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Tom Lee Ties Ethereum Selloff to Quarter-End Window Dressing

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Tom Lee Ties Ethereum Selloff to Quarter-End Window Dressing

Bitmine Chairman Tom Lee tied Ethereum’s (ETH) 8% weekly drop to quarter-end window dressing, arguing funds trimmed three-month losers.

The executive made the comments as Bitmine reported holdings of 5,700,040 ETH worth roughly $9 billion.

Lee Frames ETH Drop as Quarter-End Window Dressing

Window dressing refers to fund managers selling underperforming positions before quarter-end reporting dates. The practice allows them to present portfolios with fewer losing positions to clients, even though it does not improve the portfolio’s actual performance or returns.

Lee pointed to the term when describing Ethereum’s recent slide. 

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“This past week was a challenging one for crypto investors as ETH fell by 8% … We are nearing quarter-end for June, and it is not surprising to see ‘window dressing’ leading to investors reducing their holdings in assets which have fallen in the past 3 months,” he said.

The drop fits a wider decline. Ethereum has fallen nearly 22% over the past month, outpacing Bitcoin’s (BTC) 19% loss. It is also on track for a third consecutive red quarter. 

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Treasuries Keep Buying as ETH Trades Below Cost

Nonetheless, Bitmine kept accumulating through the weakness. The firm acquired 27,084 ETH last week.

Its stake now equals 4.7% of the 120.7 million ETH supply, or 94% of its “Alchemy of 5%” target. 

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“The future roadmap for crypto remains positive as the dual drivers of Wall Street modernizing its legacy infrastructure on crypto rails and the future of agentic-AI payment systems on crypto rails remain intact. Bitmine remains focused on the longer-term horizon and continues to manage the company to be positively positioned for these exponential drivers,” Lee added.

Meanwhile, the second-largest Ethereum holder, SharpLink, has also resumed buying. The firm restarted its accumulation after an eight-month pause. 

According to Lookonchain, it has acquired 39,196 ETH. Despite the renewed buying, SharpLink still holds an unrealized loss of nearly $1.7 billion, with an average acquisition cost of about $3,609 per ETH.

The renewed buying signals conviction among large holders even as prices sit far below their entry points. Whether quarter-end reporting marks a turn or deeper weakness may become clearer in July.

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Dow Closes Above 52,000 for First Time as Alphabet Debuts

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Alphabet has faced a rough month, down near 8% even after Monday's performance

The Dow Jones Industrial Average (DJIA) closed above 52,000 for the first time on Monday, June 29, powered by Alphabet’s blue-chip debut and a broad rally in semiconductor stocks.

The index gained 306.63 points, or 0.59%, to finish at 52,182.74. The S&P 500 rose 1.18% to 7,440.43, and the Nasdaq Composite surged 2.07% to 25,820.14.

Alphabet’s Dow Debut Lifts Sentiment

Alphabet (GOOGL) climbed nearly 5% on its first session as a Dow member after replacing Verizon in the index. The addition carries more symbolic weight than mechanical impact, as the stock already sits in the S&P 500 and Nasdaq 100, limiting forced fund buying from the change.

Alphabet has faced a rough month, down near 8% even after Monday's performance
Despite the pump, Alphabet has faced a rough month, down near 8% even after Monday’s performance. Image Source: Trading View

Despite Monday’s pop, Alphabet is still on pace for its worst month since February of last year, with six of the past seven weeks ending in negative territory. Investor concerns center on AI execution, with Nvidia chip stock flows drawing renewed attention across the sector as compute access tightens.

Semis and Geopolitics Drive the Broader Move

The VanEck Semiconductor ETF gained more than 3%, led by Astera Labs, KLA, and Applied Materials, which rose roughly 16%, 12%, and 11%, respectively.

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Macro relief also played a role. The US and Iran agreed to pause hostilities and allow commercial vessels to transit the Strait of Hormuz freely.

Brent and West Texas Intermediate climbed slightly, as traders weighed whether the ceasefire would hold. BeInCrypto previously covered how Iran’s oil ceasefire deals move crude and downstream inflation expectations.

Whether the rally extends into a shortened week ahead of the July 4 holiday will depend on whether the Iran ceasefire holds and if semiconductor momentum carries through.

The post Dow Closes Above 52,000 for First Time as Alphabet Debuts appeared first on BeInCrypto.

