Crypto World
Gillibrand August Vote on Crypto Market Structure Signals Regulation
US Senator Kirsten Gillibrand indicated at the Consensus conference in Miami that the fate of the digital asset market structure bill hinges on lawmakers meeting three practical conditions before the Senate can consider a vote. Speaking on the record, she identified consumer protection, illicit finance controls, and ethics provisions as essential elements that must be addressed prior to any action on the CLARITY Act. She suggested that if Congress can merge the market structure framework with the version already advanced by the Senate Agriculture Committee and attach robust ethics language, a vote could occur before the August recess that begins on August 10.
“There will be no one voting for this bill if we don’t have an ethics provision,” Gillibrand said, underscoring that integrity standards are non-negotiable in a landscape where public officials’ involvement in the industry could raise conflicts of interest. “Because the truth is, we cannot allow members of Congress, senior administration officials, presidents or vice presidents, to get rich off of these industries because of their insider status. It is the worst form of pay for play.”
While Gillibrand did not name specific individuals, the remarks come amid renewed scrutiny of ties between public figures and crypto ventures. The broader political debate surrounds the CLARITY Act as lawmakers weigh how to regulate a fast-evolving sector, including stablecoins, DeFi platforms, and tokenized equities, within a cohesive federal framework.
Beyond the ethics question, the evolving policy conversation has touched the linkage between regulatory risk and industry structure. Last week, senators on the Senate Banking Committee announced a deal on stablecoin yield issues that could help move the market structure legislation forward, although the agreement did not address language on potential conflicts of interest among public officials. The development signals that it is possible to find bipartisan consensus on certain technical elements while leaving other concerns to future negotiations.
In the broader policy discourse, industry voices have pressed for timely progress. Ripple CEO Brad Garlinghouse pointed to a narrow window for legislators to address the bill before it becomes entangled in electoral-year dynamics, a sentiment echoed by other executives who argue that delay raises uncertainty for infrastructure planning, product launches, and institutional compliance programs.
From the regulatory side, former Commodity Futures Trading Commission commissioner and Blockchain Association chief executive Summer Mersinger described the current moment as a critical juncture—the window to act could open briefly, and if missed, there is no guarantee it will reappear in the same form. Her remarks highlighted the practical implication for compliance teams and legal professionals who must map to evolving standards and potential licensing regimes.
Key takeaways
- The CLARITY Act’s path to a Senate vote depends on three conditions: consumer protection, illicit finance safeguards, and ethics provisions.
- Lawmakers aim to merge the market structure bill with the Agriculture Committee version and attach ethics language, with possible action before the August recess.
- Ethics provisions are framed as essential to prevent conflicts of interest and pay-for-play risks in crypto policymaking.
- Recent discussions on stablecoin yield could facilitate movement on the bill, though work remains on public official conflicts language.
- Industry voices view the timing as delicate: act now to avoid entrenchment during the midterm cycle and potential political headwinds.
Legislative status and the regulatory backdrop
The market structure bill, which seeks to establish a comprehensive federal framework for digital assets, has become a focal point of regulatory policy debates in Washington. As of the week described, the Senate Banking Committee had not yet rescheduled a markup after postponing it earlier in the year. The postponement followed public criticism from some industry participants who argued that the bill, in its current form, may unduly constrain innovation in areas such as decentralized finance, stablecoins, and tokenized equities.
Coinciding with legislative momentum, industry leaders have stressed the need for precise and enforceable rules that align with existing financial oversight while safeguarding innovation. The stance from Coinbase’s leadership earlier this year, which signaled reservations about certain provisions, illustrates the sensitivity around DeFi and crypto token classifications. In this context, the ethics language Gillibrand emphasized would address concerns about potential corruption risks in the legislative process and strengthen the bill’s legitimacy from a governance perspective.
