China is under increasing pressure from prominent economists and policy advisers to explore using stablecoins for cross-border payments, as the United States accelerates efforts to entrench the dollar’s global dominance through crypto innovations.
Though China continues to enforce a sweeping ban on cryptocurrency activities, recent comments from senior People’s Bank of China (PBOC) officials have reignited debate over stablecoins — digital assets typically pegged to fiat currencies like the US dollar.
PBOC Governor Pan Gongsheng recently acknowledged that stablecoins could “revolutionize international finance,” especially in a geopolitical climate where traditional payment systems are vulnerable to weaponization through sanctions.
Pan highlighted the strategic importance of building alternative infrastructure to avoid such risks, speaking at the Lujiazui Forum in June,
Former PBOC chief Zhou Xiaochuan also spoke at the event, warning that dollar-linked stablecoins might facilitate dollarization. At the same time, other officials floated the idea of yuan-based stablecoins to boost China’s ambitions of internationalizing its currency.
US crypto push spurs Chinese reassessment
The renewed focus in China comes as the US doubles down on its digital dollar agenda. Just hours before Chinese officials addressed the Lujiazui Forum, the US Senate passed a landmark bill to regulate stablecoins — a major win for the crypto industry and President Donald Trump’s digital asset strategy.
US Treasury Secretary Scott Bessent further amplified support, claiming that stablecoins could strengthen the dollar’s role, not undermine it. He cited greater trust in the US regulatory oversight compared to centralized digital currencies like the e-CNY.
Stablecoins, already gaining ground for their ability to make cross-border payments faster and cheaper, are forecasted to grow to $3.7 trillion in supply by 2030, with most currently backed by US dollars and short-term Treasuries.
Hong Kong emerges as a launchpad for China’s stablecoin ambitions
Beijing has historically viewed crypto as a threat to capital controls and financial stability. Yet experts now see a critical opportunity.
Robin Xing, Chief China Economist at Morgan Stanley, noted that stablecoins are not new currencies, but new distribution channels for existing ones. China must embrace sovereign currency tokenization to stay competitive.
Xing and others suggest that Hong Kong could be a regulatory sandbox for offshore yuan-linked stablecoins. Hong Kong has already introduced a legal framework for fiat-referenced stablecoins, and tech giants like JD.com and Ant Group are reportedly preparing license applications.
JD.com’s Chief Economist Shen Jianguang warned that China risks falling behind without a serious push into stablecoins. Founder Richard Liu has said the firm aims to cut cross-border payment costs by 90% and reduce settlement times to under 10 seconds using stablecoins.
Meanwhile, Zhejiang China Commodities City Group Co., operator of the world’s largest wholesale market, also announced intentions to enter the space via licensing.
China pushes ahead with dual-track digital strategy
China’s current digital currency efforts have struggled to gain traction. The e-CNY, the state-backed digital yuan, has seen limited adoption. At the same time, mBridge, a cross-border project with several central banks, faced uncertainty after the Bank for International Settlements (BIS) withdrew over concerns that it could be used to skirt sanctions.
Despite setbacks, Pan announced plans for an international e-CNY center in Shanghai, signaling Beijing’s continued ambitions in digital finance.
To move forward, experts suggest a dual-track strategy. The National Institution for Finance and Development Chairman Li Yang said China should expand traditional efforts like CIPS and currency swaps while leveraging Hong Kong’s capabilities to pilot yuan stablecoins.
According to Bloomberg Intelligence, Hong Kong’s stablecoin efforts could become Beijing’s alternative to sidestep SWIFT, alongside CIPS and mBridge.
Still, hurdles remain. Stablecoins are currently used more for crypto trading than global commerce. Regulatory uncertainties persist, especially regarding whether they qualify as currencies or financial instruments.
Eswar Prasad, a Cornell professor and author of The Future of Money, cautioned that yuan-linked stablecoins may struggle without deeper reforms. “Without unifying onshore and offshore yuan markets, these stablecoins won’t gain much traction,” he said
Yet he also believes they may catalyze reform, nudging China toward more market-oriented policies. As the US continues to cement its lead in the digital currency race, China is now at a critical crossroads in either cautiously observing or stepping boldly into the future of global finance through stablecoin innovation.
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President Donald Trump announced that the United States will likely strike a trade deal with India, though he also expressed uncertainty about a potential deal with Japan.
Trump said the trade deal with India would help US companies compete in South Asia, resulting in much lower tariffs.
On Air Force One, the US president anticipated that India would likely open up the markets to US companies. This would delay implementing the 26% he announced on April 2, then suspended until July 9.
“Right now, India doesn’t accept anybody in. I think India is going to do that. If they do that, we will have a deal for much fewer tariffs,” he said.
Bessent indicates the possibility of the US-India trade talks coming to an end
US-India discussions have stalled over differences in import duties for things like auto parts, steel, and farm goods before a deadline when Trump threatens to retaliate with tariffs.
