertainty and potential volatility ahead.

$DOGE has remained flat since the last large-scale long position buying. pic.twitter.com/liwHuBp6Jk

— CW (@CW8900) June 28, 2026

Concentrated long positions can fuel upward momentum if buyers successfully breach resistance levels. However, if price action remains sideways or deteriorates, these crowded long positions face liquidation risk during a potential flush-out event.

Market analyst Ali Charts shared on X that the TD Sequential indicator has generated a buy signal for DOGE. “My focus is squarely on $0.073,” Ali Charts stated. “Maintaining this level opens the door to $0.081. A breakdown invalidates the technical setup.”

The TD Sequential has flashed a buy signal on Dogecoin $DOGE.

I’m watching $0.073 closely. Hold it, and $0.081 is in play. Lose it, and the setup is no longer valid. pic.twitter.com/lihmmw0Rg5

— Ali Charts (@alicharts) June 26, 2026

The $0.073 price point has emerged as a widely-monitored support benchmark among traders and technical analysts.

Development Team Addresses Community Concerns

From a fundamental perspective, the official Dogecoin account responded to assertions that the project lacks active development resources. The team emphasized a dedicated core contributor base and ongoing ecosystem initiatives.

This statement was interpreted as neutral to marginally constructive for DOGE’s long-term narrative and did not generate observable selling activity.

No DOGE-specific adverse developments are responsible for the recent price deterioration. The decline corresponds with comprehensive macroeconomic headwinds affecting the cryptocurrency marketplace.

Downside support resides near $0.072. A violation of this threshold would intensify pressure on current long position holders.