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Updated CLARITY Act text will merge committee versions while lawmakers negotiate unresolved crypto policy provisions.
Ethics rules and non-custodial developer protections remain unresolved ahead of the expected Senate floor vote.
Supporters target passage before August recess, but limited Senate time keeps the bill's prospects uncertain.
The U.S. Senate returned this week with about four weeks before the August recess to decide the Clarity Act's future. According to journalist Eleanor Terrett, updated legislative text is expected as negotiations continue on unresolved provisions. White House Crypto Council Executive Director Patrick Witt, President Donald Trump, and lawmakers remain central to the effort as supporters seek enough votes before lawmakers leave Washington.
https://twitter.com/EleanorTerrett/status/2076682564878618701?s=20
Updated Bill Text Draws Close Attention
According to Eleanor Terrett, Witt described this as a "critical week" for the Clarity Act while marking one year since the GENIUS Act became law. He said lawmakers had already invested significant time into the legislation. He also urged Congress not to delay the process any longer.
Attention now shifts to updated bill text expected this week. The revision combines versions approved by the Senate Banking Committee and Senate Agriculture Committee. Industry participants want to see which negotiated provisions remain and which issues still require changes before a Senate vote.
Even with the revised draft approaching, several negotiations remain unfinished. One unresolved issue involves the Blockchain Regulatory Certainty Act. The proposal would clarify that non-custodial software developers should not qualify as money transmitters simply for publishing code.
However, it remains unclear whether senators will keep the Banking Committee's language. Lawmakers could instead revise it following concerns raised by law enforcement groups.
Ethics Talks Continue Before Senate Vote
Negotiators also continue discussing ethics provisions tied to government officials' crypto interests. According to Crypto In America, sources said the White House and lawmakers have not reached an agreement.
Several Democrats and Senator Thom Tillis continue seeking additional safeguards after President Trump's financial disclosure reported more than $1 billion in crypto-related income last year. At the same time, the recent death of Senator Lindsey Graham and Mitch McConnell's continued absence reduced Republicans' margin for error.
Supporters And Skeptics Watch Deadline
President Trump separately urged the Senate to pass the Clarity Act in honor of Senator Lindsey Graham. He also argued that China and other countries continue competing in financial technology and artificial intelligence.
Meanwhile, industry views remain divided. Solana Policy Institute President Kristin Smith told Crypto In America she believes negotiations continue moving toward a floor vote before the August recess.
However, Galaxy Digital Head of Research Alex Thorn maintained a more cautious position. He recently lowered his estimated passage odds to 50%, citing limited legislative time and Senate attention shifting toward the National Defense Authorization Act.
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XRP Ledger payments expanded from $68 million to over $5 billion within 17 months, reflecting sustained network activity growth.
Binance also led the market in open interest, volume and number of trades in futures during the most recent reporting period.
XRP faced intraday selling pressure after an early rally, while broader network usage continued drawing market attention.
XRP Momentum remains in focus as expanding ledger activity and active derivatives markets continue attracting attention, even as traders monitor shifting short-term technical conditions across the broader ecosystem.
Ledger Payments Drive Long-Term Network Narrative
John Squire shifted attention toward XRP Ledger payment activity through a recent social media post. The discussion centered on operational growth instead of short-term market performance. That approach emphasized blockchain usage across financial transactions.
Source: X
According to the shared figures, XRP Ledger payments increased from $68 million previously. Payment volume now exceeds $5 billion after only seventeen months. The reported increase represents approximately seventy-five times previous activity.
The accompanying visual reinforces that message through strong upward market symbolism. A rising green trajectory surrounds the XRP logo throughout the graphic. The imagery reflects continued expansion across the payment network.
Network usage remains an important indicator beyond daily trading fluctuations. Higher payment volumes often accompany broader ecosystem participation over time. That trend continues drawing attention across digital asset markets.
Derivatives Markets Maintain Broad Liquidity
XRP futures activity remains distributed across several major cryptocurrency exchanges worldwide. Binance continues leading the market through multiple trading indicators. Other platforms also maintain meaningful participation levels.
Source: Coinglass
Open interest data places Binance near $426.42 million in outstanding futures contracts. KuCoin follows with approximately $372.48 million recorded during the period. Bitget ranks third with roughly $316.23 million.
Trading volume rankings also favor Binance with nearly $357.49 million processed daily. Bybit secured second position while OKX followed closely behind. Those figures reflect competitive liquidity across major trading venues.
Trade count statistics reveal another layer of market participation. Binance had a total of over 456,000 transactions on XRP futures. LBank, meanwhile, was second, which was driven by retail activity.
Price Action Turns Lower After Early Advance
The trading session opened with constructive momentum before buyers strengthened control. Higher highs and higher lows developed throughout the morning period. That advance eventually carried XRP above important intraday resistance.
Momentum weakened during the afternoon as sellers regained market control. A sharp decline erased earlier gains within a relatively short period. The reversal changed the session's technical structure.
XRP as of the time of writing,traded at $1.08, down 1.58% over the previous 24 hours. Market capitalization stood near $68.06 billion during the observed session. The volume of trades also fell by over 20% per day.
The failed recovery left sellers controlling the closing stages of trading. Even so, broader network activity remained the dominant long-term narrative. John Squire's update continued emphasizing payment growth instead of temporary market weakness.
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Bitcoin holds above the 200-week moving average as traders monitor July and August for sustained market direction and renewed momentum.
Despite recent consolidation, futures open interest has stayed high, which is indicative of ongoing trading at the main derivatives exchanges.
CME leads Bitcoin futures open interest, while Binance dominates trading volume and futures trade activity across global exchanges.
Bitcoin Market Outlook is keeping a close eye on the reversion of the flagship cryptocurrency to a key long-term support level. Market participants are also closely watching levels of futures positioning leading up to the
Bitcoin Defends a Historic Technical Level
Bitcoin has just broken back above its 200-week moving average following its last correction. The long-term indicator has repeatedly served as major support during previous bear markets. Recent price action returned attention to this widely monitored technical benchmark.
A post from Shahnawaz (@BigDott50) described the recovery as an encouraging development. The post noted that only the 2022 crypto market collapse produced a meaningful break below the moving average. Previous cycles generally respected the level before broader recoveries emerged.