On the regulatory horizon, the interplay with cross-border and domestic regimes remains a strategic consideration. In the European Union, MiCA represents a parallel trend toward centralized regulatory clarity for crypto assets and stablecoins, influencing how U.S. policymakers think about licensing, supervision, and market integrity. Although the CLARITY Act is a U.S.-centric initiative, its design and potential impact will be evaluated against international practice, especially in areas related to consumer protection, AML/KYC requirements, and orderly markets.
In public commentary, industry participants have flagged specific policy areas requiring careful calibration. Regulatory and enforcement considerations—ranging from disclosures and fiduciary duties to anti-money laundering controls and executive ethics requirements—shape what compliance teams must prepare for. The need for robust governance language is underscored by discussions about conflicts of interest and the integrity of public decision-making when it touches crypto markets.
Timing, signals, and practical implications for institutions
Timely action on the market structure bill matters for exchanges, banks, and institutional investors that seek clear, predictable rules for custody, settlement, and product structuring. A stable policy framework can reduce the risk of ad hoc enforcement actions and provide a stable basis for licensing, risk management, and operational compliance. The recent stablecoin yield discussions—though not sealing language on conflicts of interest—underscore efforts to resolve key technical issues that affect product design, liquidity management, and capital treatment for regulated entities interacting with crypto assets.
From a market perspective, traders and risk managers have tracked predictions about the bill’s prospects. Prediction-market platforms reflect divergent expectations: one platform assigns a higher probability to passage by year-end, while another assigns a more immediate likelihood of action within the August window. These signals influence how institutions calibrate internal roadmaps for product launches, governance reviews, and regulatory reporting.
Industry advocates argue that progress on the CLARITY Act could harmonize U.S. oversight with evolving international standards, reducing fragmentation across markets and jurisdictions. The emphasis on consumer protection, illicit finance controls, and ethics aligns with a growing consensus that credible crypto regulation must balance innovation with oversight, a balance that institutions require to manage risk, ensure compliance, and preserve customer trust.
Enforcement, compliance, and policy implications
Legal and compliance teams should monitor the potential alignment between the CLARITY Act and broader enforcement priorities. The proposed ethics provisions would likely shape internal governance policies, whistleblower channels, and disclosures related to political contributions, corporate sponsorships, and senior leadership ties to the industry. For banks and regulated intermediaries, the framework could inform licensing expectations, disclosure regimes, and risk-based AML/KYC programs tailored to crypto assets.
lawmakers are also weighing how to articulate standards for consumer protection—ranging from product disclosures to protections against misrepresentation and fraudulent schemes. The delicate balance between enabling new financial products and safeguarding consumers will influence how firms structure disclosures, marketing materials, and relationship-based risk controls. The discussion also intersects with anti-money laundering and countering the financing of terrorism regimes, where clarity in definitions, reporting obligations, and enforcement mechanisms matters for integration with existing financial compliance ecosystems.
On the enforcement front, the CLARITY Act would potentially interact with actions by the SEC, the CFTC, and the DOJ as agencies delineate jurisdictional boundaries and supervisory expectations. Institutions would need to map regulatory requirements across agencies, ensuring that liquidity management, custody, and trading activities align with the evolving standard for crypto assets and digital securities. The outcome could also influence cross-border operations, especially for firms with global exposures and interconnected stablecoin initiatives.
Closing perspective
As policymakers continue to refine the bill, the central questions revolve around how to reconcile innovation, investor protection, and governance integrity within a coherent legal framework. The window for consensus appears to be narrowing as the August recess approaches and midterm dynamics intensify. Observers should watch for developments on the ethical governance provisions, the final alignment of the House and Senate market structure texts, and any forthcoming language on conflicts of interest that could determine whether the CLARITY Act advances in its current form. In practice, the outcome will influence not only regulatory clarity for crypto markets but also the risk and compliance posture of a broad set of financial institutions engaging with digital assets.
Michael Saylor addressed Strategy’s sale of 32 BTC on stage at BTC Prague on Thursday. He told the audience the transaction does not change the company’s long-term Bitcoin (BTC) thesis.
The executive chairman faced questions because he has urged investors for years to never sell their bitcoin. A small treasury transaction turned that slogan against him this week.
