Update (July 25, 4:39 pm UTC): This article has been updated to include a response from Wise.
Payments company Wise will to change its strategy for applying for a charter license with the US Office of the Comptroller of the Currency (OCC) to one “under a GENIUS Act framework,” the legislation to regulate stablecoins in the country.
According to a Thursday notice from Wise, the company plans to submit a new application for a national trust bank charter under a GENIUS Act framework. Investment banking group William Blair said that Wise will likely not shift its position on payment stablecoins with the new OCC application, despite being denied a charter to establish a national trust bank on Tuesday.
“Wise is focused on lowering the cost of cross-border transactions, agnostic of the rail,” said William Blair on the move to apply under GENIUS.
The OCC said in its rejection that the company could not show it had an effective Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) compliance program and had “other illicit finance activity risks.”
The GENIUS Act, signed into law in July 2025, offers a framework for payment stablecoin providers in the United States, pending finalized regulations to be approved by federal agencies. However, regulators missed a crucial deadline last week to provide guidance on implementation of the law before its effective date in January 2027.
Following the passage of the stablecoin bill, the OCC has approved several applications from digital asset companies for national trust charters, including Circle, Ripple Labs, Crypto.com and Coinbase.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Update (July 25, 4:39 pm UTC): This article has been updated to include a response from Wise.
Payments company Wise will to change its strategy for applying for a charter license with the US Office of the Comptroller of the Currency (OCC) to one “under a GENIUS Act framework,” the legislation to regulate stablecoins in the country.
According to a Thursday notice from Wise, the company plans to submit a new application for a national trust bank charter under a GENIUS Act framework. Investment banking group William Blair said that Wise will likely not shift its position on payment stablecoins with the new OCC application, despite being denied a charter to establish a national trust bank on Tuesday.
“Wise is focused on lowering the cost of cross-border transactions, agnostic of the rail,” said William Blair on the move to apply under GENIUS.
The OCC said in its rejection that the company could not show it had an effective Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) compliance program and had “other illicit finance activity risks.”
The GENIUS Act, signed into law in July 2025, offers a framework for payment stablecoin providers in the United States, pending finalized regulations to be approved by federal agencies. However, regulators missed a crucial deadline last week to provide guidance on implementation of the law before its effective date in January 2027.
Following the passage of the stablecoin bill, the OCC has approved several applications from digital asset companies for national trust charters, including Circle, Ripple Labs, Crypto.com and Coinbase.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Wise, a leading global cross-border payments provider, will submit a revised application for a U.S. national trust bank charter. This new move follows the Office of the Comptroller of the Currency’s (OCC) recent rejection of Wise’s initial request, but the company remains committed to growing its payment infrastructure and services in the U.S.
Regulatory roadblocks and the GENIUS ActWise originally filed for a national trust bank charter in June 2025, aiming for direct access to U.S. payment systems and a Federal Reserve Master Account. However, since the initial application, regulatory conditions have changed significantly. The OCC found that Wise’s plan no longer aligned with new Federal Reserve guidelines, which now restrict access to accounts for uninsured trust banks. As a result, Wise’s earlier strategy became unviable under current regulations.
Mini dictionary: OCC (Office of the Comptroller of the Currency), an independent bureau of the U.S. Department of the Treasury that regulates and supervises national banks and federal savings associations.
The regulatory landscape shifted further with the passage of the GENIUS Act on July 18, 2025. This law established a federal framework for payment stablecoins in the U.S. Wise now considers a fresh application under the GENIUS Act to be the most effective path forward, focusing on compliance with the newest requirements.
Wise stated it will not issue its own stablecoin and instead aims to improve interoperability between conventional payment systems and blockchains, in order to streamline global money flows and connect digital assets with traditional financial infrastructure.
The company emphasized the growing importance of stablecoins throughout the financial industry, noting that increasing numbers of companies are looking for infrastructure that enables integration of digital assets into established payment systems. Wise believes its technology and expertise are well placed to facilitate this transition.
Ongoing growth and service continuityCurrently, Wise serves 18.9 million active users globally. Over its fiscal year 2026, Wise processed $243.5 billion in cross-border payment volume and reported $2.5 billion in net revenue. The company continues to hold money transmitter licenses in 48 U.S. states and four territories, ensuring its ability to operate regardless of the OCC’s recent decision.