Source: X
The chart also recalls Bitcoin's activity during the recent market crash of 2018. It indicates that buyers have regained control at a price that is above the long term average. This was the same after the market sell-off in 2020 due to the COVID-19 outbreak.
BTC is as of the time of writing, trading at $63,977.66, which is at the bottom of a $57,000 cycle low. The cryptocurrency has been trading 0.22% higher over the past 24 hours.
Futures Positioning Remains Elevated
Bitcoin futures open interest increased during the ongoing rally, alongside the previous one, as revealed by the CoinGlass data. As of June 7, 2024, the Bitcoin price was near $69,393 with open interest of $36.95 billion.Open interest subsequently rose to close in on $90 billion as prices went to cycle highs.
Recent market conditions present a different picture. Bitcoin has pulled back from its peak levels, but total open interest is quite high historically. That combination reflects continued leveraged participation despite ongoing price consolidation.
Exchange data identifies where futures exposure remains concentrated. CME leads with approximately $8.96 billion in Bitcoin futures open interest. Binance follows with $6.40 billion, while Bybit and Gate.io each hold more than $4 billion.
The concentration of open positions across leading exchanges remains notable. Large derivatives venues continue attracting institutional and retail participation. Market participants continue monitoring whether leverage gradually declines or expands further.
July and August Stay in Market Focus
Trading volumes also are focused on a few large exchanges. Binance had $9.14 billion in Bitcoin futures trading volume. CME processed some $3.35 billion while OKX processed about $4.09 billion.
Binance also led futures trade count by a wide margin. The exchange processed more than 3.12 million futures trades during the reporting period. That figure exceeded activity across every competing platform.
Shahnawaz stated that maintaining support above the 200-week moving average remains essential. The post identified July and August as potentially important months. Market players are watching if it is a defensible level for buyers on the long-term time frame.
Past performance is not a guarantee of future results. Bitcoin has previously recovered after successfully defending the same moving average. Traders now continue watching price behavior alongside futures positioning for additional confirmation.
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Analyst Ali Charts said Solana's SuperTrend indicator turned bullish after SOL moved above $78, signaling a potential trend reversal.
Exchange withdrawals and rising network activity supported the bullish outlook by reducing immediate selling pressure.
The $79 to $85 range remains major resistance, while a break below $74 could invalidate the current buy signal.
Solana has generated a fresh bullish technical signal, according to analyst Ali Charts, as improving on-chain activity supports the trend change. The analyst said the SuperTrend indicator turned positive after SOL moved above $78 on June 30, while exchange withdrawals and rising network activity strengthened the bullish setup despite a major resistance zone ahead.
SuperTrend Turns Bullish as Network Activity Grows
According to Ali Charts, the three-day SuperTrend indicator shifted to a buy signal after Solana climbed above $78. The indicator marked its first bullish reversal since the previous sell signal. Meanwhile, on-chain data also showed stronger network participation.
Ali Charts reported that Solana has averaged 8.4 million new addresses every week. The analyst also noted that about 1.6 million new addresses joined the network over three weeks. According to the analysis, that increase coincided with improving market conditions.
Exchange Outflows Support Accumulation Case
Alongside network growth, exchange balances also declined. According to Ali Charts, investors withdrew around 1.5 million SOL from exchanges between June 24 and July 3.
The analyst said those withdrawals suggest more investors moved tokens into self-custody instead of leaving them available for sale. As a result, immediate selling pressure appeared to ease.
A separate update also referenced roughly 100 million SOL leaving exchange reserves between July 3 and July 11. According to the analysis, lower exchange balances aligned with the improving technical outlook.
Resistance and Support Levels Remain Critical
Despite the bullish indicators, Ali Charts identified a major supply barrier between $79 and $85. According to the URPD data, roughly 105 million SOL previously changed hands within that range.
The analyst said a breakout above $85 could clear the path toward the next supply zones at $100 and $127. However, that resistance remains the key hurdle for buyers.
On the downside, Ali Charts said losing the $74 level could reverse the SuperTrend back to bearish. According to the analysis, that move would invalidate the current buy signal.
The analyst added that a bearish reversal could expose Solana to the next major URPD support level near $53.
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Success in trading largely depends on the ability to assess the financial market situation in a timely manner and quickly execute a chosen strategy. To achieve strong results, it is essential to have access to high-quality information, user-friendly tools, and a modern platform that enables confident action at the right moment. Deon Markets offers precisely this suite of capabilities.
The company provides clients with everything necessary to make profitable trading decisions promptly and execute them exactly when the most promising opportunities for maximising profit arise. A combination of analytical support, learning materials, a feature-rich platform, and a well-designed interface creates a comfortable environment for navigating financial markets.
Decision-Making Process
Sound preparation is the foundation of successful trading. Deon Markets helps clients form their own perspective on market conditions through a wide range of informational resources. This fosters a better understanding of how financial markets operate and allows traders to gradually refine their own strategies.
Great emphasis is placed on learning materials. These resources help users master key concepts, understand the nuances of different financial instruments, and gain knowledge that can be easily applied in day-to-day trading. The structured presentation of information enables users to confidently expand their skills and unlock new opportunities for growth.
Analytical support serves as an additional advantage. Deon Markets clients receive data that helps them make a reasoned assessment of the ongoing market dynamics. Such information assists in creating more accurate forecasts, identifying promising trading avenues, and spotting opportune moments to open positions.
Recommendations from the company’s specialists are particularly valuable. The Deon Markets team possesses extensive experience in the financial industry and shares well-founded advice based on comprehensive market analysis.
Executing Decisions
Once a strategy has been selected, the ease of its practical implementation becomes crucial. Deon Markets offers a modern platform that ensures high-speed trade processing and stable performance across various market conditions. This enables users to execute their ideas in a timely manner.
For added convenience, the platform includes tools for managing positions. These help Deon Markets customers define parameters in advance, maintain their chosen strategy, and confidently control the trading process. Such functionality brings greater organisation to daily operations, allowing users to focus more on identifying new, promising opportunities. This fosters confidence in executing trading decisions and ensures a smooth, comfortable workflow.