Why Strategy Sold 32 BTC for the First Time Since 2022
Strategy sold 32 BTC between May 26 and May 31 for roughly $2.5 million. That works out to an average of $77,135 per coin, slightly above its $75,699 cost basis.
A June 1 filing with the SEC disclosed the transaction. MSTR shares fell about 6% afterward, and the company’s first bitcoin sale since December 2022 dominated the conversation. The disclosure even triggered a $15 million dispute on Polymarket over contract settlement.
The proceeds will fund distributions on Strategy’s preferred stock. The board declared June 30 cash dividends across all five preferred series, a recurring obligation tied to the firm’s capital structure.
The sale covered about 0.004% of Strategy’s 843,706 BTC, a stack worth roughly $62 billion. Still, the company had already slowed accumulation. It paused buying before earnings in the spring and recently skipped its weekly purchase altogether.
Saylor Speaks Out on His Never Sell Bitcoin Advice
Speaking in Prague on June 11, Saylor confronted the apparent contradiction head-on.
“I said to you never sell your bitcoin.”
Saylor said at BTC Prague, in a video shared by Alex Bragin.
Here is the answer on stage of @BTCPrague why Michael @saylor sold 32 BTC pic.twitter.com/5vGM0P9Rwh
— Alex Bragin (@BraginRights) June 11, 2026
He explained that the advice targeted individual investors, while the corporate sale served a specific financial obligation. In his framing, the company practiced normal treasury management rather than an exit from bitcoin.
He also brushed off the online trolls mocking the sale. In his view, it would be dumb for a company to rule out selling regardless of its obligations.
He stressed that liquidity needs drove the decision, not a bearish view on bitcoin’s future. The sale’s size supports that reading, since $2.5 million barely registers against a $62 billion position.
Saylor once urged followers to sell a kidney before parting with their bitcoin. Those earlier absolutist posts sharpened criticism once the filing appeared.
Skeptics remain unconvinced. Some analysts argue the episode adds to mounting pressure on MSTR as the stock trades below recent highs. Meanwhile, bitcoin traded near $63,400 on Friday, up 1.4% over 24 hours.
The next test arrives on June 30, when the preferred dividends fall due. Investors will watch whether Strategy funds future distributions from new capital or reaches into its bitcoin reserve again.
The post ‘I Said to YOU Never Sell Your Bitcoin’: Saylor Speaks Out on 32 BTC Sale appeared first on BeInCrypto.
The Avalanche Treasury Company saw a rocky start as it debuted on Nasdaq under the ticker AVAT on Thursday, with shares dropping 16% by the end of the day.
The new company gained access to the Nasdaq after merging with special-purpose acquisition company (SPAC) Mountain Lake Acquisition in a $675 million deal first announced in October.
The company, with support from institutional backers including Dragonfly, Pantera, ParaFi Capital, VanEck, Galaxy Digital and Kraken, aims to give investors exposure to the Avalanche blockchain ecosystem without holding the cryptocurrency.
Bart Smith, Avalanche Treasury CEO and former Susquehanna executive, said Thursday that it wasn’t a bet on price, but an investment that “represents meaningful potential for the repositioning of institutional finance.”
Avalanche launched in 2020 with proof-of-stake consensus, high throughput and a multi-chain architecture. Today, more than 550 projects are building in the ecosystem, with more than $1 billion in institutional funds deployed and more than $1.65 billion in real-world assets tokenized on the network.
Tough first day trading for AVAT
AVAT shares fell 16% from their open at $2.20, ending the day at $1.85, according to Google Finance. This has been a typical pattern for crypto company initial public offerings, especially in a bear market.
Related: SpaceX IPO nears 4 times oversubscribed, squeezing crypto and tech
AVAX saw a small 3.4% gain on the day, but the asset has lost 33% over the past 30 days and remains down 95% from its November 2021 all-time high. It is currently trading at its lowest level since early 2021, at $6.61, according to TradingView.