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BlackRock’s IBIT sheds $300 million as bitcoin demand dwindles

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ProShares introduces first CoinDesk 20 Crypto ETF under ticker KRYP

U.S. spot bitcoin ETFs lost a net $231 million on Monday, with BlackRock’s IBIT accounting for $300 million of outflows that other funds partly offset, including $50 million into ARKB and $35 million into GBTC, per SoSoValue data.

The outflow lands as risk appetite elsewhere is surging. Wall Street’s technology rally spread into Asia on Tuesday, with the MSCI Asia Pacific index up 1% on the year’s final trading day after a semiconductor rebound helped the S&P 500 snap a five-session losing streak. The Asian benchmark is on track for its biggest quarterly gain in almost 17 years.

South Korea’s Kospi, which crashed 10% in a single session earlier this month, climbed 2.1% to extend its lead as the world’s best-performing major benchmark this year. Samsung is up more than 100% this quarter, and SK Hynix has gained almost 240% since April. The yen slid to its weakest level against the dollar since 1986, a sign investors are funding the AI trade by borrowing in yen.

Bitcoin ETFs are not participating in that capital rotation, however. The same AI infrastructure spending fueling record quarters in Seoul and Tokyo is the trade competing for the dollars that might otherwise flow into bitcoin, a dynamic that has run through the month’s coverage of SpaceX, Anthropic and the chip sector.

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Ethereum (ETH) Faces Extended Decline as Q2 Ends with Major Outflows

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Ethereum (ETH) Price

Key Highlights

  • BitMine acquired 27,084 ETH in the past week, marking its fourth-smallest weekly accumulation this year, pushing total reserves to 5.7 million ETH.
  • US-based spot Ethereum ETFs experienced their seventh consecutive week of net redemptions, shedding $273.3 million in the steepest weekly decline since January.
  • Sharplink re-entered the market after an eight-month hiatus, acquiring 39,196 ETH valued at $62.4 million across three consecutive days.
  • Ethereum has declined approximately 50% year-to-date and approaches the possibility of recording three consecutive quarterly losses.
  • Derivatives markets reveal $4.09 billion in short positions compared to $1.31 billion in long positions, highlighting prevailing bearish sentiment among traders.

Ethereum’s market value hovers around $1,580 as the blockchain network contends with diminishing corporate accumulation and persistent outflows from investment vehicles. The cryptocurrency has found it difficult to maintain critical price thresholds throughout June.

Ethereum (ETH) Price
Ethereum (ETH) Price

BitMine Immersion, holding the distinction of being the largest institutional ETH holder, acquired 27,084 ETH during the previous week. This transaction elevated the company’s aggregate holdings to 5.7 million ETH, representing approximately $9.22 billion in value. The purchase volume represents one of the company’s most modest weekly acquisitions this year.

Simultaneously, BitMine allocated 160,480 ETH to its staking infrastructure. The firm’s staked portfolio now encompasses 4.879 million ETH, producing approximately $211 million in annual staking rewards.

BitMine Chairman Thomas Lee attributed the reduced acquisition pace to end-of-quarter “window dressing” activities. He observed that market participants frequently reduce exposure to underperforming assets during quarterly closings, regardless of positive fundamental developments.

Investment Fund Redemptions Accelerate

US spot Ethereum exchange-traded funds registered their seventh straight week of negative net flows. These investment vehicles experienced redemptions totaling $273.3 million over the past week, representing the most substantial weekly decline since January, based on SoSoValue tracking data.

BlackRock’s iShares Ethereum Trust experienced the largest redemptions among ETF providers. The trend demonstrates retail and institutional fund investors reducing allocations while certain corporate treasuries maintain their accumulation strategies.

This divergence has generated an atypical market dynamic. Corporate balance sheet strategies continued adding ETH exposure while traditional fund investors redirected capital to alternative investments.

Sharplink, another prominent institutional ETH holder, re-initiated purchases following an eight-month dormant period. Blockchain analytics from Lookonchain documented the company’s acquisition of 39,196 ETH valued at $62.4 million through three separate transactions during the previous week.

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Arkham Intelligence data identified the initial purchase batch through FalconX on Thursday. Sharplink executed additional transactions on Friday, complemented by substantial over-the-counter trades throughout the weekend.

As of June 21, Sharplink maintained holdings of 876,285 ETH, establishing its position as the second-largest public corporate ETH holder after BitMine. The company has not publicly addressed the rationale behind resuming its accumulation strategy.