Service Convenience
An important advantage of Deon Markets is the platform's versatility. It is available on various devices, allowing users to choose the working format that best suits their habits and lifestyle. The platform features a logical interface and intuitive navigation. Key functions are arranged sequentially, facilitating a quick learning curve and a comfortable customer experience. This design is equally well-suited for novice traders and experienced professionals alike.
Another advantage is the harmonious blend of functionality and ease of use. Every element is designed to create a comfortable working environment where essential tools are readily available to help clients quickly accomplish their tasks.
Final words
Deon Markets brings together all the key components necessary for success in the financial markets. Learning materials help expand knowledge and hone skills, analytical support facilitates the formulation of well-founded forecasts, and expert recommendations provide professional insight to inform the decision-making process.
The modern platform ensures the stable execution of strategies, while trade management tools help maintain the chosen approach. Universal device compatibility, a user-friendly interface, and high stability ensure a seamless experience for customers of all skill levels. Thus, Deon Markets equips clients with everything needed to make and execute profitable trading decisions at the optimal moment for maximum gain, creating an effective environment for confident and successful performance in the financial markets.
Disclaimer: Any information written in this press release does not constitute investment advice. Crypto Front News does not, and will not endorse any information about any company or individual on this page. Readers are encouraged to do their own research and base any actions on their own findings, not on any content written in this press release. Crypto Front News is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release. For more details, visit our disclaimer page.
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Tom Lee said Ethereum is significantly undervalued relative to its long-term role in tokenized finance and digital markets.
He argued Ethereum could achieve a network valuation between $1 trillion and $5 trillion over the next few years.
Lee said tokenization, stablecoins, institutional adoption, and decentralization remain Ethereum's key long-term growth drivers.
Ethereum's current valuation does not reflect its long-term role in digital finance, according to Fundstrat's Tom Lee. Speaking on the New Era Finance Podcast on July 7, 2026, Lee said Ethereum's roughly $300 billion network value is "grossly undervalued" because he expects tokenized assets, stablecoins, and digitized financial markets to increasingly operate on blockchain infrastructure led by Ethereum.
Tom Lee Sees Larger Role for Ethereum
According to Tom Lee, Ethereum remains far below its potential despite its position as the second-largest cryptocurrency network. He compared Bitcoin's valuation of more than $1 trillion with Ethereum's market value near $300 billion.
Lee also contrasted both networks with traditional asset classes. He noted gold stands near $22 trillion, while global equities exceed $100 trillion and real estate approaches $300 trillion.
He argued those assets will require blockchain infrastructure as markets become tokenized and programmable. According to Lee, Ethereum will support much of that transition alongside other blockchain networks.
Land Comparison Shapes Ethereum Thesis
Lee compared Ethereum's economic role to land rather than a productive business. He said land gains value because everything built upon it depends on its location. Using that comparison, Lee argued Ethereum serves as the digital foundation where financial activity can occur.
Therefore, he said Ethereum should appreciate as more assets move onto blockchain networks. Tom Lee also pointed to stablecoins as another example. He said stablecoins require an underlying blockchain layer, identifying Ethereum as that foundation.
According to Lee, Ethereum could reasonably reach a network valuation between $1 trillion and $5 trillion within the next few years.
Long-Term Drivers Remain Intact
Lee said investors have focused too heavily on Ethereum's recent price performance instead of its broader fundamentals. He identified decentralization, institutional adoption, and tokenization as the network's primary long-term drivers.
He also said Wall Street's financial infrastructure can operate on blockchain technology over time. According to Lee, that supports Ethereum's long-term role within digital finance.
Lee connected those comments with his earlier Bitcoin outlook. Previously, he said Bitcoin could eventually reach $2 million if its network value matched gold's. He also said neither the Bitcoin nor Ethereum investment thesis has broken despite recent market performance.
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SBI plans to offer a 3% annual yield on JPYSC stablecoins for users who lock their holdings for three months.
The lending product follows the launch of Japan's first trust bank-backed yen stablecoin under the JPYSC framework.
SBI continues expanding its digital asset business through investments, acquisitions, and blockchain finance initiatives.
SBI Holdings is preparing to expand its digital asset business with a lending service offering a 3% annual yield on JPYSC stablecoins, according to Nikkei. The reported product could launch through SBI VC Trade as early as this month, allowing users to lock their holdings for three months while earning a fixed return, weeks after the financial group introduced Japan's first trust bank-backed yen stablecoin.
JPYSC Lending Product Builds on Stablecoin Launch
According to Nikkei, the planned lending service would require customers to hold JPYSC for three months. In return, participants would receive a fixed annual yield of 3%. The reported product follows the recent launch of JPYSC by SBI Shinsei Trust Bank.
The stablecoin operates under Japan's trust bank framework and maintains a one-to-one backing with the Japanese yen. SBI Holdings and Startale Group first announced JPYSC in February. Notably, the stablecoin falls under Japan's Type III electronic payment instrument framework.
SBI previously said JPYSC was designed to reduce transaction costs and support large-value transfers. The company also said the stablecoin serves both retail and institutional users through SBI VC Trade.
SBI Continues Broader Digital Asset Expansion
Meanwhile, SBI has continued investing across the digital asset industry. Recently, it became the sole investor in Gauntlet's $125 million Series C funding round.
The company also backed EDX Markets with a $76 million investment. In addition, SBI completed its acquisition of Japanese cryptocurrency exchange Bitbank for about $289 million.
Earlier this year, SBI also acquired a controlling stake in Singapore-based Coinhako. Furthermore, it invested in Digital Asset, Morpho, and Circle's Arc blockchain token presale.
According to company officials, those investments support SBI's goal of building an end-to-end onchain finance ecosystem covering payments, exchanges, tokenization, custody, and digital asset management.
Japan's Stablecoin Market Continues To Grow
At the same time, stablecoin adoption continues expanding across Japan. According to a separate Nikkei report, convenience store operator Lawson has started testing JPYC payments at one store.
Japan's three largest banking groups, MUFG, SMBC, and Mizuho, also announced plans to begin commercial transactions using a jointly issued stablecoin during fiscal year 2026.
Meanwhile, analysts said Japan's growing cryptocurrency regulations could encourage additional digital asset investment. Proposed reforms would classify crypto assets as financial instruments, support exchange-traded funds, and reduce capital gains tax from 55% to 20%.