Altcoins have been crushed in 2026, and AVAX is at a five-year low. Source: TradingView
DATs are having a rough ride
Avalanche is the latest crypto ecosystem to launch a publicly listed company, but it comes amid a difficult time for crypto treasury firms.
The weekly net flow of BTC into digital asset treasuries has declined to around $266 million this week, following weekly highs of over $2 billion in April and May, according to Coinglass.
The world’s largest BTC treasury, Strategy, has seen its stock value tumble 69% over the past 12 months as the Bitcoin bear market deepens.
Bitmine Immersion Technologies pivoted from BTC mining to an Ethereum treasury in mid-2025. Its shares (BMNR) saw explosive growth, reaching an all-time high of $135 in July that year, but have since tanked by 88% to $16.50 a year later.
SOL Strategies Inc., a Solana-focused DAT, began trading in September 2025 under STKE, but share prices have also collapsed by 92% over the past 12 months.
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Crypto exchange Coinbase has launched a tool that allows artificial intelligence agents to make payments and trade crypto on behalf of users, as crypto companies look to ride a wave of interest in AI.
Coinbase said Thursday that it is launching Coinbase for Agents, which will allow AI models like ChatGPT and Claude to connect with a user’s exchange account and be prompted to make trades or execute strategies.
AI agents can also make payments using Coinbase’s AI payments protocol x402, allowing the bots to pay for data services to gather information for carrying out trading strategies without human intervention.
Crypto companies have been positioning the technology as a means to support the high-frequency microtransactions that agents typically carry out. AI agents have grown in popularity with the release of better models, with more traders trusting them to autonomously execute trading strategies.
Coinbase said the tool is available via both a model context protocol (MCP), allowing AI models to connect with a user account, and a command-line interface for developers.
Source: Coinbase
The company said it also introduced Coinbase Advisor, an AI agent integrated into its app that it says is a US Securities and Exchange Commission and Commodity Futures Trading Commission-registered financial adviser that can give guidance on trades.
Coinbase said the tool could help users manage their crypto “without the constant manual oversight” and can undertake tasks like allocating funds to reward programs or making recurring buys.
“Imagine you want to dollar-cost average into ETH at the optimal time of day. Just tell your agent your target and timeframe. It can pull 30 days of hourly price data to identify when ETH historically trades lowest, set a recurring $20 market buy at that time, and schedule it to run daily for the next two weeks,” the company explained.
While many companies are pitching for investors to start using AI, a study published last month found that users of AI agents are losing money, and the agents themselves may not really be working alone.
Researchers at Pantera Capital, Stanford University, Ava Labs and the Initiative for Cryptocurrencies and Contracts studied over 925,000 token holders and found that agent treasuries made gains of $30 million on paper, while their token holders collectively lost $191.7 million.
It also found that many of the projects it studied “do not yet provide clear evidence of autonomous trade execution” with a “substantial share” of projects being “basic API integrations.”
Related: AI agents with crypto could escape and become ‘unstoppable,’ experts warn
Coinbase is the latest to bet that AI agents will interact with and transact across multiple services.
Stablecoin issuer Circle last month launched tools letting AI agents use wallets, discover services and make programmable payments with its token. Circle CEO Jeremy Allaire has predicted that billions of AI agents will use stablecoins within five years.
Earlier this month, the stablecoin and wallet infrastructure provider Crossmint launched a service that enabled AI agents to make payments using eligible Visa credit and debit cards.
Crypto investment firm Keyrock said in a report in May that AI agents had quickly created a “developed ecosystem,” and had settled $73 million across 176 million transactions between May 2025 and April 2026.
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South Korean tech giant LG Electronics is working with the Ethereum layer-2 network Arbitrum to build a blockchain-based advertising network aimed at serving the digital ad industry.
Arbitrum would give advertisers and publishers a shared database of ad inventory and track how customers interact with advertisements, with the company exploring how to bring the service to market this year, Fortune reported on Thursday.
“We are evaluating whether this approach can deliver meaningful value to advertisers, publishers and audiences,” said Samuel Byungsun Park, the head of LG Electronics’ blockchain research lab.