MetricFiscal 2026Active users18.9 millionCross-border payment volume$243.5 billionNet revenue$2.5 billionMoney transmitter licenses48 states, 4 territoriesAccording to investment firm William Blair, Wise’s recent actions do not represent a significant strategic shift. The company’s core objective remains lowering the cost of international transactions, while maintaining a neutral position toward stablecoin adoption.
Wise also outlined steps to enhance compliance and strengthen safety programs after past regulatory concerns referenced by the OCC in its July 21 letter. The company reported improvements in reporting systems and an expansion of compliance resources since its previous application.
Broader implications for the stablecoin sectorThe GENIUS Act has attracted attention from other financial firms to the stablecoin sector as well. Wise’s updated application is seen as a potential test case for the new regulatory system, with both market participants and regulators closely monitoring the developments.
In the meantime, Wise continues to advance its main business focus—helping individuals and organizations move money internationally with greater efficiency. The company’s next steps may provide important insights into bridging the gap between traditional finance and digital assets under the evolving U.S. regulatory environment.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
The regulator cited money-laundering risk concerns in a rare rejection amid a wave of crypto charter approvals. Wise plans to refile under the GENIUS Act.
The Office of the Comptroller of the Currency denied Wise's application for a US national trust bank charter, the payments company said Friday, a rare public rejection from a regulator that has spent the past eight months approving trust charters for crypto and fintech firms.
Wise shares fell as much as 10% on Nasdaq, where the company moved its primary listing from London in May.
The OCC's decision letter said the application presented "significant supervisory and compliance concerns" and that Wise's proposed management and board had "demonstrated a persistent inability" to manage money-laundering and terrorist-financing risks, according to Law360, which reviewed the letter.
Wise said it plans to submit a new application "under a GENIUS Act framework, as we continue to maintain a positive relationship with the agency," and that the denial does not affect its US operations, which run on money transmitter licenses across 48 states and four territories.
Application Overtaken by EventsWise filed in June 2025 to charter Wise National Trust, N.A., a nondepository trust bank that would have given the company direct access to Federal Reserve payment rails instead of routing through partner banks. A month later, US state regulators hit Wise with a multi-state consent order over compliance failures — an action the company acknowledged in Friday's statement.
The application also depended on a Fed master account. "With the Federal Reserve generally pausing account access for an uninsured trust bank, the approach in our application became non-viable," Wise said.
Bank lobby groups had pushed for the rejection: the Bank Policy Institute and the Independent Community Bankers of America both filed letters opposing the charter in October. Belgian authorities opened a money-laundering investigation into Wise in June over roughly $500 million in suspicious transactions, according to Finance Magnates.
An Outlier in the Charter WaveThe denial cuts against the OCC's recent record under Comptroller Jonathan Gould. The agency granted conditional approvals to Circle, Ripple, Paxos, BitGo, and Fidelity Digital Assets in December, followed by Coinbase in April. Circle received final approval to open its national trust bank on July 10.
More than a dozen applications remain pending at the OCC, including from Revolut, World Liberty Financial's trust company, and Kraken parent Payward. Wise no longer appears on the pending list.
Wise said its infrastructure is "well positioned to play an important interoperability role" as stablecoins gain ground alongside existing payment rails. The company reported more than $240 billion in cross-border volume and about 19 million customers in fiscal 2026.
Wise Group, the London-listed fintech formerly known as TransferWise, is heading back to the drawing board after the Office of the Comptroller of the Currency denied its application for a national trust bank charter on July 23, 2026.
The company says it will resubmit under the framework created by the GENIUS Act, the federal stablecoin law signed just days before Wise originally filed its application last year.
Investors were, predictably, not thrilled. Wise shares dropped as much as 11% on the news.
What happened and why it matters Wise first submitted its charter application in June 2025, seeking to become a nationally chartered trust bank. For Wise, it would have meant direct access to US payment rails without relying on a patchwork of state-by-state licenses.
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The denial was tied to compliance concerns stemming from a multi-state consent order on anti-money laundering protocols that surfaced in July 2025.
