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.

The European Banking Authority has proposed a standardized penalty framework that would allow the European Union to impose multimillion euro fines on issuers of significant crypto tokens that breach the bloc’s digital asset rules.

The consultation paper, published on June 26, sets out a two-step methodology for calculating penalties under the Markets in Crypto Assets regulation. The EBA plans to first assess the seriousness of each infringement before adjusting the amount based on aggravating or mitigating circumstances.

Statutory penalties could reach up to 12.5% of annual turnover for issuers of significant asset-referenced tokens and 10% for issuers of significant e-money tokens. The consultation paper also allows fines of up to twice the profits earned from a violation, where applicable.

The proposal forms part of the enforcement framework for MiCA, which introduced a single regulatory regime for digital assets across the European Union. The regulation requires token issuers and crypto asset service providers to meet licensing, capital, consumer protection, and compliance requirements before operating across the bloc.

The EBA added that the proposed framework will establish a consistent process for calculating penalties across the European Union. As per the consultation paper, the methodology aims to ensure supervisory authorities apply financial sanctions in a uniform manner once the rules take effect.

July 1 licensing deadline approaches

The EBA released the consultation days before the July 1 MiCA licensing deadline, when crypto firms must obtain authorization from a national regulator to continue offering services or marketing stablecoins throughout the European Union.

Firms that fail to secure authorization could face enforcement action if they continue operating without approval or commit violations covered by the proposed penalty framework, including unauthorized public disclosures and organizational compliance failures.

The consultation period will remain open until Sept. 28, allowing industry participants to submit feedback before the EBA finalizes the methodology.

Binance has already begun restricting parts of its European business after failing to obtain MiCA authorization before the deadline. As previously reported, the exchange withdrew its MiCA application in Greece and has stated that it intends to seek approval through another European Union member state.

Exchange notices shared by users on social media confirmed that Binance will stop onboarding new European Union customers and limit selected services for existing users from July 1. The company also informed customers that digital assets will remain available for withdrawal after the restrictions take effect.

As uses moved out of Binance, Coinbase, OKX, and some other exchanges have responded by promoting their MiCA authorized operations to European customers. For instance, Coinbase launched a campaign across several European markets offering a 5% transfer bonus for eligible users who move assets before July 13, while OKX introduced welcome rewards and deposit matching of up to 8% for qualifying users in the European Economic Area.

BitMEX, the troubled cryptocurrency exchange reportedly looking for a buyer, has cleared out its executive team, removing chief executive Stephan Lutz, chief financial officer Ina Steiner, and chief growth officer Raphael Polansky, CoinDesk has learned.

The firm’s former global general counsel and chief operating officer, Peter Wilkinson, has taken over as CEO. The moves were highlighted in recent postings on LinkedIn.

Wilkinson, Lutz, Steiner and Polansky did not immediately respond to requests for comment.

Crypto exchange and derivatives trading platform BitMEX was co-founded in 2014 by Arthur Hayes, Ben Delo and Samuel Reed. In 2020, BitMEX was alleged to have failed to implement adequate anti-money laundering measures in place, and later pleaded guilty to the charges. Hayes, Delo and Reed resigned shortly after the U.S. brought criminal charges.

BitMEX is presumably looking to streamline its costs and appear more attractive to prospective buyers, as an ongoing depression in digital asset prices weights on the crypto industry.

It was during the last crypto downturn in 2022 that Lutz took over as CEO from Alexander Hoeptner, who became CEO in early 2021, when Hayes and his co-founders stepped down.

The latest crypto winter has prompted numerous crypto and tech firms to shed staff.

Key Takeaways

• YoungHoon Kim, holder of the world’s highest verified IQ score (276), declared that the XRP Supercycle has only just commenced
• Three concurrent indicators have emerged: TD Sequential “9” buy formation, Morning Star Doji reversal pattern, and dramatic spike in daily active addresses
• XRP Ledger daily active addresses surged from approximately 23,000 to nearly 39,500 within a two-week period
• Kim’s earlier forecast projects XRP reaching $5–$10 during this market cycle; achieving $10 would represent a 646%+ increase from current levels
• Single-day XRP ETF inflows reached $11.88 million in May, contributing to cumulative 2026 net inflows of approximately $1.42 billion

XRP currently trades around $1.05 following a convergence of technical indicators and a prominent market prediction that has refocused attention on the digital asset. A trio of signals has materialized simultaneously, capturing interest from traders monitoring both price charts and blockchain metrics.

YoungHoon Kim, who holds the verified world record for highest IQ score at 276, announced on X that the XRP Supercycle is merely in its initial phase. The statement rapidly circulated throughout cryptocurrency forums and rekindled debate surrounding XRP’s potential long-term valuation.

Kim had earlier established a price projection between $5 and $10 for XRP during this market cycle. From present levels around $1.05, ascending to $5 would necessitate approximately a 376% appreciation. Climbing to $10 would translate to roughly an 852% surge.

Not all market participants embrace Kim’s perspective. Multiple X users challenged his viewpoint, highlighting that his earlier XRP forecasts failed to materialize. Additional critics questioned both his authority and the foundation supporting his $10 projection.

XRP remains approximately 67% below its July 2025 all-time peak of $3.66. That substantial distance renders the higher boundary of Kim’s target an ambitious objective from current trading levels.

Convergence of Three Technical Indicators

Market analyst Ali Charts identified that the Tom DeMark Sequential indicator generated a “9” buy formation on XRP’s daily timeframe. This signal typically emerges near downtrend exhaustion points and may precede brief price rebounds spanning one to four trading sessions.

A Morning Star Doji reversal formation also materialized over three consecutive sessions within the $1.02 to $1.07 support range. This candlestick configuration suggests a possible near-term price floor.

The third indicator originates from blockchain data. Daily active addresses on the XRP Ledger climbed from approximately 23,000 on June 14 to nearly 39,500 recently, indicating genuine network engagement beyond purely speculative trading.

Market analyst ChartNerdTA observed that XRP’s cyclical peaks have traditionally occurred at three to five-year intervals. Should a cycle trough establish during 2026, the subsequent potential peak might materialize between 2028 and 2030.

Investment Product Flows and Market Metrics

XRP’s total market capitalization continues exceeding $65 billion, per CoinGecko data. Institutional appetite has remained consistent, with XRP-linked ETF products attracting $11.88 million during a single trading session on May 29.

Aggregate net inflows into XRP investment vehicles achieved approximately $1.42 billion throughout 2026, representing the most robust ETF capital influx period the token has experienced to date.

For near-term upward momentum confirmation, market analysts indicate XRP requires persistent buying pressure and a decisive breach above the $1.30 resistance threshold.

Loopring has announced the immediate closure of its decentralized exchange and automated market maker after concluding that years of limited adoption, business shortcomings, and technological competition left the project without a sustainable future.

Loopring disclosed the decision in a post on X on Sunday, confirming that all trading services have stopped and the protocol’s relayer has ceased operating. The team attributed the shutdown to three factors: weak user adoption, limited business development capabilities, and competition from newer zkEVM based Ethereum scaling networks.