LG Group’s headquarters is in Seoul, South Korea. Source: Seoul Institute
Digital ad spend is estimated to have reached $679 billion in 2025, making up 68% of worldwide ad spend, according to global advertising giant Dentsu.
Traditional ad networks require costly intermediaries to automate and manage the buying and selling of ad space between advertisers and publishers.
A blockchain-based ad network would cut out intermediaries, aiming to make ad buys more efficient and provide transparency to advertisers about who their ads have reached.
“It means that you can basically run the market in an automated way in software,” Arbitrum co-founder Steven Goldfeder told Fortune. “You don’t need manual intervention.”
The price of Arbitrum (ARB) gained 5.44% on Thursday on news of the new layer-2 blockchain, which Arbitrum confirmed on X.
Cointelegraph contacted Arbitrum and LG Electronics for comment.
Related: Citi launches blockchain marketplace for private companies’ shares: Report
LG has been exploring opportunities in crypto for nearly a decade.
In 2018, LG CNS, a subsidiary of the LG Corporation, launched an in-house blockchain called “Monachain” aimed at businesses that could be used for digital authentication, payments and supply chain management.
LG Electronics developed a decentralized crypto wallet called Wallypto using the Hedera Hashgraph network at the height of the 2022 NFT boom. It served as a companion wallet for the LG Art Lab, an NFT platform that allowed users to display digital artwork on their TVs.
The NFT platform was shut down in June 2025, adding to a wave of NFT marketplace closures that year, while LG Electronics terminated Wallypto a few months later in September.
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TLDR
- Avalanche Treasury debuted on Nasdaq under ticker AVAT.
- AVAT closed down 38.1% at $1.85.
- The listing followed a $675 million SPAC merger.
- AVAX rose 1.27% to trade at $6.66.
- The firm plans to acquire over $1 billion in AVAX.
Avalanche Treasury Co. dropped sharply on its first day as a public company after completing a $675 million SPAC merger. The AVAX-focused treasury firm closed down 38.1% at $1.85 after debuting on Nasdaq under the ticker AVAT. Despite the decline, the stock gained 2.7% in after-hours trading as the company outlined plans to expand its presence across the Avalanche ecosystem.
Shares Slide Despite Avalanche Growth Strategy
According to the company, Avalanche Treasury intends to support long-term development across the Avalanche network. The firm said it will deploy capital into ecosystem investments, validator infrastructure, and enterprise partnerships. Executives described the strategy as a way to increase participation in blockchain infrastructure. The company also said the listing offers investors exposure to Avalanche-related growth opportunities. Nasdaq trading began on Thursday following completion of the merger transaction.
Chief executive Bart Smith outlined the company’s investment approach in a public statement. “AVAT intends to deploy capital deliberately to compound Avalanche’s ecosystem value over time,” Smith said. He added that the strategy resembles a corporate treasury model focused on ecosystem expansion. Smith said the company views Avalanche as a platform for institutional finance development. The firm plans to allocate capital across several areas of the network.
While AVAT shares declined, the underlying Avalanche token recorded modest gains. AVAX rose 1.27% during the past 24 hours and traded at $6.66. However, the token remained down 33.7% over the previous month. The stock and token moved in different directions during the company’s first session. Market activity followed the completion of the public listing.
Merger Created Large AVAX Acquisition Platform
As it was reported by Blockonomi earlier, Avalanche Treasury first announced its merger agreement with Mountain Lake Acquisition Corp. in October 2025. The transaction included projected treasury funding of $460 million. It also provided an initial discounted AVAX allocation worth $200 million through the Avalanche Foundation. Company executives said the structure supports future capital deployment plans. The merger officially closed before trading began this week.
The company previously stated its intention to acquire more than $1 billion worth of AVAX. Beyond token accumulation, management plans to support ecosystem infrastructure projects. Future investments may include enterprise integrations and protocol-level initiatives. The firm said these efforts are intended to strengthen Avalanche adoption. Capital allocation decisions will focus on opportunities within the network.