In an earlier appearance on Fox News, Treasury Secretary Scott Bessent said the US and India are close to a deal that would reduce tariffs on American imports to the South Asian country and prevent India’s levies from rising sharply next week.
In response to a question about progress on trade negotiations, Bessent noted that they are very close with India.
In the meantime, Indian officials moved meetings with their US counterparts in Washington last week until Monday to finalize a trade deal between the US President Donald Trump’s administration. They also aimed to tackle ongoing concerns from both sides, two Indian government sources said.
The Trump administration will try to secure trade deals with countries, including India, before Japan, in the days before the July 9 deadline, said a White House official familiar with the talks.
Notably, India is among over a dozen countries actively discussing with the Trump team to prevent a sharp increase in tariff rates that could come as soon as July 9 after a 90-day tariff pause. India could see its new “reciprocal” tariff rate increase to 27% from 10%.
In an event in New York, the Minister of External Affairs of India, Subrahmanyam Jaishankar, mentioned that they were deep into a complex trade negotiation. He expressed optimism about passing the halfway point of the talks.
Jaishankar, currently in the US for a meeting with the China-focused Quad group, said he hoped they could reach a successful ending.
The minister, however, expressed, “I can’t promise it will happen since there’s another party involved in the talks.” He also mentioned that both sides needed to be willing to compromise and find common ground.
Trump expresses a lack of confidence in reaching an agreement with Japan
Different countries have different agendas for trade deals, Bessent explained. This included Japan, which the president complained about on two consecutive days.
While they were working with Japan, the US president said he was not confident they would agree. Based on his explanation, he had several doubts. He said this while heading back to Washington from a trip to Florida.
Trump had said he might levy a 30% or 35% tariff on imports from Japan – far more than the 24% tariff he announced on April 2 and then deferred until July 9.
He claimed that Japan was not accepting rice grown in the United States, which he called an “easy” request from Washington, even though Japan sells millions of cars in the US.
“I will write them a letter expressing our gratitude. We understand they can’t provide the services we need, so we will ask them to pay 30%, 35%, or whatever percentage we decide,” Trump said.
Only Britain has secured a narrow trade agreement with the Trump administration, agreeing to a 10% US tariff on many goods, including autos, in return for access to aircraft engines and British beef.
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The crypto industry supporters are backing Senator Cynthia Lummis’ amendment to include digital asset tax changes in the “big, beautiful bill.”
While senators consider passage of the more than 1,000-page reconciliation bill, the crypto-friendly Wyoming Republican is advocating for adding some provisions to address “unfair tax treatment” of crypto.
In an X post, Lummis highlighted that for a long time, miners and stakers have faced double taxation. She added that they get taxed once when they earn block rewards and again when they sell them.
According to Lummis, the remedy for this is to end this unfair tax policy and make sure the US becomes the leading power in Bitcoin and cryptocurrency.
Sen. Lummis highlights a remedy for miners and stakers’ taxation
A one-pager from Sen. Lummis’ office, obtained by reporters, hinted that the provisions would establish a de minimis exemption with a threshold of $300. It includes language about how miners and stakers are required to pay taxes.
According to the briefing, the goal is to match the taxes on mining and staking rewards with when people actually gain economic benefits, instead of making them report based on changing and often unclear market values when they receive them, the document stated.
Additionally, it highlighted that this method helps avoid cash flow issues where taxpayers have to pay taxes on assets they have not sold and might find it hard to turn into cash.
In the meantime, some in the industry needed people to call lawmakers, including Senate Majority Leader John Thune, and express their support. In addition, various crypto advocacy groups have been lobbying for tax changes on crypto and, most importantly, pushing for a de minimis exemption.
Matthew Pines, a Bitcoin Policy Institute Executive Director, offered his opinion. In an X post, Pines noted that the Congress is currently drafting the Senate reconciliation bill and that a particular Bitcoin de minimis tax exemption is at stake.
“Please take five minutes today to call or email your elected officials — especially Senator Mike Crapo (R-ID), the top Republican on the Senate Finance Committee — and ask them to support this commonsense fix,” he added.
Kristin Smith, the president of the Solana Policy Institute, also expressed her support. According to Smith, fair tax rules for staking are essential for the US to lead in crypto.
She also emphasized that Congress can boost local growth and create jobs by clarifying stakeholder tax rules.
However, it is unclear whether Lummis’ amendment can find its way into the “big, beautiful bill.”
Several foreign investors intend to shift from the US Treasuries amid increased inflation
The Senate is currently voting on several proposed amendments, and President Trump is demanding that the Republicans get the bill through by Friday this week, according to reports from sources. The bill must still clear the House before landing on Trump’s desk.
As the bill moves through the US Senate, more foreign investors are looking to shift away from the US Treasuries, which are losing their appeal due to concerns about deficit spending and tariffs that could increase inflation.
President Donald Trump’s large tax cut and big spending measures will ramp up US debt by $3.3 trillion, the nonpartisan Congressional Budget Office has estimated, as runaway deficits and sweeping debt led Moody’s to cut its credit rating in May.