Quarter-End Performance and Derivatives Market Positioning

Ethereum has experienced a decline approaching 50% since the beginning of January. This downturn temporarily allowed Tether’s USDt stablecoin to surpass ETH in overall market capitalization during the past week.

Cryptocurrency analyst Max Crypto highlighted in a social media post that ETH approaches the possibility of recording three consecutive quarterly losses for the first time in its history. He characterized this pattern as a structural concern extending beyond temporary price volatility, prompting market observers to monitor whether the asset can prevent a fourth consecutive negative quarter.

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Derivatives market information from CW indicated that high-leverage short positions on ETH totaled $4.09 billion. Long positions registered $1.31 billion on the identical platform, suggesting that speculative traders anticipate continued downward price movement.

From a technical perspective, ETH trades beneath its 20-day, 50-day, and 100-day Exponential Moving Averages, which range between $1,670 and $2,004. The Relative Strength Index currently registers 35, while the Stochastic indicator stands at 26, both metrics indicating persistent downward momentum with minimal signals of reversal.

Market analyst Daan Crypto Trades remarked on social platform X that Ethereum has been unable to successfully recapture previous support zones. He indicated that a recovery above $1,750 would represent the initial indication of bullish strength on extended timeframes, whereas a breach below the current $1,500 support level, which has provided a floor on two prior occasions, could trigger a decline toward April 2025 price lows.

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Near-term resistance levels for ETH are positioned at $1,626, followed by additional barriers at $1,670 and $1,741. Support zones are established near $1,524, with a secondary support foundation at $1,404.

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XRP Holds Strong Above $1 Mark Amid Surging Network Activity and ETF Interest

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xrp price

Key Takeaways

  • XRP currently hovers around $1.05, maintaining stability above the critical $1 threshold following a June 25 dip to $1.01—the lowest level in 19 months.
  • Tokens flowing out of exchanges increased dramatically, jumping from 40.7 million to approximately 123 million XRP within days, suggesting potential accumulation by holders.
  • Spot XRP ETFs recorded their eighth consecutive week of positive inflows, bringing total cumulative inflows to approximately $1.47 billion.
  • Network engagement surged with daily active addresses climbing 72% over a two-week period, moving from 23,000 to nearly 39,500.
  • Derivatives open interest contracted sharply from 1.3 billion to under 150 million, indicating a significant deleveraging event.

XRP maintains its position around the $1.05 level following a challenging June performance. The digital asset touched approximately $1.01 on June 25, marking its lowest valuation in 19 months, yet purchasing pressure has successfully defended the psychologically important $1.00 threshold in subsequent trading sessions.

xrp price
XRP Price

While price action has remained subdued, the underlying XRP Ledger has demonstrated notable vitality. The blockchain recorded 4,941 newly created wallets within a 24-hour window, representing the most significant single-day expansion in wallet creation observed over the past three months.

Concurrently, daily active addresses have experienced substantial growth. The metric expanded from approximately 23,000 on June 14 to nearly 39,500 by June 27, reflecting a 72% increase within a fortnight.

Token Movement and Institutional Capital Flow

Blockchain analytics reveal an accelerating trend of tokens being withdrawn from centralized exchanges. The exchange net position change metric shifted from roughly 40.7 million XRP on June 22 to approximately 123 million XRP several days afterward, representing an increase of nearly 200%.

Source: Glassnode

Such withdrawal patterns typically indicate that holders are moving assets into self-custody rather than positioning for immediate sales. Meanwhile, institutional appetite for XRP exposure continues unabated.

Spot XRP exchange-traded funds have maintained positive net inflows for eight consecutive weeks. Total cumulative inflows now approach $1.47 billion, with an additional $22.99 million recorded during the week ending June 26.

Notably, on June 26, XRP-focused ETFs attracted $15.6 million in capital while bitcoin-based products experienced $444.5 million in withdrawals and ethereum funds recorded $12.9 million in outflows.

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The derivatives market has undergone significant consolidation. Open interest across primary trading venues declined from a peak exceeding 1.3 billion to beneath 150 million, eliminating substantial speculative positioning that accumulated during XRP’s previous upward movement.

Market intelligence firm Santiment Intelligence highlighted this divergence between price weakness and growing network participation in a recent analysis. The firm observed that new wallet creation and optimistic market sentiment are materializing even as price threatens the $1 level, with sentiment analysis revealing 3.7 positive comments for each negative one—the highest ratio in three months.