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Fidelity said Bitcoin is approaching long-term support, with its power law model identifying $56,500 as a possible downside target.
The firm noted current market conditions resemble past accumulation phases following major Bitcoin bear markets.
Fidelity said institutional demand remains mixed despite recent spot Bitcoin ETF inflows ending an eight-week withdrawal streak.
Fidelity Investments believes Bitcoin may be entering an accumulation phase despite ongoing market weakness. Jurrien Timmer, Fidelity's director of global macro, said the cryptocurrency is approaching a key support level, while the firm's power law model identifies about $56,500 as a possible downside target if another pullback occurs.
Fidelity Points to Historical Support
According to Timmer, Bitcoin has moved closer to its long-term power law support after falling toward the $60,000 range. He said the current setup resembles previous accumulation periods that followed major market declines.
Fidelity's model shows Bitcoin trading about 56% below its median power law trend. According to the research, similar deviations appeared during the 2018 and 2022 bear markets. The report also noted that Bitcoin's 52-week Bitcoin-to-gold Z-score has dropped near negative 100%.
Historically, comparable readings coincided with periods of market exhaustion. However, Timmer stopped short of calling a definitive market bottom. Instead, he said another decline toward approximately $56,500 remains possible before prices stabilize.
Macro Conditions Remain a Challenge
While the technical model identifies long-term support, Fidelity noted that broader market conditions remain challenging. According to Timmer, slower global money supply growth has reduced speculative demand for Bitcoin.
He also said capital previously invested in Bitcoin rotated into gold before shifting toward semiconductor stocks. As a result, Bitcoin currently lacks a clear catalyst for a sustained recovery.
Meanwhile, Fidelity's analysis stated that higher bond yields and expectations for delayed interest rate cuts continue weighing on risk assets.
ETF Flows Show Mixed Picture
Alongside the technical outlook, institutional fund flows presented mixed signals. U.S. spot Bitcoin exchange-traded funds recorded net inflows of $197.4 million during the latest week, ending an eight-week streak of withdrawals.
BlackRock's iShares Bitcoin Trust attracted most of the new capital. However, the Fidelity Wise Origin Bitcoin Fund, Grayscale Bitcoin Trust, and ARK 21Shares Bitcoin ETF each reported net outflows.
According to the analysis, Bitcoin remains near a historically significant support area. However, Fidelity indicated that sustained demand, rather than technical levels alone, will determine the next market direction.
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ABU DHABI, UAE, July 13, 2026 /PRNewswire/ -- Aurra Markets, a global multi-asset CFD brokerage, concluded its diamond sponsorship and participation at Money Expo Abu Dhabi 2026. Held at the ADNEC Centre from the 8th to the 9th of July, the financial exhibition served as a primary platform for the broker to connect directly with retail traders, institutional partners, and financial leaders across the Middle East and North Africa (MENA) region.
Showcasing Institutional-Grade Liquidity at Money Expo
In a digital financial landscape, Aurra Markets continues to prioritize face-to-face engagement. The broker's presence at Booth 33 highlighted its focus on clear communication between traders and their brokerage provider. By facilitating transparent interactions, the Aurra Markets team provided attendees with factual data regarding its institutional-grade liquidity and low-latency trading infrastructure. Establishing a physical presence remains a core part of the company's operations, allowing the executive team to understand complex client needs and support a stable trading environment.
Expanding the Aurra Markets Affiliate and Refer a Friend Partnership Programmes
A core focus of the two-day exhibition was the expansion of the Aurra Markets Partnership Programmes. Engaging with financial professionals, the executive team detailed the operational framework of both the Refer a Friend initiative and the Aurra Affiliate Programme. These programmes provide partners with dedicated account support, transparent real-time reporting, and structured CPA and rebate models. By lowering operational barriers for prospective partners, Aurra Markets is building a collaborative network that supports sustained mutual growth.
Live Demonstrations of the Aurra Wallet
The event featured live demonstrations of the Aurra Wallet. This unified funding system bridges fiat and digital assets, allowing clients to manage deposits and withdrawals efficiently. Integrating this technology reduces banking delays and provides faster market access.
Aurra Markets 2026: Continued Global Expansion
The strong engagement at ADNEC supports the brokerage's strategic vision for continued expansion across key global financial hubs. By maintaining a physical presence in the MENA region, Aurra Markets plans to scale its operations and trading services to support a growing base of international clients.
About Aurra Markets
Aurra Global Markets Limited is authorized and regulated by the Mauritius Financial Services Commission (FSC) under License No. GB25204837. Aurra Markets provides a global community of traders with the direct infrastructure and technical resources needed to operate in dynamic financial markets. For more information, visit www.aurra.markets.
Disclaimer: Any information written in this press release does not constitute investment advice. Crypto Front News does not, and will not endorse any information about any company or individual on this page. Readers are encouraged to do their own research and base any actions on their own findings, not on any content written in this press release. Crypto Front News is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release. For more details, visit our disclaimer page.
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American Bitcoin's stock has dropped over 95% from its peak, erasing more than $600 million from Eric Trump's stake.
The company completed a 1-for-15 reverse stock split but continued facing heavy selling pressure on Nasdaq.
Despite the share decline, American Bitcoin increased its treasury to more than 8,000 BTC and reduced mining costs.
American Bitcoin, the Bitcoin mining company co-founded by Eric Trump, has lost more than 95% of its market value from its peak, according to Bloomberg. Over the past 10 months, the decline erased more than $600 million from the value of Trump's roughly 6% stake, while the company continued expanding its Bitcoin holdings and completed a reverse stock split to maintain its Nasdaq listing.
https://twitter.com/WuBlockchain/status/2076494017903362487?s=20
Reverse Split Fails to Slow Decline
The company reached a record low on Wednesday after months of sustained selling pressure. American Bitcoin closed at $6.13 on July 10, the latest available market close. Earlier, the company completed a 1-for-15 reverse stock split after trading ended on July 2.
Split-adjusted trading began on July 6 under the same Nasdaq ticker. The move reduced outstanding shares from about 1.09 billion to roughly 73 million. However, according to Bloomberg, the stock remains more than 95% below its peak on a split-adjusted basis.