Toshinobu Chiba, who manages rates and credit funds at Simplex Asset Management in Tokyo, stated that he was definitely worried about the growing fiscal deficit.
Chiba mentioned that he has been using futures to move away from the US Treasuries and invest in European debt. He then revealed plans to switch to the cash bond market once Trump’s “big, beautiful bill” is approved and inflation expectations rise.
He anticipates that the first choices should be in Europe, especially the bunds and French bonds, adding that Australia and Singapore are also options for global investors.
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Monero price prediction suggests a bullish trend, with XMR anticipated to reach $722.59 by the end of 2025.
XMR could reach a maximum price of $1,501.34 by the end of 2028.
By 2031, Monero’s price may surge to $2,445.93.
Monero (XMR) stands out in the cryptocurrency space for its strong focus on privacy and decentralization of transactions, making it one of the leading privacy focused cryptocurrencies. This makes it a popular choice for privacy advocates and those prioritizing security. The Monero ecosystem constantly evolves, marked by significant milestones like enhanced protocol upgrades and growing adoption across various sectors, which underscore its utility.
As Monero progresses, many wonder about its future price trajectory. Will its unique features drive significant value growth, as many traders speculate? Can it sustain its competitive edge in the ever-evolving crypto market? Will XMR recapture its ATH at $517.62 in the long term forecast?
Overview
Cryptocurrency
Monero
Token
XMR
Price
$316.52 (+2.7%)
Market Cap
$5.82 Billion
Trading Volume (24-hour)
$96.9 Million
Circulating Supply
18,446,744.07 XMR
All-time High
$517.62 May 07, 2021
All-time Low
$0.213, Jan 15, 2015
24-h High
$319.57
24-h Low
$307.33
Monero price prediction: Technical analysis
Sentiment
Bearish
50-Day SMA
$336.27
200-Day SMA
$247.60
Price Prediction
$682.30 (114.99%)
F & G Index
16.44 (extreme fear)
Green Days
12/30 (40%)
14-Day RSI
45.55
Monero price analysis
TL;DR Breakdown
Monero price shows a recovery toward $320
The XMR coin rose by over 4.5% at the time of writing.
Monero price has support and resistance at $312 and $320, respectively.
The Monero price analysis for June 30 shows some recovery as XMR moves back towards $320.
Monero price analysis 1-day chart: XMR recovers towards $320
The 24-hour XMR/USD price chart indicates a mixed market sentiment as the altcoin observes an increase of more than 65% of its value in the last few days as XMR rose from the $220 price level to the $400 mark. However, after reaching the $400 mark, the price crashed sharply to the $310 level where it hovers as the bulls fail to climb past $320 resistance.
The indicators reflect the decreasing bearish price sentiment, as all three major technical indicators show positive signs. The MACD is bullish at 1.00 units and shows rising bullish pressure at the current price level. The RSI also shares this sentiment as it stabilized toward 49.39 level suggesting room for further movement in either direction. The converging Bollinger Bands suggest lower volatility, indicating that the $310 support may hold for the week.
Monero price analysis 4-hour chart
The 4-hour price chart shows that Monero rapidly recovered after the price broke down below the descending trend’s bottom line. Currently the bulls seek to cross $320.
The RSI is at 55.51, suggesting bullish momentum as the price climbs back towards the $320 mark. The MACD, at 0.63, shows low bullish momentum on the 4-hour charts. Additionally, the EMAs are rising from the mean value, it suggests an optimistic market sentiment. These indicators collectively indicate a rising bullish trend below the $320 level, suggesting a climb towards higher supports.
Monero price analysis shows that XMR saw a great start to this month as the price rose to the $360. However, the sharp crash to the $320 mark suggests strong bearish pressure. As expected, the price fell below $300 but was defended well below the well enabling a swift recovery. Now the bulls seek to go higher.
According to our analysis, we expect the XMR price to rise towards the $335 mark after brief consolidation below the $325 mark. However, the bulls need to breach the $320 level and establish a foothold above $318 to initiate a rally.
Is Monero a good investment?
Monero is an attractive investment because it emphasizes privacy and security, utilizing advanced cryptographic techniques to ensure transaction confidentiality. Its growing adoption across various use cases and a decentralized development model enhance its long-term potential.
With a limited supply and increasing investor interest, Monero offers a unique opportunity for those seeking financial autonomy and privacy to invest in cryptocurrency. However, investors should remain cautious of regulatory risks and market volatility when considering Monero as part of their portfolio, making it essential to seek investment advice .
Why is XMR up today?
Monero rapidly recovered after the price broke down below the descending trend’s bottom line with the bulls seeking to go past $320.
Will XMR recover to its all-time high?
Monero is expected to recover toward its all-time high of $518 by mid-2026 as the privacy chain continues to reduce its tech debt and progresses toward greater utility and privacy. However, the platform might have to overcome regulatory scrutiny and challenges before it can see mass adoption.
How much will Monero be worth in 5 years?