According to company data, Avalanche has attracted more than $1.02 billion in institutional funds. The network has also facilitated over $1.65 billion in tokenized real-world assets. Avalanche Treasury said more than 550 projects currently operate across the ecosystem. Those figures formed part of the company’s public market pitch. Management cited them when discussing future growth opportunities.
Wall Street And Crypto Veterans Back The Firm
Avalanche Treasury’s leadership team combines experience from traditional finance and digital assets. Smith spent more than two decades at Susquehanna and AllianceBernstein before joining the company. Chief operating officer Laine Litman previously helped scale Hidden Road Partners. Hidden Road later became part of Ripple through an acquisition. The company said those backgrounds support its institutional strategy.
The firm’s advisory and board network includes several blockchain industry figures. Ava Labs founder Emin Gün Sirer participates alongside Dragonfly partner Rob Hadick. Other advisors include Blockworks chief executive Jason Yanowitz and Aave founder Stani Kulechov. The company said these individuals contribute industry expertise and strategic guidance. Their involvement spans both blockchain and traditional finance sectors.
Avalanche Treasury has also secured backing from multiple financial and crypto firms. Supporters include Dragonfly, ParaFi Capital, VanEck, FalconX, Galaxy Digital, Pantera Capital, and Kraken. Hadick said Avalanche has become a preferred blockchain platform for enterprise use cases. He added that a public treasury vehicle could provide institutions with a new entry point. Avalanche Treasury joins other AVAX-focused treasury firms, including AVAX One Technology Ltd.
Binance Wallet’s SpaceX IPO campaign attracted about $557 million in subscription funds, showing strong onchain demand for tokenized exposure to the planned listing.
Summary
- Binance Wallet’s SpaceX IPO campaign drew about $557 million from 27,689 onchain addresses, Dune data showed.
- Smaller subscriptions dominated address count, but larger wallets provided most funds committed to the campaign.
- The campaign offers tokenized SpaceX exposure through SPCXx, but final allocations are not guaranteed.
Binance Wallet campaign draws $557M
Dune data showed that Binance Wallet’s SpaceX IPO subscription campaign attracted about $557 million from 27,689 addresses. The figures show strong demand for SPCXx, a tokenized security product tied to SpaceX’s potential IPO.
The campaign allows eligible users to submit subscription applications through Binance Wallet. The product is linked to xStocks and gives users a chance to receive SpaceX tokenized securities after issuance.
Binance listed 135 USDC as the indicative price per token, excluding fees. The campaign also carries a 5% underwriting fee and uses USDC as the supported subscription token.
The campaign does not promise final allocation. “Submitting a subscription application only represents an expression of subscription interest and does not guarantee that the application will receive an allocation of SPCXx,” Binance said.
Large wallets supply most funds
The Dune data showed that addresses contributing $20,000 or less made up 81.48% of participants. However, those smaller wallets accounted for only 18.39% of total subscription funds.
Addresses contributing more than $20,000 and up to $100,000 made up 16.69% of participants. This group supplied 57.67% of total funds, making it the largest source of capital in the campaign.
A smaller number of larger wallets also played a clear role. A total of 114 addresses contributed $500,000 or more, representing 10.23% of total funds.
The split shows broad address participation, but capital remained concentrated among bigger subscribers. That pattern is common in high-demand tokenized offerings, where smaller users raise participation numbers while larger wallets drive funding totals.
Tokenized SpaceX demand keeps rising
Binance said SPCXx is the first project under its Wallet IPO Campaign. The company said the campaign aims to connect traditional capital markets with onchain financial markets.
Users who receive final allocations will get SPCXx tokens after issuance is completed. Binance said the token is designed to offer exposure to price performance related to the SpaceX IPO.
The product does not represent direct ownership of SpaceX shares. Binance said holders do not receive voting rights, dividend rights, or other shareholder rights tied to normal equity ownership.