Critical Technical Zones Under Observation

XRP has remained confined within a descending price channel throughout the past year. The 20-period exponential moving average, which tracks near-term momentum, currently aligns with the upper boundary of this channel in the $1.18 to $1.22 range.

Source: TradingView

This region also coincides with a Fibonacci retracement level at $1.178 and a concentration of approximately 22.8 million XRP in cost basis distribution between $1.18 and $1.19. An additional 27.4 million XRP are positioned between $1.21 and $1.22.

These price zones represent areas where previous purchasers may attempt to exit positions at breakeven, establishing resistance. A decisive move above $1.18 followed by $1.22 would push XRP beyond its established downtrend into more neutral technical territory.

For downside protection, immediate support is established near $1.02. A violation of this level could potentially trigger a decline toward $0.87, according to Fibonacci extension analysis.

In the near term, market participants are monitoring $1.06 as initial resistance, followed by the $1.09 to $1.10 zone where previous recovery attempts have encountered selling pressure. A sustained move above $1.20 would represent the first meaningful indication of a potential trend reversal.

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The 4-hour relative strength index has recovered to 46 after entering oversold territory, though it remains below the neutral 50 threshold. Price action recently consolidated within a $1.03 to $1.06 range, with peak trading volume occurring on June 29 at 17:00 UTC when 86.5 million XRP were exchanged.

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Why crypto founders are ditching Europe for Dubai ahead of a major deadline

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Why crypto founders are ditching Europe for Dubai ahead of a major deadline

The pickup began about 18 months ago, before MiCA’s first rules took effect, she said. Stablecoin regulations began applying about a year ago, and crypto-asset service providers have been working through a transition period before the July 1, 2026, deadline. After that date, firms relying on legacy national regimes will no longer be able to provide MiCA-regulated services in the EU.

The inquiries come from entrepreneurs frustrated by bureaucracy and regulatory burdens in Europe.

“They’re not just some random guys,” she said. “They’re former founders or current founders, somebody with multiple exits, somebody with years of experience in crypto.”

The deadline is already reshaping the competitive landscape. Binance, the world’s largest cryptocurrency exchange by trading volume, withdrew its MiCA application in Greece last week and notified EU users it would suspend some services while seeking another regulatory route. The company said it remains committed to Europe.

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“Our ambitions in Europe remain the same, and we are confident we will secure a MiCA licence in the coming months,” Binance said in a statement to CoinDesk on Thursday.

Rivals are trying to capitalize. OKX and Coinbase (COIN) announced bonuses of up to 8% of total deposits and transfers for new users the following day.

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Sovereign Funds Target Bitcoin at a Discount, Says MidChains CEO

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Crypto Breaking News

Sovereign wealth funds are reportedly increasing exposure to spot Bitcoin, a development MidChains CEO Basil Al Askari said may reflect growing institutional interest at current price levels. Speaking on Cointelegraph’s “Chain Reaction” podcast on Monday, Al Askari said he could confirm at least one—and potentially two—in the coming weeks—sovereign wealth funds accumulating spot Bitcoin.

While retail participation has slowed, Al Askari pointed to stronger momentum from institutions and corporates, arguing that the present price environment is functioning as an “entry level” for larger funds that can wait through long accumulation cycles.

Key takeaways

  • MidChains CEO Basil Al Askari says one, possibly two, sovereign wealth funds are accumulating spot Bitcoin, potentially in the coming weeks.
  • Al Askari frames the current price level as attractive “entry level” positioning for mega funds with long time horizons.
  • He expects the effect on markets to be gradual rather than a rapid cascade, but sees it as a clear signal to other institutions.
  • Coinbase institutional strategy head John D’Agostino earlier said institutional buyers view the dip as an opportunity, particularly among UAE family offices and sovereign-linked investors.
  • Despite spot Bitcoin ETF outflows in the U.S., corporate treasuries—especially Strategy—continue adding to BTC holdings.

Sovereign funds add spot Bitcoin exposure

Al Askari’s remarks center on state-backed capital moving into Bitcoin at a time when retail demand appears to be cooling. A sovereign wealth fund is typically a government-owned investment pool funded by national reserves, so the implication is less about short-term trading and more about long-term allocation decisions.

To help contextualize the scale of that player base, the article notes sovereign wealth funds collectively control more than $13 trillion globally, citing Visual Capitalist. Al Askari described these allocations as experiments for institutions that may have been waiting for a more compelling price to begin building positions.