Wise processed over $240 billion in cross-border payment volume during FY2026, serving approximately 19 million customers. It already operates across 48 states and four territories. And it reported more than $3 billion in customer savings during the same fiscal year.
The GENIUS Act angle The GENIUS Act, signed into law on July 18, 2025, created the first comprehensive federal regulatory structure for payment stablecoins. Crucially, the law allows uninsured national trust banks to issue stablecoins, opening a door that didn’t previously exist.
Wise’s decision to anchor its new application to the GENIUS Act framework signals that the company sees stablecoins not as a sideshow but as a core part of its future US strategy.
The compliance elephant in the room Consent orders are not suggestions. They’re legally binding agreements that require companies to make specific, verifiable improvements to their compliance programs.
Wise executives have signaled confidence that their compliance enhancements will position the company favorably for a second attempt. The compliance upgrades required by the consent order should, in theory, bring Wise’s AML infrastructure up to the standard the OCC expects from a nationally chartered institution.
The OCC has shown no appetite for cutting corners. The agency denied Wise’s application despite the company’s scale and market position.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Wise plans to submit a new application for a national trust bank charter in the U.S. under the GENIUS Act stablecoin framework after the Office of the Comptroller of the Currency denied its original application, according to a William Blair note on Friday.
The OCC said that Wise's application was incompatible with new Federal Reserve policies regarding payment system Master Account access.
Reuters reported that Wise would reapply on Friday. The OCC’s denial was made in a July 21 letter.
"While approval would have represented a step towards a connection to U.S. domestic rails, we understand the Fed has essentially halted the granting of master accounts, as it develops policies for 'payment accounts' that were formally proposed in May 2026," William Blair analysts Cristopher Kennedy and Marc Feldman wrote.
The OCC, along with other major financial regulators in the U.S., has radically reshaped its approach to oversight during President Donald Trump’s second term.
Last December, the OCC granted conditional approvals to banking charter applicants including entities affiliated with BitGo, Circle, Fidelity, Paxos and Ripple, which intend to provide stablecoin services. That same month, BitGo was granted full approval to convert its state trust company into a federally regulated entity.
Since then, Crypto.com, Coinbase and Nomura-backed Laser Digital National Trust Bank have received conditional approval, while Sony Bank subsidiary Connectia was approved. Upstart received conditional approval for Upstart Bank, which is focused more on AI than digital assets.
Many other crypto firms and traditional financial giants that are increasingly interested in stablecoins, like Morgan Stanley and Charles Schwab, have started their OCC application processes.
Circle won official charter status earlier this month, joining BitGo and Anchorage Digital, which had for years been the only crypto firm holding a national trust charter, granted in 2021.
Meanwhile, the Federal Reserve Bank of Kansas City approved a limited-purpose “master account” for Wyoming-chartered bank Kraken Financial in March, making it the first crypto firm with direct access to Fed payment rails like Fedwire.
The GENIUS Act passed in the summer of 2025, offering set rules for so-called “payment stablecoins,” or assets designed to keep a peg to the U.S. dollar by keeping safe reserves like cash or Treasuries in custody.
Of note, Reuters reported that Wise’s denial addressed specific historical compliance concerns, including a July 2025 multi-state consent order over anti-money laundering risk management issues that Wise says it has since strengthened.
Wise’s initial plan also relied on having a Fed Master Account, which was made non-viable by the Fed’s formal proposal for limited "payment accounts" that included a temporary pause on Tier-3 access requests by (uninsured, non-federally supervised entities.
Wise said its infrastructure is built to interoperate with both blockchain and traditional payment rails, though the firm remains agnostic on stablecoins, Reuters reported.
"Although Wise plans to submit a new application under a Genius Act framework, we do not anticipate a major shift in the company's stance on stablecoins — Wise is focused on lowering the cost of cross-border transactions, agnostic of the rail," William Blair said.
William Blair reiterated its Outperform rating on WISE, saying its discounted cash flow (DCF) "implies at least a $19 stock price."