The Monero price prediction for 2030 suggests a minimum price of $1,048.76 and an average trading price of $1,142.11. The maximum forecasted price is set at $1,208.35.
Will XMR reach $1000?
The chance of Monero (XMR) hitting $1,000 hinges on various factors, which will influence its future price movements . The adoption of privacy transactions and technological advances could increase demand. Favorable regulations and market sentiment toward privacy coins would also help. Yet, regulatory risks, competition, and market volatility are challenges. $1,000 is possible with favorable conditions, especially considering the current price but market dynamics and regulations will shape its path.
Does XMR have a good long-term future?
Monero (XMR) has the potential for a strong long-term future due to its focus on privacy and security, which makes it attractive to users seeking anonymity. However, regulatory scrutiny and notoriety from being the favored medium for some past criminals impact the current monero sentiment, making it challenging to become the star of the market. Monero’s commitment to privacy gives it a solid foundation for long-term growth, but it must carefully navigate market and regulatory landscapes.
Recent news/ opinion on Monero
Monero recently announced the FCMP++ Optimization Competition to optimize the helioselene and ec-divisors libraries used in Monero’s upcoming Upgrade. The competition is now open to submissions.
The XMR price prediction for June 2025 suggests a minimum value of $240.57 and an average price of $328.54. The price could reach a maximum of $418.00 during the month, reflecting the broader category of digital assets .
Month
Minimum Price ($)
Average Price ($)
Maximum Price ($)
June
240.57
328.54
418.00
Monero price prediction 2025
The Monero price prediction for 2025 anticipates a potential increase in the price of Monero upon adoption, resulting in a maximum price of $722.59. Based on the analysis, investors can expect an average price of $704.23, while the minimum price could be around $194.64.
Year
Minimum Price ($)
Average Price ($)
Maximum Price ($)
2025
194.64
704.23
722.59
Monero price prediction 2026-2031
Year
Minimum Price ($)
Average Price ($)
Maximum Price ($)
2026
705.48
787.74
821.88
2027
967.00
1,162.71
1,195.07
2028
1,150.61
1,164.82
1251.07
2029
1,264.82
1,450.61
1,501.34
2030
1,559.88
1,698.73
1,797.26
2031
2,216.80
2,399.01
2,445.93
Monero Price Prediction 2026
According to the XMR price forecast for 2026, Monero’s price is anticipated to reach a minimum trading price of $705.48. The potential maximum XMR price could be $821.88, with an average price of $787.74.
Monero Price Prediction 2027
The XMR price prediction for 2027 will continue rising and exhibit minimum and maximum prices of $967.00 and $1,195.07, as well as an average price of $1,162.71.
Monero Price Prediction 2028
Monero’s price is expected to reach a minimum price of $1,150.61 in 2028. The maximum expected XMR price is $1,251,34 with an average price of $1,164.82.
Monero Price Prediction 2029
The XMR price prediction for 2029 expects XMR to reach a minimum of $1,264.82. The XMR price can reach a maximum level of $1,501.34, with an average price of $1,450.61 throughout 2029.
Monero Price Prediction 2030
The Monero price prediction for 2030 suggests a minimum price of $1,559.88 and an average trading price of $1,698.73. The maximum forecasted price is set at $1,797.26.
Monero Price Prediction 2031
The Monero price prediction for 2031 suggests a minimum price of $2,216.80 and an average trading price of $2,399.01. The maximum forecasted price is set at $2,445.93.
Cryptopolitan’s Monero price forecast suggests a bullish outlook for Monero’s future price should the market recover soon. According to our expert analysis, XMR might record a maximum price of $722.59, a minimum price of $294.64, and an average price of $704.23 at the end of 2025.
Monero historic price sentiment
Monero’s market value has changed dramatically since its launch in 2014, from less than $1 to over $475.
May 2021 marked the highest point in Monero’s history. Monero’s price projections revealed the coin’s security. They provide investors with optimism that they will be freed from the persecution of some authorities simply by buying or selling Monero.
Monero price history; Source: Coinmarketcap
Across 2023, Monero’s price rose by 11.49%. The highest price was $278.56, and the lowest was $114.16.
In January 2024, Monero stayed stable around the $150.00 mark as market momentum remained low. However, the stability was short-lived as February crashed to $101.95. However, XMR showed swift recovery as it closed the month near the $150.00 level again.
In March and April 2024, XMR saw a steady decline from $150.00 to $120.00, where it found key support.
In May 2024, XMR observed steady bullish pressure as the price rose from $120.00, approaching resistance at $150.
In June 2024, Monero (XMR) traded within the $150 – $175 price range as either side struggled to make a clear breakthrough. In July, the crypto traded around the $155 mark as the price volatility remained relatively low. XMR opened trading at $156.05 in August and ended the month at $176.00, making remarkable gains.
September was bearish for the asset, as the price declined below the $160 mark by the end of the month. In October, Monero observed a steep crash and has been making a swift recovery since then.