Importantly for investors, he argued that this type of activity is unlikely to trigger an immediate, dramatic repricing. Instead, it can act as a confidence signal—encouraging other institutions that view larger funds as leaders to “start to get involved.”

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Why a “long horizon” matters for Bitcoin supply dynamics

Al Askari suggested the strategic value of such accumulation lies in Bitcoin becoming “more and more scarce” over time as larger holders with longer investment horizons lock in supply. In his view, the key mechanism is not just who buys, but how long they plan to hold.

That distinction matters because it reframes the narrative from near-term momentum to liquidity and available float over extended periods. If more institutional capital transitions from sporadic exposure to sustained accumulation, the market’s effective supply can tighten gradually—potentially influencing volatility and depth even when short-term flows look mixed.

“I do think this is what will happen, is that over the longer term period, we’ll start to see Bitcoin becoming more and more scarce as a result of larger holders with much longer time horizons on their holding periods as far as looking at investments.”

ETFs see U.S. outflows even as corporate treasuries buy

The broader picture is mixed across investor segments. According to the source, sustained U.S. spot Bitcoin ETF outflows have totaled more than $4.1 billion so far this month, referencing Cointelegraph coverage of ETF flow performance and noting that Bitcoin ETF outflows are exceeding that threshold.

At the same time, corporate treasuries—particularly Strategy—continue accumulating. The article states that Strategy has scooped up 3,657 BTC this month, pointing to Cointelegraph reporting on the company’s reserve purchases.

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This divergence—ETF outflows on one side and corporate accumulation on the other—can be read as a shift in where new demand is showing up. When exchange-traded product flows weaken but corporate balance-sheet demand persists, it suggests the marginal buyer may be changing rather than demand disappearing altogether.

Institutional “discount buying” and sovereign-linked appetite

Coinbase’s head of institutional strategy, John D’Agostino, previously weighed in on how institutional investors interpret the current market. In a CNBC interview earlier this month, D’Agostino said the “dip” is being welcomed by institutional investors, adding that he had just returned from the Middle East and observed that UAE family offices and sovereign-linked investors were not unhappy to buy at a discount.

The remarks underscore a practical reality for large-scale allocation: for patient capital, drawdowns can improve entry terms and reduce the risk of buying at potentially overextended levels. For traders, it also highlights that short-term market declines may not deter longer-term participants—especially those able to execute steadily rather than chase trends.

Known sovereign examples: Mubadala and Bhutan

The source highlights specific sovereign-related examples to illustrate the pattern. It notes that Abu Dhabi’s Mubadala Investment Company invested $437 million in BTC via BlackRock’s iShares Bitcoin Trust (IBIT) shares in February 2025. It also points to Bhutan’s Druk Holding and Investments as an early and more direct sovereign holder, while stating that the company has been selling some BTC this year, referencing Cointelegraph coverage of those sales.

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Taken together, these examples point to a broader institutional learning curve: sovereign entities have already tested mechanisms for gaining Bitcoin exposure, and the current phase may be characterized by more deliberate scaling and timing—potentially shifting from ETF vehicles toward spot accumulation, as Al Askari suggested.

For readers, the next thing to watch is whether ETF outflows remain elevated as corporate and sovereign-related buyers continue adding, and whether Al Askari’s “one, possibly two” additional sovereign funds materialize publicly in the weeks ahead. That will help clarify whether this is a one-off window for discounted entries—or the start of a more durable institutional accumulation cycle.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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What’s Changing With Australia’s Crypto Travel Rule

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What’s Changing With Australia’s Crypto Travel Rule

Crypto exchange users in Australia will soon face stricter rules on all transfers as the country’s travel rule is set to come into force on Wednesday, aligning it with similar rules in the EU, US and UK.

From July, all crypto sent and received on locally-regulated crypto exchanges will require users to provide additional information, such as the name of the person the crypto is being sent to or received from, and the name of the platform.

Gabby Lewis, the head of fraud and financial crime at Swyftx, told Cointelegraph that for most exchange users, “the impact should be very limited. They’ll provide the required details once, and then these will be saved for future use.”

The rules are set to bring Australia in line with other countries that have implemented the travel rule for years, which the Financial Action Task Force, an international policy-making body, first extended to crypto in 2019.

