Cryptocurrencies Archives | Page 46 of 165

Bitcoin slides as Trump issues Tehran evacuation warning

Bitcoin prices slumped on Monday evening as geopolitical tensions in the Middle East worsened. The drop followed Trump’s early G7 exit and reported return to Washington for an emergency White House meeting.

The crypto market reacted quickly to the heightened uncertainty. Bitcoin dropped by over $2,000, falling from an intraday high of $108,780 to around $106,421. Ethereum suffered a steeper decline of nearly 5 per cent, while other leading altcoins shed between 5 and 6 per cent.

According to CoinGlass, roughly $400 million in leveraged positions were liquidated, and overall crypto market capitalisation fell by around $80 billion.

The sell-off followed reports of escalating violence in the region. Embassies, including those of China and Russia, have urged their nationals to leave Israel immediately, citing worsening security conditions, civilian casualties and damage to infrastructure.

The Chinese embassy recommended departure via land borders, while Russia’s ambassador called for all citizens to leave without delay.

Cryptocurrency markets, already volatile since early May, remain highly sensitive to global political risks. Although Bitcoin is still trading above $100,000, further instability could prompt deeper losses if tensions continue to escalate.

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Crypto scandal sparks no-confidence vote in Czech Parliament

The Czech government faced pressure as Parliament debated a no-confidence motion over a scandal tied to a Bitcoin donation. The Justice Ministry sold a crypto donation worth nearly 1 billion koruna ($47 million), triggering outrage over the donor’s criminal record for drug offences.

Justice Minister Pavel Blazek resigned in May, stating he wanted to avoid further damage to the coalition. Prime Minister Petr Fiala accepted his resignation and praised him for acting responsibly.

Eva Decroix, also from the Civic Democratic Party, took over the post and announced an independent investigation into the ministry’s donation handling.

Opposition leaders, including Andrej Babis of the ANO movement, accused the government of possibly laundering money. The organised crime unit is investigating, but the origin and reason for the Bitcoin donation remain unclear.

The four-party coalition still holds a majority, making it unlikely that the no-confidence motion will succeed. However, the affair arrives just months before crucial elections in October, with polls predicting a win for Babis.

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Japanese firms increase Bitcoin holdings

Three prominent Japanese companies have recently increased their Bitcoin reserves, signalling growing institutional adoption in the country’s corporate sector. Remixpoint added 56.8 BTC, pushing its total holdings to over 1,000 Bitcoin.

The firm’s latest purchase, worth approximately $5.6 million, reflects a bullish outlook consistent with its earlier crypto investments.

Video game developer Gumi made a notable entry into the cryptocurrency market with a $6.3 million Bitcoin acquisition. The move forms part of a strategic effort to diversify its strong cash flow from gaming into digital assets.

Similarly, fashion company ANAP Holdings acquired 50.56 BTC as part of a plan to hold more than 1,000 Bitcoin by August 2025, drawing parallels to other major corporate crypto treasury strategies.

These purchases underscore Japan’s emerging role as a key player in the global crypto landscape. Factors such as a weakening yen, low real interest rates, and supportive regulatory frameworks have encouraged traditional firms to view Bitcoin as a valuable portfolio diversifier.

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Latin America leads growth in crypto remittances this year

Cryptocurrency remittances in Latin America have surged by over 40% in 2024, reflecting a rapid shift towards digital currencies in cross-border money transfers. Rising stablecoin use, a trusted dollar proxy, drives growth amid economic challenges and currency controls in the region.

Crypto ATMs, which eliminate intermediaries and provide physical points of access, have bolstered adoption. Countries such as Mexico, Puerto Rico, Panama, Colombia, and Argentina are leading this growth, supported by thousands of crypto ATM locations.

However, El Salvador has seen a drop in remittance volumes, partly due to the winding down of the government-backed Chivo Wallet and changes in the public sector’s bitcoin operations.

Despite regulatory resistance in some areas, including Brazil’s debate over stablecoin withdrawal restrictions, crypto remittances are expected to keep rising.

The convenience and cost advantages of cryptocurrency over traditional methods continue to attract users, pointing to further expansion in the coming years.

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Coinbase sounds alarm on corporate Bitcoin hoarding

Coinbase has raised concerns over the growing number of listed companies allocating significant funds to Bitcoin reserves. In its latest market outlook, the exchange warned that while the trend may appear bullish in the short term, it introduces potential systemic risks to the wider crypto sector.

Following changes to accounting standards last December, firms are now permitted to report unrealised gains from crypto assets. The shift has sparked a surge in demand, with 126 public companies currently holding over 819,000 BTC—valued at more than $87 billion.

Many of these companies have used debt financing, often via convertible bonds, to build their Bitcoin positions.

Coinbase cautioned that a downturn in Bitcoin’s price could trigger widespread selling, as companies attempt to repay creditors. Such a scenario could lead to market-wide liquidations and sharp instability, well before any actual defaults occur.

Despite this warning, Coinbase remains confident in Bitcoin’s long-term trajectory.

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Vietnam legalises crypto under new digital technology law

Vietnam has officially legalised crypto assets as part of a landmark digital technology law passed by the National Assembly on 14 June. Set to take effect on 1 January 2026, the law creates a regulatory framework classifying digital assets as virtual or crypto assets.