In December, Monero made remarkable strides as the asset’s price broke past the $220 mark, albeit briefly as it closed the month below $200.
In January, Monero saw a bullish January as the price rose from below the $200 mark to $238 by the end of the month.
In February, the price fell towards the $215 mark as bears dominate the markets. In March, the price observes mixed momentum and closed the month slightly below $215. In April the consolidation continued until late into the month when it spiked past the $325 mark before ending the month around $275. In May the price continued rising rapidly as the bulls cruised past $300 ending the month around $320.
The Financial Conduct Authority (FCA) unveiled plans to allow companies to offer consumers generic recommendations without complying with all the expensive rules around providing personalised advice.
This is one of the biggest shake-ups of investment advice for a decade. Millions of British savers will be granted access to “targeted support” under wide-ranging new rules to aid people’s quest for better returns on their money.
Barclays’ analysis shows that around 13 million adults in the UK are keeping about £430 billion in cash, based on the savers who currently have more than six months’ income in savings, which could be invested.
Meanwhile, companies such as Hargreaves Lansdown and Vanguard have already started offering these services.
FCA unveils new changes to the UK’s financial advice market
The FCA described “a once-in-a-generation change” to the UK’s financial advice market. This change will allow companies to suggest to a group of people sitting on so much cash to consider investing some in shares to earn better returns over time.
The move comes more than a decade after the FCA’s Retail Distribution Review, which was intended to increase the quality of financial advice but has also made it more expensive for the population. This left many people unable to afford such services, resulting in an “advice gap”.
The FCA said the new regime is a remedy created to help more than half of British savers, who said in a recent survey that they needed further assistance investing their money.
Based on the regulator’s argument, 7million British adults have more than £10,000 in cash savings and no investments. Hence, people between 13.5 million and 30.6million might gain from this focused assistance.
The regulator also said it would consult on developing rules for this new activity of targeted support by December, enabling companies to make generic offers to groups of consumers with similar characteristics.
This would no longer be caught by the burdensome requirements to give customers a “personal recommendation,” such as undertaking a fully detailed suitability assessment.
Apart from these new changes, the FCA also plans to introduce a second, more focused, category called “simplified advice.” In this category, firms will be able to make a suggestion on a financial product to a customer, subject to a short document detailing their “essential relevant facts” – without having to conduct the full suitability assessment.
Several prominent figures acknowledged the importance of the FCA’s proposal
Several prominent figures have commented on FCA’s proposals. Dan Olley, chief executive of Hargreaves Lansdown, the UK’s largest “DIY” investment site, said the proposals will be genuinely transformational in cementing a healthy retail investment culture in the UK.
According to Olley, it was obvious that there are important moments in life when several people find themselves in the advice gap. He further elaborated that in this situation, one cannot afford financial advice but needs more help than the rules permit.
James Daley, a leader of the consumer group Fairer Finance, said the changes were moving in the right direction. However, he insists that these proposals must be put in place with strong consumer protections – and that customers should have confidence that these options will not lead to their exploitation.
Jon Cleborne, the leader of Vanguard in Europe, also commented on the topic of discussion. Cleborne highlighted that FCA’s proposals are important for helping more people enjoy the benefits of long-term investing and reach their financial goals.
Lastly, Verona Kenny, the chief distribution officer at Aberdeen Adviser, reported that over 40% of individuals acknowledged that they have done little to prepare financially for retirement. Based on her argument, the new changes appear to be the best opportunity in a generation to address this issue.
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Anchorage Digital, a federally chartered crypto bank, is under fire after announcing it will delist several stablecoins, including the widely used USDC.
This week, the firm released a “Stablecoin Safety Matrix” that evaluates digital dollar tokens based on regulatory oversight and reserve quality. USDC, Agora USD (AUSD), and Usual USD (USD0) failed to meet the firm’s internal criteria and will be phased out.
Anchorage urged its institutional clients to switch to Global Dollar (USDG), a rival stablecoin issued by Paxos and supported by a consortium in which Anchorage itself is a founding member.
“Following our Stablecoin Safety Matrix, USDC, AUSD, and USD0 no longer satisfy Anchorage Digital’s internal criteria for long-term resilience,” Rachel Anderika, head of global operations at Anchorage, said in a statement justifying the decision.
She continued to say that they specifically identified elevated concentration risks associated with the issuer structures — something they believe institutions should carefully evaluate.
Stablecoin race heats up as lawmakers act and Circle defends USDC
Anchorage’s move comes amid a flurry of activity in the stablecoin world. Financial giants and crypto firms are vying for dominance in the $250 billion market, which Citi and Standard Chartered analysts predict could grow to the trillions.
Nordic lawmakers are trying to give stablecoin issuers regulatory accommodation as well. Recent developments came from the GENIUS Act, which the US Senate passed. White House crypto policy lead David Sacks has said the bill may become law by next month.
Despite Anchorage’s move, other stablecoin evaluators remain favorable toward USDC. S&P Global recently gave USDC a “strong” stability rating. The crypto-native ratings firm Bluechip gave it a B+ in economic safety.