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Crypto users have long expressed concern that the rule would impact the anonymity of the technology and the risks of data linking crypto transfers to personal information being leaked.

However, Lewis said that the “travel rule isn’t crypto-specific. It already applies across financial services and has been implemented in areas including Singapore, the United States, New Zealand and the UK. Australia is now following suit.”

The rule aims to prevent money laundering, terrorist financing and scams by increasing the traceability of crypto transfers. It will be enforced by the Australian Transaction Reports and Analysis Centre (AUSTRAC), the country’s financial intelligence agency.

Transfers from a regulated crypto exchange to a self-custodial address, such as a cold storage wallet, will also prompt a user to verify and declare that they are the owner of that address. 

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“We’re generally talking about a quick confirmation that the wallet is theirs,” Lewis said. “The additional steps mainly come into force for transfers that involve another party or another exchange.”

Australia’s travel rule has no minimum value threshold, meaning a transfer of any size will require an exchange to gather information, aligning it with countries including France, the Netherlands and Japan that have no minimum.

Source: Sam Green

Other countries have set minimum reporting thresholds, such as the US, which only collects information on transfers starting at $3,000.

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Some crypto exchanges operating in Australia have already begun to implement the travel rule, such as Kraken, which started on March 31, and CoinJar, which started on Tuesday.

Related: Australia passes digital asset bill bringing crypto platforms under licensing

Crypto users online have recently given mixed reactions to the rule, which the Australian parliament passed into law in 2024.

“With these new rules, you can forget about sending crypto anonymously,” a Reddit user wrote earlier this month.

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“New travel rule is insane,” another Reddit user wrote earlier in June. “Thinking of moving everything to cold storage instead now.”

In response, one Reddit user said that “the regulated platforms were never anonymous.” 

“This is less of a problem than you’re making it out to be unless you’re involved in activities the authorities would be interested in already,” another user wrote.

Magazine: Crypto scammers face death, Aussie CGT makes Asian hubs attractive: Asia Express

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Chinese billionaire Miles Guo gets 30 years in $1B crypto fraud case

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Chinese billionaire Miles Guo gets 30 years in $1B crypto fraud case

Self-exiled Chinese billionaire Miles Guo has been sentenced to 30 years in a U.S. prison after being convicted in a fraud scheme that prosecutors said stole more than $1 billion from investors through multiple ventures, including cryptocurrency.

Summary

  • Miles Guo was sentenced to 30 years in a U.S. prison and ordered to forfeit $889 million after his fraud conviction.
  • Prosecutors said the scheme raised more than $1 billion from investors through multiple ventures, including the Himalaya Exchange and Himalaya Coin.
  • The sentencing comes as crypto related financial crime continues to face tighter enforcement in both the United States and China.

According to multiple media reports, U.S. District Judge Analisa Torres handed down the sentence on Monday and ordered Guo, also known as Guo Wengui, to forfeit $889 million in restitution.

The sentencing follows a July 2024 jury verdict that found Guo guilty on nine fraud and conspiracy charges after prosecutors accused him of raising money from hundreds of thousands of online followers through false investment promises tied to businesses under his control.

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Crypto scheme formed part of fraud case

Federal prosecutors had alleged that Guo attracted investors by presenting himself as a critic of the Chinese Communist Party after fleeing China more than a decade ago, while using that reputation to promote fraudulent investment opportunities.

According to the U.S. Department of Justice, one of those ventures was the Himalaya Exchange, a cryptocurrency ecosystem that collected more than $262 million from victims. The department said Guo later spent investor funds on luxury assets, including a mansion and high end vehicles.

Earlier court filings from the DOJ said Guo orchestrated a scheme that defrauded thousands of investors of more than $1 billion after his arrest in March 2023.

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At the sentencing hearing, the Associated Press reported  that Guo told the court he came to the United States “to destroy the CCP.” AP also reported that Judge Torres said Guo had preyed on supporters seeking democracy in China and had continued to deny causing financial harm.

SEC case remains part of wider enforcement action

Separate from the criminal prosecution, the U.S. Securities and Exchange Commission charged Guo and his financial adviser, William Je, in March 2023 over an alleged fraud that raised hundreds of millions of dollars through an unregistered crypto asset known as H Coin, or Himalaya Coin.

According to the SEC complaint, Guo falsely claimed the token was backed by gold and assured investors they would be reimbursed for any losses. The regulator also accused Guo and Je of diverting investor funds to finance luxury purchases, including a mansion and a Ferrari, while seeking permanent injunctions, civil penalties and the recovery of alleged illegal gains.