Shareholders approved the reverse split during the company's June annual meeting. American Bitcoin used the measure to satisfy Nasdaq's minimum bid-price requirement.
Bitcoin Holdings Continue to Expand
Despite the stock decline, American Bitcoin continued increasing its Bitcoin treasury. The company added another 500 BTC on Monday, lifting total holdings above 8,000 BTC.
According to company updates, the Bitcoin reserve has more than tripled since its Nasdaq debut. Management also said its satoshis-per-share metric nearly tripled during that period.
Eric Trump previously described the company's operating model as "virtually unmatched." The company combines Bitcoin mining with direct Bitcoin purchases while retaining mined coins instead of selling them for operating expenses.
First-Quarter Loss Driven by Bitcoin Charge
The latest financial results showed a $118.2 million operating loss during the first quarter of 2026. The figure included a $117.2 million non-cash impairment tied to lower Bitcoin valuations.
American Bitcoin also reported an $81.8 million net loss and $62.1 million in mining revenue. During the quarter, Bitcoin declined about 22%.
Chief executive Mike Ho said the underlying mining business remained profitable after excluding the accounting adjustment. The company mined 817 BTC during the quarter and lowered production costs to $36,200 per Bitcoin from $46,900 in the previous quarter.
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Jeremy Allaire's “The Agentic Economy” explores how AI agents and blockchain networks could reshape finance and economic activity.
Allaire said the project reflects decades of work on open internet protocols, programmable money, and decentralized networks.
The treatise is available in multiple formats, including a full text, audiobook, visual diagrams, and concise summaries.
Circle CEO Jeremy Allaire has released a personal work titled “The Agentic Economy,” outlining his long-term vision for how artificial intelligence and blockchain networks could reshape economic activity. According to Allaire, the project presents the convergence of AI agents and on-chain finance, offering readers multiple formats to explore the ideas, although no release date was specified.
https://twitter.com/jerallaire/status/2076439830519791723?s=20
Allaire Outlines Long-term Economic Thesis
According to Allaire, the work builds on ideas he has developed over several decades while creating internet infrastructure and leading Circle. He said the project expands two beliefs that guided the company's founding.
First, Allaire argued that money can move across open protocols just as information moves across the internet. Second, he described blockchains as network computers where autonomous software can store value, exchange assets, and coordinate economic activity without direct human involvement.
He added that advances in artificial intelligence allowed him to extend those concepts further. As a result, the treatise examines how software, finance, labor, ownership, and economic organization could increasingly intersect through programmable networks.
AI Played a Supporting Role
Allaire also explained how he developed the project. According to him, he worked through dozens of sessions, using voice conversations to refine each section before assembling the complete work.
He said more than 100 specialized AI agents assisted with research, editing, design, engineering, diagrams, and fact-checking. However, Allaire stressed that he used AI as a tool rather than an author.
According to him, the ideas, editorial decisions, and final judgments remained entirely his own. He acknowledged that some sections remain less polished than others but chose not to remove every imperfection.
Project Released in Multiple Formats
To broaden accessibility, Allaire released the project in several formats rather than as a single document. Readers can access a 60-second summary, a short version, the complete treatise, an audiobook, visual diagrams, and concept maps.
According to Allaire, every format draws from the same written source to maintain consistency. He added that the project demonstrates how one person can coordinate many specialized AI systems while directing a single body of work.
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Ethena reclaimed key intraday levels as buyers maintained higher highs and higher lows throughout the latest trading session.
Rising trading volume and healthy liquidity accompanied ENA's recovery, supporting continued market participation.
The $0.0800 area remains an important support as traders monitor resistance near the latest session highs.
Ethena Price Outlook remains in focus after ENA extended its recovery with a steady intraday advance. Market participants continue monitoring technical levels as buying activity strengthens across short-term trading sessions.
ENA Extends Its Short-Term Recovery
Crypto Candy (@cryptocandy24x) described ENA as "getting started" in a recent market update. The accompanying Binance chart reflected steady bullish momentum rather than a rapid price spike. Buyers consistently defended pullbacks throughout the one-hour timeframe.
Source: X
The chart displayed a clear sequence of higher highs and higher lows. That structure often reflects sustained buying instead of temporary speculation. Selling pressure remained limited during each minor retracement.
Several bullish candles closed close to their session highs. Upper wicks remained relatively small across the advance. That pattern suggested sellers struggled to reverse the prevailing momentum.
The latest move carried ENA toward the intraday high near $0.0829. Price briefly paused beneath that resistance level. Traders now watch whether buyers attempt another breakout.
Market Activity Supports the Advance
ENA as of the time of writing, traded at $0.08169 during the latest CoinMarketCap update. The token posted a 3.3% gain over the previous 24 hours. Binance data also showed ENA reaching $0.0828 during active trading.
Earlier weakness pushed ENA below the $0.0792 reference level. Sellers briefly drove prices toward the $0.0775 region. Buyers quickly regained control before losses expanded further.
Momentum strengthened after ENA reclaimed the $0.0792 area. The recovery continued above the psychological $0.0800 level. Buyers then carried the token toward fresh intraday highs.
The advance developed through measured price swings instead of sharp vertical moves. Each pullback attracted renewed buying interest. That pattern preserved the developing bullish market structure.
Support and Resistance Shape the Next Move
Trading activity remained healthy throughout the recovery session. Approximately 146.81 million ENA changed hands on Binance during 24 hours. TThis was about 11.71 million USDT in trading value.
According to CoinMarketCap, the market cap is about $781 million. The trading volume was 24 hours at approximately $127.46 million. The volume grew by over 18% over the period.
The project also reported a fully diluted valuation of $1.22 billion. Total value locked stood near $4.31 billion. Circulating supply measured approximately 9.56 billion ENA out of a 15 billion maximum supply.
Technical attention now centers on nearby resistance and established support. The $0.0800 level remains an important area after the recent breakout. A sustained move above $0.0829 would preserve the existing sequence of higher highs and higher lows while keeping short-term momentum intact.
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PEPE approaches a major demand zone while traders await confirmed bullish reversal signals before considering fresh long positions.
Futures data shows easing leverage, with declining open interest and volume despite buyers maintaining a modest directional advantage.