Circle, which issues USDC, pushed back on Anchorage’s claims, defending its “long-standing compliance record” and full backing by fiat reserves. “We were the first stablecoin issuer to comply fully with the EU’s crypto regulations,” a spokesperson said.
Industry pushes back on Anchorage
Anchorage’s move has drawn sharp criticism from key players in the crypto space. Nick Van Eck, founder of Agora and the issuer of AUSD, accused the firm of spreading misinformation and failing to disclose its financial interest in USDG.
Nick Van Eck said he would have understood if Anchorage had delisted USDC and AUSD to prioritize stablecoins from which it profits. However, he criticized the firm for smearing competitors under the guise of safety, calling the move unserious.
Viktor Bunin of Coinbase, which co-launched USDC, also criticized Anchorage’s report and described it as a poorly executed hit piece.
Jan Van Eck, CEO of asset manager Van Eck and father to Nick, mocked the company’s safety matrix and suggested it was laughable, predicting that the firm might soon take it down.
Circle reiterated that regulated institutions back USDC and maintain robust liquidity and transparency. Other custodians also supported USDC and AUSD.
BitGo’s chief revenue officer, Chen Fang, said the company was not ceasing support for USDC.
Agora and Circle are longtime partners in AUSD, and Joshua Lim, co-head of markets at FalconX, said the firm can accommodate the needs of clients trading AUSD and USDC.
While Anchorage moves forward with its stablecoin revamp, it may face increased scrutiny of its motives and transparency. The stablecoin wars are not over — and trust, it seems, is the true currency at play.
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The publicly traded crypto custody and loyalty rewards firm Bakkt plans to raise $1 billion in an equity and debt offering to support a “Bitcoin strategy”.
This is according to filings submitted to the US Securities and Exchange Commission on Thursday, June 26.
The shelf offering could consist of sales of Bakkt’s Class A common stock, preferred stock, warrants, and debt securities. The shift would be the latest strategic change for Bakkt. However, according to the SEC filing, the firm has not yet made any crypto purchases.
Bakkt files for SEC shelf registration amid the growing interest in crypto
Bakkt submitted a filing to the SEC through a “shelf” registration process. With this shelf registration, the firm can occasionally sell any mix of the securities mentioned in the prospectus in one or more offerings.
The filing stated that Bakkt may sell securities occasionally through one or more offerings, with amounts, prices, and terms decided at the time of each offering.
This prospectus outlined the basic terms of these securities and how the firm will offer them. According to the filing, the total price for the securities Bakkt sells will not go over $1 billion.
The SEC also required the company to include the price they would pay for those securities and the amount of money they expected to make from the sale.
This came after Bakkt said it had “updated” the investment policy to specifically allocate capital into Bitcoin and other digital assets as part of its treasury and corporate strategy on June 10.
Founded in 2018, Bakkt is now an emerging crypto treasury firm that allows investors to make a leveraged bet on digital assets such as Bitcoin, ETH, and SOL by financing digital asset purchases in the traditional capital markets.
Earlier, the Atlanta-based firm, which started with backing from the New York Stock Exchange (NYSE) owner Intercontinental Exchange, offered an institutional-grade trading platform for daily physically-settled Bitcoin futures before trying to tokenize rewards points and crypto custody. This product failed to gain traction. The company went public in 2021.
Meanwhile, Bakkt’s initial Chief Executive Officer, Kelly Loeffler, resigned in 2019 to briefly serve as a Republican United States senator in Georgia under the first Trump administration.
Moreover, President Donald Trump’s social media company, Truth Social, was said to be in “advanced talks” to acquire Bakkt last November.
Bakkt officials highlight the firm’s focus on crypto
Following the announcement that Bakkt had “updated” the investment policy, Akshay Naheta, co-CEO of Bakkt, stated that this plan aims to help Bakkt change into a company that focuses solely on crypto infrastructure and allows them to add Bitcoin and other digital assets to their treasury carefully.
According to Naheta’s speculations, their strategy shows their strong belief in the future of digital assets and their goal for Bakkt to grow globally and become a leader in programmable money.
Andy Main, Co-CEO and President of Bakkt, also commented on the topic of discussion.
According to him, their updated investment policy shows their confidence in digital assets’ long-term potential and dedication to seeking strategic opportunities that increase shareholder value.
Main said this is a significant step for the company as it looks to expand into global payments and remittance systems using stablecoins while being part of the ongoing development of the digital asset ecosystem.
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The dollar lost ground fast on Thursday after The Wall Street Journal reported that Trump might reveal his next Federal Reserve chair pick much earlier than expected.
Traders responded immediately in Asia as the US currency dropped against all its major peers. The news came after Trump said he’s unhappy with how current Fed Chair Jerome Powell has handled interest rates, believing he’s been too slow to cut them.
Trump is now considering making an announcement as early as September or October, while Powell’s term doesn’t end until May 2026.