The SEC and DOJ announced their actions on the same day in March 2023, with the Justice Department filing a 12-count indictment that included securities fraud, wire fraud, investment fraud and money laundering charges against Guo. William Je was also charged with obstruction of justice, while authorities said they seized about $634 million held across 21 bank accounts linked to the investigation.

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Guo is also known for his association with former Donald Trump strategist Steve Bannon. In 2020, the pair announced the New Federal State of China initiative, describing it as an effort to overthrow the Chinese government.

Elsewhere, Chinese authorities have also stepped up enforcement against cryptocurrency-related financial crimes.

China’s Supreme People’s Procuratorate said on June 25 that prosecutors had charged more than 1,200 people for drug related money laundering cases between January 2025 and May 2026, including schemes involving cryptocurrencies. 

The disclosure came as China announced a death sentence for a convicted drug trafficker found to have laundered more than 48 million yuan, or about $7 million, through cryptocurrency as part of a cross-border narcotics operation.

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Supreme Court Blocks Trump From Firing Governor Leaving Bitcoin with Hawkish Fed

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Supreme Court Blocks Trump From Firing Governor Leaving Bitcoin with Hawkish Fed

The US Supreme Court ruled 5-4 on June 29 that President Donald Trump cannot remove Federal Reserve Governor Lisa Cook, for now. Still, the decision preserves the Fed’s independence at the worst possible time for Bitcoin.

The ruling locks in a hawkish Fed that has already eliminated rate cut expectations for 2026 and put hikes back on the table. High rates keep pressure on zero-yield assets like Bitcoin, and Monday’s decision removes one of the few near-term paths to a more dovish board.

A Hawkish Fed Just Got More Secure

Cook’s survival matters for rate policy. Trump wanted her gone so he could, instead, install a governor more open to rate cuts. The court blocked that move.

The timing stings for crypto markets. The June Federal Open Market Committee meeting eliminated rate cut projections for 2026 entirely and put hikes back on the table. Bitcoin ETF outflows continued through June as investors rotated away from zero-yield assets.

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BTC dropped below $60,000 on Monday, meaning it is now down more than 50% from its all-time high.

Monday’s ruling locks in the Warsh-led, hawkish Fed, at least until lower courts resolve the underlying case. Trump cannot sidestep that by firing governors at will.

“This was never about mortgage documents … It was an attempt to remove me on a manufactured pretext because I refused to bow to political pressure.”
— Lisa Cook, Federal Reserve Governor, statement

What Case Does Trump Have Against Cook?

The case against Cook centers on allegations from FHFA Director Bill Pulte, who accused her of mortgage fraud in August 2025. Pulte claims Cook listed two properties, one in Michigan and one in Georgia, as primary residences within weeks of each other in 2021, notably before she joined the Fed board.

Cook’s attorney called the claim baseless, saying it rests on a single ambiguous reference in one mortgage document.

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Lisa Cook, Federal Reserve Governor. Image Source: BBC

Cook and her allies argue that the timing reveals the real motive. Trump moved to fire her after months of pressuring the Fed to cut rates faster, and Cook had voted to hold rates steady. Ultimately, the court said no to the firing.

Yet, the fact that this case reached the Supreme Court at all is proof of concept. As Trump’s appointment of Warsh showed, political pressure on the Fed does not require firing anyone. It just requires choosing the right chair.

The post Supreme Court Blocks Trump From Firing Governor Leaving Bitcoin with Hawkish Fed appeared first on BeInCrypto.

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From Wallets to Intelligent Financial Agents

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From Wallets to Intelligent Financial Agents

For years, crypto wallets have served as the gateway to decentralized finance (DeFi). They allow users to store digital assets, sign transactions, and interact with blockchain applications. While these functions remain essential, the next generation of wallets is evolving into something much more powerful: intelligent financial agents capable of managing digital assets autonomously, making informed decisions, and optimizing financial strategies.

This transformation marks a major milestone in the evolution of Web3, where artificial intelligence (AI) and blockchain technology converge to create smarter, more efficient financial systems.

The Evolution of Crypto Wallets

The earliest cryptocurrency wallets were simple tools designed to store private keys securely. As blockchain ecosystems matured, wallets expanded their capabilities by supporting decentralized applications (dApps), NFT management, staking, cross-chain transactions, and token swaps.