As previously reported by crypto.news, Binance recently expanded its tokenized stock lineup while teasing a future SpaceX-linked product. The exchange added tokenized products tied to Circle, Nvidia, Tesla, Micron, and Sandisk as demand for onchain stock exposure increased.
SpaceX IPO draws crypto market attention
SpaceX’s planned listing has become a major focus across crypto markets. Traders have also used pre-IPO perpetual contracts and other tokenized products to gain price exposure before a public listing.
SpaceX’s planned IPO has drawn heavy investor demand, raising questions about whether the listing could pull capital from digital assets, as previously reported. The offering has also driven activity across crypto exchanges offering SpaceX-linked products.
The Binance Wallet subscription data adds another measure of that demand. It shows that tokenized IPO products are drawing both small wallet participation and large capital commitments.
The next focus will be final allocation, token distribution, and how much committed USDC converts into SPCXx tokens. Binance has said the final offering price will be determined after the subscription period ends.
Blockchain is no longer just a story of Wall Street banks and brokers leveraging the technology to optimize finance. Now, corporates are embracing distributed ledger to streamline business operations.
LG Electronics, the South Korean consumer electronics giant spanning TVs, laptops, and home appliances, with annual global revenue of over $60 billion, is building a blockchain-based advertising network and has chosen Arbitrum to help build it out.
LG told Fortune it has developed its own layer-2 blockchain network in collaboration with Arbitrum, a layer 2 protocol that enables low-cost, high-speed transactions on Ethereum.
LG’s move is part of a broader trend of corporations seeing operational potential in blockchain technology. Walmart has used the technology to transform food safety and reduce the time needed to trace a product through its supply chain to just 2.2 seconds, down from over six days. IBM has built blockchain-based supply chain solutions, while Microsoft has integrated blockchain into its Azure cloud platform for enterprise applications.
HashKey Holdings Limited approved a share repurchase plan of up to HK$100 million as its Hong Kong-listed stock rebounded after recent pressure.
Summary
- HashKey approved a HK$100 million buyback using company funds, excluding global offering proceeds from repurchases.
- The buyback runs until the next AGM, with timing and price left to board discretion.
- HashKey shares rose 10.51% to HK$3.05 after trading near their 52-week low recently.
HashKey clears HK$100M buyback plan
HashKey Holdings Limited, listed under stock code 3887, said its board approved an on-market share repurchase plan after the mandate passed at its annual general meeting on June 11, 2026. The company plans to use up to HK$100 million of its own funds for the buyback.
The company said the funds will not include proceeds from its global offering. The repurchase period will run from the approval date until the end of the next annual general meeting.
HashKey said the buyback will follow Hong Kong Stock Exchange listing rules, the Takeovers Code, share buyback rules, Cayman Islands company law, and other rules that apply to the company. The board will decide the timing, size, and price of any repurchases based on market conditions.
The company also warned that the plan does not guarantee that shares will be bought back. It said the board will keep discretion over whether to carry out any repurchases.
Shares rebound after recent pressure
HashKey shares rose 10.51% to HK$3.05 in the latest trading data. The stock had recently traded near its 52-week low, adding attention to the company’s decision to approve a repurchase plan.
The stock’s latest move followed a weak period for the shares. Recent market data showed HashKey had declined sharply year-to-date before the rebound, while the stock also fell over the past week.
The buyback comes as the company tries to show confidence in its listed shares. “We believe that the current value of the Company’s shares does not fully reflect the Group’s strategic positioning and growth potential in the Web3 digital financial infrastructure space,” said Chairman and Chief Executive Officer Dr. Xiao Feng.
The company said it will fund the buyback from internal resources. That detail is important because it separates the repurchase plan from proceeds raised through the global offering.
Web3 expansion adds context
HashKey is one of Asia’s listed digital asset companies. Its business covers digital asset trading, technology services, investment management, on-chain services, and financial infrastructure.
As previously reported by crypto.news, HashKey launched its Hong Kong IPO with a targeted raise of up to $215 million. The company’s listing came as Hong Kong continued to expand its regulated digital asset market.