According to the Journal, the names being floated inside the White House include Kevin Warsh, a former Fed governor, and Kevin Hassett, the director of the National Economic Council.
Both men have had previous ties to Trump’s circle, and the idea of naming a successor so early is already shaking investor confidence. Trump told reporters Wednesday he’s currently considering “three or four” potential replacements.
He’s openly criticized Powell’s recent decision to keep interest rates on hold, saying it’s keeping government borrowing costs high and hurting growth. Earlier this month, he said new names would be coming “very soon.”
White House sends mixed signals
Rodrigo Catril, strategist at National Australia Bank in Sydney, said Trump’s possible early announcement could “amp up the pressure” on Powell long before his term ends. “We could have a shadow Fed chair before May next year,” Catril said, adding that this kind of political pressure could push the dollar lower in coming weeks.
When asked about Trump’s intentions, the White House responded by saying the Fed should focus on growth-oriented monetary policy. Powell, for his part, insisted politics wouldn’t influence the Fed’s choices.
“If we make a mistake here, people will pay…the cost for a long time,” Powell told lawmakers during a Senate hearing. He added that rate cuts are still possible later this year, but said the Fed would take a “careful approach.”
On the timeline, Larry Bessent, current Treasury Secretary, previously said interviews for the next chair wouldn’t begin until September. But that schedule might not hold. The Fed’s independence has been guarded since the 1970s, when President Nixon pressured the central bank for lower rates ahead of his reelection. That led to disastrous inflation that took years to fix.
Trump eyes Warsh, Bessent, and Malpass for top role
Trump has had Warsh on his radar for a while. He spoke with him earlier this year about possibly replacing Powell before his term ends. Warsh was also interviewed by Trump last fall for the Treasury job.
At a closed-door event in Boston this month, Warsh told a group of finance professionals, “I wouldn’t be shocked if the president made a nomination sooner than would be customary, just to…try to make a lame duck lamer or something like that.”
Still, there are concerns. Some of Trump’s aides worry Warsh could be a maverick. He’s long been seen as a policy hawk, more focused on fighting inflation than boosting employment.
When asked about that label in Boston, Warsh said, “My fatal flaw is I say what I believe. If the president wants someone who is weak, I don’t think I’m going to get the job.” He also took a shot at zero interest rates: “When things are free, when rates are zero, that leads to very bad economic outcomes.”
Warsh also praised Kazuo Ueda, head of the Bank of Japan, saying he’s “the most talented central banker on the planet right now.”
Then there’s Hassett, who’s reportedly told people he’s not interested in taking the job. That makes room for Bessent. Despite saying he’s committed to his current position, people familiar with both him and Trump say Bessent hasn’t ruled it out.
Speaking before Congress earlier this month, Bessent said, “I’m happy to do what President Trump wants me to do.” That loyalty matters—Trump barely knew Powell when he picked him in 2018 and now sees that decision as a mistake. He’s determined not to repeat it.
Trump has also been talking to aides about David Malpass, who ran the World Bank during his first term. Malpass has recently supported rate cuts and criticized the Fed’s internal models in a Journal op-ed. Those views line up with Trump’s. But in recent private dinners and lunches, Trump reportedly raised doubts over Malpass’s TV appeal, suggesting his appearance might not suit the role.
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Donald Trump, speaking from The Hague on Wednesday, said the United States would make Spain pay double in ongoing trade talks after Madrid rejected a new NATO defense spending target of 5% of GDP. The threat came just hours after NATO leaders agreed to major defense spending increases that Trump had pushed hard for. But Spain publicly refused to meet the target, insisting it could fulfill its obligations without crossing that 5% line.
“I think their decision is very terrible,” Trump said. “We’re negotiating with Spain on a trade deal. We’re going to make them pay twice as much.” The statement, reported by Reuters, raised eyebrows because Spain, like other EU members, doesn’t make individual trade deals with the U.S.. Those negotiations are handled by the European Commission, representing all 27 member states. That means if Trump wants to carry out this punishment, he’d need to insert that language into a broader agreement with the entire European Union—something that would likely face major opposition.
Trump jokes about ‘daddy’ nickname, defends himself at NATO
Instead of focusing on Spain’s refusal, Trump spent a chunk of the summit praising his own impact on the alliance. “They said, ‘You did it, sir, you did it,’” Trump said. “Well, I don’t know if I did it, but I think I did.” He said this while smiling, clearly enjoying the attention from fellow leaders. When asked about NATO Secretary General Mark Rutte calling him “daddy,” Trump said it was “very affectionately.” Secretary of State Marco Rubio, standing behind him, tried not to laugh.
This summit was calmer than the ones Trump attended during his first term. Back then, meetings were tense, with European leaders uncertain about his loyalty to NATO’s collective defense clause. But on Wednesday, Trump said he no longer believed the alliance was a scam. “I left here differently,” he said. “I left here saying that these people really love their countries. It’s not a rip off, and we’re here to help them protect their country.”