Despite these improvements, users still perform most tasks manually. Finding the best yield, monitoring market conditions, rebalancing portfolios, and protecting assets from emerging risks require continuous attention and technical knowledge. Intelligent financial agents aim to eliminate much of this complexity.

What Are Intelligent Financial Agents?

An intelligent financial agent is an AI-powered software system that operates on behalf of a user while respecting predefined rules and permissions. Instead of simply executing commands, these agents analyze blockchain data, evaluate market opportunities, and carry out financial actions automatically.

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Unlike traditional automated trading bots that follow rigid instructions, intelligent agents continuously learn from changing market conditions and adapt their strategies based on user preferences and objectives.

For example, an intelligent agent could:

  • Monitor multiple DeFi protocols for the highest risk-adjusted yields.
  • Automatically rebalance a crypto portfolio.
  • Pay recurring blockchain subscriptions.
  • Execute cross-chain transfers at the lowest possible cost.
  • Protect funds by moving assets away from protocols experiencing security concerns.
  • Optimize tax reporting and transaction records.

The wallet becomes more than storage—it becomes an active financial assistant.

How AI Enhances On-Chain Decision Making

Artificial intelligence excels at processing enormous amounts of information far faster than humans. Blockchain networks generate vast streams of real-time data, including liquidity movements, governance proposals, protocol upgrades, transaction volumes, and market sentiment.

AI agents can analyze these data sources simultaneously to identify trends and opportunities that would be difficult for individuals to detect manually.

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Rather than asking:

“Which lending protocol currently offers the best return?”

Users may simply instruct:

“Maximize my yield while keeping portfolio risk low.”

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The intelligent agent can evaluate multiple protocols, compare risks, execute transactions, and continue monitoring performance after deployment.

Automation Beyond Trading

Many people associate AI in crypto with automated trading, but intelligent financial agents have much broader applications.

They can simplify everyday blockchain interactions by:

  • Managing staking positions automatically.
  • Claiming and compounding rewards.
  • Voting in decentralized governance according to user preferences.
  • Managing NFT collections.
  • Scheduling recurring payments.
  • Executing payroll for decentralized organizations.
  • Monitoring wallet security continuously.

This allows users to focus on strategy instead of repetitive operational tasks.

Personalized Financial Management

One of the greatest strengths of intelligent financial agents is personalization.

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Every investor has different goals, risk tolerance, liquidity needs, and investment horizons. AI agents can build customized strategies based on these individual preferences.

For example:

  • Conservative users may prioritize capital preservation.
  • Income-focused investors may maximize staking rewards.
  • Active traders may seek short-term opportunities.
  • Long-term holders may automate dollar-cost averaging.

Instead of offering generic financial advice, intelligent agents continuously adapt to each user’s evolving objectives.

Challenges and Risks

Despite their promise, intelligent financial agents introduce new challenges.

Security remains the highest priority. Permitting AI systems to manage digital assets requires robust safeguards, including permissioned execution, transaction limits, multi-signature approvals, and transparent audit trails.

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Privacy is equally important. AI systems handling sensitive financial information must protect user data while maintaining decentralization whenever possible.

There are also regulatory considerations. As autonomous financial software becomes more sophisticated, governments and regulators will likely develop new frameworks governing AI-driven financial services.

The Future of Autonomous Finance

The long-term vision extends beyond individual wallets.

Future decentralized ecosystems may consist of networks of AI agents collaborating. One agent could negotiate loans, another could optimize liquidity, while another manages governance participation—all operating under user-defined objectives.

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In this environment, financial management becomes increasingly autonomous, efficient, and accessible.

Rather than replacing human decision-making, intelligent financial agents serve as trusted assistants that help users navigate increasingly complex decentralized ecosystems with greater confidence.

Conclusion

The transition from traditional crypto wallets to intelligent financial agents represents one of the most exciting developments in Web3. By combining blockchain’s transparency with AI’s analytical capabilities, users can move beyond manual asset management toward autonomous, personalized financial assistance.

As these technologies continue to mature, wallets will no longer function solely as secure storage for digital assets. They will evolve into intelligent companions capable of monitoring markets, executing complex financial strategies, managing risk, and helping users achieve their financial goals with minimal friction.

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The future of decentralized finance isn’t just about owning digital assets—it’s about empowering intelligent systems to help manage them responsibly, securely, and efficiently.

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