Short liquidations continue exceeding long liquidations, reflecting cautious bullish momentum without excessive speculative positioning.
PEPE Outlook remains focused on a pivotal support region as technical structure and derivatives positioning suggest buyers retain an opportunity to regain short-term momentum.
Technical Structure Centers on a Key Demand Zone
Finora AI shared a one-hour PEPE chart outlining the current technical landscape. The analysis emphasized patience before considering fresh long exposure. Price continues consolidating after an earlier impulsive breakout.
Source: X
The rally followed an extended accumulation period at lower trading levels. Strong buying pressure carried PEPE through multiple resistance zones quickly. Momentum later slowed after reaching an upper resistance area.
The chart now reflects consolidation instead of outright trend weakness. Price continues respecting several established horizontal support and resistance levels. Those repeated reactions suggest liquidity continues building inside the range.
Finora AI identified 0.00000259–0.00000256 as the primary demand zone. Buyers require convincing reversal confirmation before entering new positions. Bullish engulfing candles or similar structures remain preferred entry signals.
Recovery Scenario Depends on Market Confirmation
The analysis also outlines a more conservative trading approach. Price may briefly sweep below 0.00000255 before recovering rapidly. Such a movement could remove weak positions while trapping fresh sellers.
A swift reclaim above the demand zone would strengthen the bullish setup. That recovery would suggest buyers successfully absorbed available selling pressure. Market structure would then favor renewed upside attempts.
The first upside objective stands near 0.00000265 following successful confirmation. Additional momentum could extend toward 0.00000276 afterward. There is also good continuity that could back partial gains around 0.00000281.There's also solid continuity that can back partial gains near 0.00000281.
Bearish conditions only begin when there is prolonged weakness below 0.00000255 Failure to recover support changes the technical outlook completely. Lower downside objectives then shift toward 0.00000248 and 0.00000244.
Derivatives Data Shows Restrained Bullish Positioning
CoinGlass derivatives data complements the technical structure with measured optimism. Futures volume declined 14% despite recent price appreciation. Open interest also slipped 0.91%, indicating softer leveraged participation.
Long-to-short ratios continue favoring buyers without reaching crowded positioning levels. Binance's accounts have a ratio of almost 1.05, and OKX's accounts have a ratio of 1.35. Those readings aren't an overstatement of optimism, they're more moderate.
Liquidation statistics offer a more levelled-up view over the past couple of sessions. Short liquidations have been more for several periods than long liquidations. Despite that, in total, the liquidation amounts were still comparatively low.
PEPE is as of writing, valued at $0.000002664 and has seen a 2.26% increase in its value within the last 24 hours, and a 8.48% increase in value within a week. The trading volume is at $102.56 million a day, despite a drop in futures volume. Together, technical levels and derivatives metrics continue favoring disciplined confirmation before stronger directional positioning.
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Michael Saylor said BIP 110 introduces unnecessary consensus changes that pose greater risks than Bitcoin spam.
Adam Back argued the proposal conflicts with Bitcoin's decentralized governance and censorship-resistant design.
Both maintained that transaction policy disputes should not justify changing Bitcoin's existing consensus rules.
Bitcoin debate intensified after Strategy founder Michael Saylor and Blockstream co-founder Adam Back publicly opposed BIP 110. Through separate statements, both argued the proposal conflicts with Bitcoin's existing principles, warning that changing consensus rules over spam concerns could create broader risks and divide the network rather than resolve the dispute.
Saylor Warns Against Consensus Rule Change
Michael Saylor argued that BIP 110 transforms a disagreement over spam into a consensus-level protocol change. According to Saylor, the proposal would invalidate transactions that currently meet Bitcoin's existing rules and pay transaction fees.
He said that precedent creates a greater concern than spam itself. Saylor added that Bitcoin faces many other issues deserving greater attention than altering consensus over transaction filtering.
His comments focused on protecting Bitcoin's current validation rules. He maintained that changing those rules over a policy dispute introduces unnecessary risk.
Adam Back Defends Bitcoin's Design
Meanwhile, Adam Back explained his opposition in a detailed post discussing Bitcoin's decentralized structure. According to Back, supporters of BIP 110 appear motivated by legitimate concerns but misunderstand how Bitcoin's technical governance operates.
Back said decentralization prevents users from imposing their preferred transaction policies on others. Instead, participants may change their own software but cannot require the broader network to adopt those changes.
He also argued that Bitcoin's decentralized technical review process protects the protocol from changes lacking broad technical consensus. According to Back, developers and reviewers examine proposals before any network-wide adoption occurs.
Back Says Fork Remains The Alternative
Back acknowledged that many BIP 110 supporters want to protect Bitcoin from spam. However, he argued that the proposal conflicts with Bitcoin's permissionless and censorship-resistant design.
According to Back, disagreements over transaction policies should not override the network's decentralized decision-making process. He encouraged supporters to study the technical reasons behind Bitcoin's existing approach before pursuing protocol changes.
Back added that anyone rejecting the existing consensus remains free to create a separate fork. However, he said Bitcoin itself would not adopt BIP 110 under those circumstances.
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The CFTC stayed CME's self-certified 24/7 crude oil futures contract before its planned launch.
Regulators are reviewing whether round-the-clock futures trading complies with the Commodity Exchange Act and Commission rules.
The proposal remains under formal review as the CFTC continues accepting public comments on 24/7 futures trading.
The Commodity Futures Trading Commission halted Chicago Mercantile Exchange's proposed 24/7 crude oil futures contract before its planned launch. According to the CFTC, the action followed CME's July 8 self-certification filing while the agency continues reviewing round-the-clock futures trading through an ongoing public comment process that began on June 22. The Commission said the stay prevents the contract from launching before its regulatory review concludes.
CFTC Cites Ongoing Regulatory Review
According to the CFTC, the Commission exercised its authority under Regulation 40.2(c) to stay the self-certified contract. As a result, CME cannot introduce the product while regulators assess whether it complies with the Commodity Exchange Act and related Commission rules.
The agency noted that it requested public comments on June 22 regarding 24/7 trading across several futures markets. That review includes crude oil futures and examines whether continuous trading aligns with statutory core principles.
CFTC Chairman Michael S. Selig said the Commission does not apply a single approach to every asset class. He added that each proposal requires an individual legal and regulatory assessment.