Still, not everyone was pleased with how things unfolded. French President Emmanuel Macron, speaking after the summit, called out Trump’s trade threats. “We cannot, among allies, say that we must spend more…and wage a trade war,” Macron said. He added, “It is very important that we can return to what should be the rule within a group of allies…a true trade peace.” Macron was also the only leader to criticize Trump over his decision to hit Iran last week.
Trump says Iran attack was like Hiroshima, meets with Zelenskyy
At the press conference, Trump also talked about the U.S. military strikes on Iran, calling them “very, very successful—total obliteration.” He said media outlets like CNN and The New York Times had “demeaned” U.S. troops with their coverage. He added that intelligence reports backed the attack’s effectiveness. “We think we hit ‘em so hard and so fast, they didn’t get to move,” Trump said. “We destroyed the nuclear. It’s blown up…to kingdom come.”
He even compared the strikes to the nuclear bombings of Hiroshima and Nagasaki in 1945. “That ended the war, too. This ended a war in a different way, but it was so devastating,” Trump said. He claimed that bunker-buster bombs were used and insisted this cleared a path to peace in the Middle East.
Before stepping onstage, Trump held a private meeting with Ukrainian President Volodymyr Zelenskyy, which lasted nearly an hour. He described Zelenskyy as “very nice” and commended Ukraine’s fight. When asked if he’d approve more defense aid, Trump replied, “We’ll see what happens.” A Ukrainian journalist told him her husband was in the military. Trump responded directly, saying, “Vladimir Putin really has to end that war.”
At the very end, Trump was asked why he believed the latest ceasefire between Iran and Israel would hold. “They’re both tired, exhausted,” he said. “They were both satisfied to go home and get out.”
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The value of digital assets under BitGo Inc.’s custody has surged. BitGo’s vice president for its Asia-Pacific business, Abel Seow, said it had seen its assets under custody (AUC) rise from $60B to $100B in the first six months of the year.
It represents a 66% increase, demonstrating the growing appetite among institutional and retail players to participate in the crypto-economy. Seow said that the rise was driven by “peak retail interest” in crypto, increasing asset adoption, and greater regulatory clarity in major jurisdictions.
Crypto confidence is growing among investors, as is evident in the demand for secure and regulated custody services.
One big driver of the increase in BitGo’s assets is “staking,” which involves crypto holders locking up their tokens to help validate blockchain transactions and, in exchange, earn passive income.
Today, assets in BitGo Staking represent 50% of BitGo’s total holdings, where yield-based strategies are a core investment theme for modern digital asset holders.
BitGo expands into global markets
BitGo, which was established in 2013, initially offered secure wallets but has since developed into a one-stop shop crypto bank. In addition to custody, BitGo provides clients with the capabilities to trade, borrow, and lend digital assets. It has clients that include institutional investors and firms born on the blockchain.
Over the past year, the company has been growing quickly internationally. BitGo Korea was released in September 2024 with Hana Financial Group and SK Telecom, two of South Korea’s largest financial and telecommunications companies.
Seow said the joint venture is “progressing well” and has begun offering its services to high-net-worth clients and regional institutional participants.
Also, in early 2025, BitGo officially seeded its Dubai operations, entering the region’s growing digital asset ecosystem. Crypto stronghold Dubai has established itself as a burgeoning hub in its own right on the backs of business-friendly regulation and investor appetite.
BitGo’s growing reach reflects a larger trend in the industry; crypto firms no longer want to concentrate only on the US and Europe in traditional markets. Instead, they seek to go global to service local demand, particularly in areas where regulation is favorable and smartphone penetration rates are high.
BitGo plans IPO as crypto market heats up
Riding the wave, BitGo is getting ready for a potential public listing as soon as the second half of 2025, reports Bloomberg. The move would make the company part of an emerging wave of crypto-native firms seeking to tap into public markets, with renewed investor confidence and a more friendly regulatory environment pushing these firms into the spotlight.
BitGo’s IPO strategy is part of a wider trend related to a change in the US approach under President Donald Trump’s administration, which has been particularly friendly to crypto since returning to office.
BitGo was last valued in 2023 at $1.75 billion in connection with a $100 million capital raise. Returning to the underwriters, Goldman Sachs Group Inc., DRW Holdings, Redpoint Ventures, and Valor Equity Partners are all backers of the digital asset custody powerhouse, which means that it doesn’t exactly take a crystal ball to guess which four banks might be involved in the IPO.
During his tenure, there have been appointments of crypto-friendly regulators, an attempt to slide through stablecoin legislation, and even Trump’s projects into the digital asset arena.
There has been so much change in political tone compared to past governments, which makes it easier and more predictable for crypto companies planning to grow and compete for institutional money.
In its most recent round of financing, in 2023, Bitgo was said to have a value of $1.75 billion, according to reports, in connection with raising $100 million in capital. And back to the underwriters, Goldman Sachs Group Inc., DRW Holdings, Redpoint Ventures, and Valor Equity Partners are all backers of the digital asset custody powerhouse.
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