HashKey has also remained active after listing. Its asset management arm led a $40 million investment in SignalPlus, a crypto derivatives trading platform, with HashKey Group contributing $20 million in cash.
The group also signed a memorandum of understanding with Oceanus Group to develop stablecoin settlement infrastructure for global trade finance. The partnership targets digital settlement tools for cross-border commerce and trade finance.
Buyback follows Hong Kong crypto push
HashKey’s buyback comes during a wider shift in Hong Kong’s digital asset market. Local regulators have continued to expand rules for licensed crypto platforms, tokenized assets, and stablecoin activity.
As previously reported by crypto.news, Hong Kong has moved to widen crypto licensing and stablecoin rules as part of its 2026-27 financial policy agenda. The city has also supported work around tokenized bonds and regulated digital asset infrastructure.
For HashKey, the buyback places focus on both share performance and capital use. The company must now decide whether market conditions support actual repurchases under the approved mandate.
The plan gives the board room to act while keeping control over timing and price. Investors will watch whether HashKey uses the mandate, and how the stock reacts after its latest rebound.
The risk-off mood that hammered crypto all week is reversing. Bitcoin is back in the green, and the trigger was a sudden de-escalation in the Iran war.
Bitcoin traded at $63,550 on Friday, up 1.6% on the day and 1.4% over the week, per CoinDesk data. Days earlier it had fallen to levels last seen in 2024 – below $60,000 – but has recovered and climbed back to a weekly gain.
A key catalyst came as President Donald Trump said the US was close to a deal with Iran and that he had “ended the war with Iran today.” Markets read it as the end of a conflict that has whipsawed prices for more than 100 days. Brent crude dropped 2% to about $88.50 a barrel, while gold and silver prices surged.
The move extended to stocks. South Korea’s Kospi, a gauge for AI stocks, rose 8.4%. MSCI’s Asia Pacific index gained 3.5%, its biggest rise in two months. US stock futures pointed higher and European shares were set to open up 1.8%.
Ethereum has bounced back after falling near the $1,500 support level, but the broader market trend for the leading crypto asset remains bearish.
In fact, ETH could still see further downside as an important on-chain metric is gearing up to revisit historically significant territory.
Bottom Signal
Crypto analyst Ali Martinez said Ethereum’s Delta Price metric, created by Alphractal, has successfully identified the last two major ETH market bottoms. The indicator is currently positioned near $700 and measures the relationship between investor cost basis and miner production costs.
According to Martinez, if previous market patterns repeat, Ethereum risks falling toward the $700 range again before beginning its next upward trend.
Despite rising negative sentiment around the asset’s recent price performance, Ethereum’s network growth has continued to accelerate. Data shared by Santiment revealed that the blockchain now has nearly 195 million non-empty wallets, around 230% more than Bitcoin’s 59 million wallets.
According to the analytics platform, the gap between the two networks has steadily expanded across multiple market cycles even as the crowd sentiment fell into extreme fear territory. Ethereum is now only about 5 million wallets away from reaching the 200 million milestone.
Santiment attributed much of the network’s growth to Ethereum’s strong presence in DeFi, staking, and broader on-chain activity, where users actively engage with applications instead of only holding tokens.
ETH OI On Binance
Meanwhile, derivatives market activity around Ethereum has also started showing signs of recovery. While Ethereum recently entered deeply oversold territory, some traders have viewed this as an opportunity and started increasing their exposure to the asset through futures markets. CryptoQuant observed that Binance recently recorded a new all-time high in Ethereum open interest measured in ETH terms, with nearly 3.7 million ETH currently tied to futures contracts on the exchange.
As a result, Binance now accounts for more than 44% of total Ethereum open interest. Meanwhile, Binance’s weekly average Taker Buy/Sell Ratio climbed from 0.95 to 1.0, which indicates that traders are gradually moving back toward buying activity after months of stronger selling pressure in Ethereum futures markets.
The post Ethereum (ETH) Could Crash to This Level Before Next Bull Run, Says Analyst appeared first on CryptoPotato.
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