CME Filed Under Two Regulatory Paths
Meanwhile, the CFTC explained that exchanges can list contracts through self-certification under Regulation 40.2 or seek formal Commission approval under Regulation 40.3.
According to the agency, CME submitted filings under both procedures. However, the Commission stayed only the self-certification while continuing its review under the 40.3 approval process.
Selig said CME's decision to pursue self-certification during the Commission's ongoing examination required regulatory action. He also encouraged exchanges to work with Commission staff before listing new products that raise legal questions.
Commission Review Continues
According to the CFTC, the stay blocks the proposed contract from trading until regulators determine whether it satisfies federal requirements.
The Commission said it will continue conducting a detailed review under its Regulation 40.3 authority. Meanwhile, the public comment period on 24/7 futures trading remains open as the agency evaluates legal and operational considerations across different asset classes.
The CFTC maintained that its review will determine whether the proposed contract meets the Commodity Exchange Act and applicable Commission regulations before any listing proceeds.
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Weekly trading volume across South Korea's five largest crypto exchanges fell to about KRW 9.97 trillion, down 25.75% week over week.
The decline marked the fifth consecutive weekly drop, with trading activity falling about 43.5% since early June.
Upbit remained the largest exchange despite losing market share, while Bithumb and Coinone recorded modest gains.
Trading activity across South Korea's five largest won-based cryptocurrency exchanges fell below KRW 10 trillion during the week of July 3-10. According to Digital Asset, weekly volume declined for a fifth straight week to about KRW 9.97 trillion, marking the first drop below that level in about two years and nine months.
Five-Week Decline Deepens
According to Digital Asset, combined trading volume across Upbit, Bithumb, Coinone, Korbit, and Gopax reached approximately KRW 9.9676 trillion. That represented a 25.75% decline from the previous week's KRW 13.4 trillion.
The latest figures also extended a steady decline that began in early June. Weekly trading volume measured KRW 17.7 trillion during June 5-12 before falling each following week.
Trading then dropped to KRW 15.4 trillion, followed by KRW 14.6 trillion and KRW 13.4 trillion. Compared with early June, total weekly volume has now declined by about 43.5%.
According to Digital Asset, this marks the first time weekly trading volume has fallen below KRW 10 trillion since late September 2023.
Market Share Shifts Across Exchanges
While overall trading activity weakened, several exchanges gained market share during the latest reporting period. However, the rankings among the five exchanges remained unchanged. Upbit retained the largest share of the market at 63.02%.
However, its share declined by 3.95 percentage points from the previous week. Meanwhile, Bithumb increased its market share by 2.38 percentage points to 29.51%. Coinone also expanded its share by 1.46 percentage points, reaching 6.66%.
Smaller Platforms Hold Positions
Korbit accounted for 0.78% of the total market during the reporting period. Meanwhile, Gopax recorded a market share of 0.03%, according to Digital Asset.
Although market shares shifted among individual exchanges, none changed their overall positions in the rankings. Upbit remained first, followed by Bithumb, Coinone, Korbit, and Gopax.
According to the reported data, the broader trend continued to reflect declining trading activity across South Korea's leading won-denominated cryptocurrency exchanges during the latest five-week period.
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Coinbase's Faryar Shirzad said the CLARITY Act strengthens anti-money laundering, sanctions enforcement, and national security oversight.
Senator Elizabeth Warren renewed criticism, arguing the bill could weaken sanctions enforcement and requesting hearings on crypto holdings.
Senate committees continue merging separate proposals into a unified CLARITY Act draft before the August recess.
Debate over the CLARITY Act intensified as the Senate prepared a unified draft and Coinbase defended the proposal against national security criticism. Coinbase Chief Policy Officer Faryar Shirzad said unclear crypto rules create greater risks, while lawmakers continued negotiations before the expected release of revised legislation ahead of the August recess.
Shirzad Rejects Security Criticism
According to Shirzad, the CLARITY Act would place crypto platforms under the same national security standards as traditional financial institutions. He said the legislation requires compliance with federal anti-money laundering rules rather than reducing oversight.
Shirzad also said the bill expands the Treasury Department's authority to identify and stop sanctions evasion involving foreign adversaries. Additionally, he noted that the proposal provides more funding for the Financial Crimes Enforcement Network to combat state-backed cybercrime.
He added that the legislation would also allow crypto platforms to freeze suspicious transactions when law enforcement requests action. According to Shirzad, those measures strengthen oversight instead of weakening it.
Warren Raises New Concerns
However, Senator Elizabeth Warren renewed her criticism of the legislation. According to the provided information, she shared an opinion article from a former National Security Council official focused on Iran.
Warren argued the CLARITY Act, in its current form, could make sanctions evasion easier. Meanwhile, she and ranking Democrats from five congressional committees also requested hearings into President Donald Trump's crypto holdings.
At the same time, Senate Banking Committee and Senate Agriculture Committee staff continue working to combine separate proposals into a single legislative draft. The unified version could become available before lawmakers leave for the August recess.
Market Watches Bill's Progress
Meanwhile, Coinbase's leadership transition has also attracted attention during the legislative debate. Chief Legal Officer Paul Grewal recently announced his departure after six years with the company.
Grewal previously helped lead Coinbase's legal efforts involving the SEC while supporting the GENIUS Act and the CLARITY Act. Following his announcement, some market participants questioned whether the legislation had lost momentum.
According to the provided information, the CLARITY Act advanced through the Senate Banking Committee in May 2026. Separately, Polymarket showed the bill's chances of passing this year at 46%, while some commentators linked Grewal's departure to the legislation's uncertain timeline.
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Brad Garlinghouse said Ripple considered shutting down after the SEC lawsuit but continued operating to protect employees.
David Schwartz said early legal advice favored settling, believing Ripple could not survive the SEC's case.
Ripple later resolved the lawsuit and has since expanded its regulatory approvals and global operations.
Ripple Chief Executive Officer Brad Garlinghouse said the company considered shutting down after the U.S. Securities and Exchange Commission sued it in 2020. Speaking at the KU School of Business, Garlinghouse said Ripple weighed closing operations because of the government's legal resources but continued fighting the case to avoid widespread job losses.