Neither category includes securities or digital fiat currencies. The government will now develop specific business rules and oversight mechanisms while enforcing cybersecurity and anti-money laundering standards to meet international expectations.

The new law also highlights Vietnam’s ambition to become a leader in digital technology innovation. It offers extensive incentives for enterprises in artificial intelligence, semiconductor manufacturing, and digital infrastructure.

Vietnam’s authorities have recently taken action against significant crypto scams. In February 2025, police arrested four people behind a fraudulent mining platform, which defrauded over 200 victims.

In December 2024, Hanoi police stopped a scam involving the fake Quantum Financial System cryptocurrency, which had stolen over $1 million. These efforts demonstrate Vietnam’s commitment to protecting investors and strengthening the digital asset ecosystem.

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Quantum computing threatens Bitcoin: Experts debate timeline

Recent breakthroughs in quantum computing have revived fears about the long-term security of Bitcoin (BTC).

With IBM aiming to release the first fault-tolerant quantum computer, the IBM Quantum Starling, by 2029, experts are increasingly concerned that such advancements could undermine Bitcoin’s cryptographic backbone.

Bitcoin currently relies on elliptic curve cryptography (ECC) and the SHA-256 hashing algorithm to secure wallets and transactions. However, both are potentially vulnerable to Shor’s algorithm, which a sufficiently powerful quantum computer could exploit.

Google quantum researcher Craig Gidney warned in May 2025 that quantum resources required to break RSA encryption had been significantly overestimated. Although Bitcoin uses ECC, not RSA, Gidney’s research hinted at a threat window between 2030 and 2035 for crypto systems.

Opinions on the timeline vary. Adam Back, Blockstream CEO and early Bitcoin advocate, believes a quantum threat is still at least two decades away. However, he admitted that future progress could force users to migrate coins to quantum-safe wallets—potentially even Satoshi Nakamoto’s dormant holdings.

Others are more alarmed. David Carvalho, CEO of Naoris Protocol, claimed in a June 2025 op-ed that Bitcoin could be cracked within five years, pointing to emerging technologies like Microsoft’s Majorana chip. He estimated that nearly 30% of BTC is stored in quantum-vulnerable addresses.

‘Just one breach could destroy trust in the entire ecosystem,’ Carvalho warned, noting that BlackRock has already acknowledged the quantum risk in its Bitcoin ETF filings.

Echoing this urgency, billionaire investor Chamath Palihapitiya said in late 2024 that SHA-256 could be broken within two to five years if companies scale quantum chips like Google’s 105-qubit Willow. He urged the crypto industry to start updating encryption protocols before it’s too late.

While truly fault-tolerant quantum machines capable of breaking Bitcoin are not yet available, the accelerating pace of research suggests that preparing for a quantum future is no longer optional—it’s a necessity.

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Amazon and Walmart consider digital dollar tokens

Retail powerhouses Amazon and Walmart are reportedly examining the launch of their dollar-backed stablecoins. As per sources cited by the Wall Street Journal, the move could significantly cut transaction costs, streamline payments, and strengthen their hold on digital commerce.

The interest comes amid a broader industry shift. Tech leaders Apple, Google, Airbnb, and social platform X are exploring stablecoins. The aim is to reduce payment fees and improve international transactions.

X, led by Elon Musk, is pushing to integrate stablecoins into its X Money app, while Airbnb is negotiating to bypass card networks through partnerships with processors like Worldpay.

The GENIUS Act, a proposed law to regulate stablecoins in the United States, is scheduled for a final Senate vote on 17 June. The legislation requires stablecoins to be fully backed and mandates audits for major issuers.

If approved, it could set the tone for global corporate adoption.

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Trump’s financial report reveals major crypto and property income

Donald Trump’s latest financial disclosure reveals substantial cryptocurrency and real estate earnings. The US President declared $57.35 million in income from token sales tied to World Liberty Financial, alongside holdings of over 15 billion governance tokens in the same venture.

The filing, signed on 13 June, does not specify its coverage period but appears to reflect finances through December 2024. The timing suggests that more recent profits from the Trump family’s crypto activities were not included.

Beyond digital assets, the report shows Trump’s income remains heavily reliant on property holdings. His Florida resorts and Mar-a-Lago private club brought in over $217 million, while a development licence in Vietnam added $5 million.

A significant portion of Trump’s paper wealth remains linked to his stake in Trump Media & Technology Group, the parent company of Truth Social.

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Bitcoin price climbs as Google searches drop

Bitcoin has surged to around $107,000, close to its all-time high, yet global search interest has dropped to a five-year low. While past price jumps were matched by public curiosity, current data suggests a notable lack of retail attention.

Analysts believe the trend reflects a shift in how Bitcoin is perceived. No longer a fringe phenomenon, the cryptocurrency has matured into a mainstream asset.

Institutional investors, ETFs, and even governments are now the driving force behind Bitcoin’s momentum, with companies such as Ark Invest and Metaplanet continuing to increase their holdings.

Bitwise CEO Hunter Horsley noted the rally appears quieter because corporate players are accumulating Bitcoin strategically, unlike the hype-fuelled surges of previous cycles. Meanwhile, retail interest may be shifting to flashier sectors such as AI tokens and memecoins.

Falling search traffic may signal that Bitcoin has entered a more stable phase. Rather than trending online, it is now being treated as a serious long-term investment — a possible sign of growing market maturity.

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