Garlinghouse Describes Shutdown Option
Garlinghouse said shutting down appeared to be the easier path after the SEC filed its lawsuit. According to his remarks, Ripple could have distributed its XRP holdings to shareholders on a pro rata basis.
He said the company could then have informed the SEC that it no longer held XRP. However, Garlinghouse added that such a decision would have left hundreds of employees without jobs.
Instead, Ripple continued defending the lawsuit through the courts. The SEC filed the case in 2020, alleging Ripple sold XRP as an unregistered security.
Schwartz Recalls Early Legal Advice
Ripple Chief Technology Officer David Schwartz also addressed the company's response after the lawsuit. According to Schwartz, legal advisers initially believed Ripple could not survive the case.
https://twitter.com/JoelKatz/status/2076138642020646933?s=20
He said lawyers recommended reaching a settlement to protect the company and its executives. Schwartz also said he believes the SEC named Garlinghouse and Ripple co-founder Chris Larsen personally because that outcome was expected in similar cases.
The SEC later pursued claims against both executives alongside the company. However, Judge Analisa Torres later ruled that XRP itself is not a security.
Company Expanded After Legal Fight
The SEC and Ripple eventually settled the long-running lawsuit after the Trump administration took office. Meanwhile, Ripple has continued expanding its regulatory footprint.
According to the provided information, Ripple recently obtained a new European Union license, making the company compliant with the Markets in Crypto-Assets framework. The company has also secured licenses across multiple jurisdictions.
Community member BankXRP said Ripple's U.S. business has resumed while institutional partnerships continue expanding. He also noted that banks are building on the XRP Ledger, according to the information provided.
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Paul Grewal will leave Coinbase after six years and remain an adviser and board member of Coinbase National Trust Company.
Coinbase appointed Molly Abraham as general counsel and promoted Ryan VanGrack to vice chairman and head of corporate affairs.
Grewal's tenure included Coinbase's SEC lawsuit, public listing, and support for the GENIUS and CLARITY Acts.
Coinbase Chief Legal Officer Paul Grewal announced on July 9 that he will leave the company at the end of the month after six years. According to Grewal, he will transition into an advisory role while remaining on the Board of Coinbase National Trust Company, as Coinbase also reshapes its legal and policy leadership.
Leadership Changes Take Effect
Grewal said his tenure included Coinbase's public listing, the company's legal battle with the U.S. Securities and Exchange Commission, and its move from Delaware to Texas. He also cited his work supporting the GENIUS Act and the proposed CLARITY Act.
According to Reuters, Grewal plans to join a startup after leaving Coinbase. However, he will continue advising the company and remain involved with its trust charter work.
Coinbase also announced that Molly Abraham will become general counsel. Grewal said she worked alongside him for more than five years during the company's major legal cases.
New Roles Expand Policy Team
Meanwhile, Coinbase promoted Ryan VanGrack to the newly created position of vice chairman and head of corporate affairs. According to Grewal, VanGrack will work with governments and industry partners worldwide.
Reuters reported that VanGrack will represent Coinbase before policymakers and key stakeholders while supporting the company's broader corporate strategy. He said his new responsibilities include expanding products, entering additional jurisdictions, and strengthening government relationships.
At the same time, Faryar Shirzad will continue leading Coinbase's global policy team. Grewal said the group's work with governments and regulators remains critical to the company's operations.
Armstrong Reflects On Grewal's Tenure
Coinbase Chief Executive Officer Brian Armstrong thanked Grewal for leading the company through its regulatory disputes. Armstrong recalled the company's public challenge to the SEC before the agency later dismissed its lawsuit.
According to Reuters, the SEC sued Coinbase in 2023, alleging the exchange operated as an unregistered securities platform. The agency later dropped the case after President Donald Trump returned to office.
Armstrong also praised Grewal for building the legal team that now includes Abraham and VanGrack in senior leadership positions. Grewal said he remains grateful for his time at Coinbase and described the company as an ally for life.
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Metaplanet is studying how Bitcoin, stablecoins, and security tokens could support blockchain-based corporate credit products.
The initiative will assess Bitcoin as collateral, with JPYC handling settlements and security tokens managing investor rights.
The project remains in the research phase, with no issuance plans, launch date, or product terms finalized.
Metaplanet has launched a joint feasibility study with Metaplanet Securities, JPYC, and Progmat to examine Bitcoin-backed digital credit products in Japan. According to Metaplanet, the initiative will evaluate how Bitcoin, stablecoins, and security tokens could support digital corporate credit, while no issuance plans, launch date, or product terms have been finalized.
https://twitter.com/WuBlockchain/status/2075627066712875084?s=20
Study Focuses On Bitcoin And Tokenization
According to Metaplanet, the study will assess whether Bitcoin can serve as collateral or a credit enhancement tool. At the same time, JPYC stablecoins would handle payments and settlements, while security tokens would manage investor rights.
The companies also plan to examine blockchain-based corporate bonds and other digital credit instruments. Notably, the proposed framework includes continuous market access, on-chain settlement, and daily interest accrual for holders.
However, Metaplanet confirmed the project remains in the research stage. The company added that it has not approved any product issuance or finalized commercial terms.
Project Nova Drives The Initiative
The study forms part of Metaplanet's broader Project Nova strategy. According to the company, the initiative explores using Bitcoin as productive collateral on its balance sheet.
Project Nova also seeks to connect traditional capital markets with digital asset infrastructure in Japan. Additionally, the company said it aims to develop new yield products and improve capital market access for retail and institutional investors.
Earlier this year, Metaplanet announced plans to acquire Siiibo Securities before renaming it Metaplanet Securities. In March, the company also established Metaplanet Ventures to support Bitcoin-related businesses across Japan.
Company Expands Bitcoin Strategy
According to the information released, Metaplanet currently ranks as the world's third-largest corporate Bitcoin holder. The company holds 43,000 Bitcoin acquired for about $4.1 billion.
During the second quarter of 2026, Metaplanet purchased an additional 2,823 Bitcoin. The company said the average acquisition price reached about $78,850 per coin.
Meanwhile, the study follows growing interest in blockchain-based credit instruments. According to the released details, the companies will also review product design, proof-of-concept activities, and possible future issuance before making any further decisions.
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