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Key Highlights Wise shares advanced 8% following FY26 results that exceeded the firm’s profit margin guidance Pre-tax income reached $660.4 million with a 26.4% margin — surpassing the 20–25% target corridor Net revenue expanded 19% annually to $2.50 billion The company unveiled a $500 million share buyback initiative for FY27 Customer base expanded 21% to 19 million users; cross-border transaction volume surged 31% to $243.5 billion Shares of Wise (WSE) climbed approximately 8% on Friday following the fintech firm’s release of annual financial results that exceeded profit margin projections, complemented by the announcement of a $500 million share repurchase initiative.
Wise Group plc Class A Ordinary Shares, WSE
The shares were changing hands at approximately 894p on the London Stock Exchange during morning trading, representing a gain of 64 points.
The payment platform reported net revenue reaching $2.50 billion for the fiscal year concluding March 31, 2026, marking a 19% year-over-year increase. Pre-tax income totaled $660.4 million, translating to a margin of 26.4%.
This profitability metric exceeded the company’s medium-term guidance corridor of 20–25%, capturing investor attention.
BofA analysts, maintaining a buy rating with a $16.40 price objective, noted that pre-tax profit exceeded their projection by 6.6% and consensus estimates by 1.3%.
The analysts identified a $70 million non-recurring U.S. GAAP foreign exchange adjustment linked to specific government bonds as the primary factor impacting operating income, which settled at $590.7 million.
The platform’s active user base expanded 21% to 19 million. Cross-border transaction volume increased 31% to $243.5 billion, while the cross-border take rate remained at 0.52%, declining six basis points year-over-year.
Card expenditure grew 37% to $43.6 billion. Customer balances increased 40% to $39.0 billion — indicating that more clients are maintaining funds on the platform for regular usage rather than solely for transfers.
Transaction-based revenue totaled $1.89 billion. Net interest income added $609.2 million to overall net revenue after distributing $196.9 million in interest payments to account holders.
CEO Kristo Käärmann emphasized that 75% of transactions in Q4 were processed in under 20 seconds worldwide — a metric the company prominently features in its competitive positioning.
Share Repurchase and Shareholder Returns Wise announced plans to allocate over $500 million toward share buybacks during FY27. Approximately 40% of this amount will support its ongoing Employee Share Trust initiative to counterbalance dilution from equity-based compensation.
The firm separately deployed $470 million to repurchase 35.9 million shares throughout FY26.
BofA increased its FY27 diluted earnings per share forecast by 5.7% to 54.34 cents, citing improved gross profit margins and the buyback program as key contributors.
Fiscal Year 2027 Guidance Looking ahead, Wise projected net revenue growth near the midpoint of its 15–20% medium-term target range, calculated on a constant currency basis.
This forecast assumes no significant changes in interest distributed to customers and no substantial movements in central bank policy rates.
Pre-tax income margin is anticipated to land near the upper boundary of the 20–25% range for FY27.
Wise finalized its transition to a Nasdaq primary listing on May 8, maintaining a secondary listing on the London Stock Exchange.
The firm disclosed that it established new direct payment connections in Brazil and Japan during FY26 and secured fresh regulatory approvals in South Africa, the UAE, and Thailand.
New Wise Platform collaborations launched during the period include UniCredit, Raiffeisen Bank, and MBSB Bank, with Capitec coming onboard in April 2026.
Three low-cap altcoins slated for delisting by the world’s largest exchange, Binance, experienced sharp price surges on September 10.
BakeryToken (BAKE), Hifi Finance (HIFI), and Self Chain (SLF) initially plummeted following the delisting notice but rebounded dramatically today, defying expectations amid heightened volatility.
BAKE, HIFI, and SLF Prices Rise: Here’s Why?On September 3, BeInCrypto reported on Binance’s decision to cease trading support for these tokens effective September 17. The exchange cited routine reviews and compliance requirements, explaining that these assets no longer met its listing standards.
“At Binance, we periodically review each digital asset we list to ensure that it continues to meet a high level of standard and industry requirements. When a coin or token no longer meets these standards or the industry landscape changes, we conduct a more in-depth review and potentially delist it,” Binance stated.
The announcement initially battered prices. BAKE fell 20.26%, SLF dropped 25.27%, and HIFI declined 7.36%. This reflected investor panic over reduced accessibility and liquidity on Binance, which remains the largest crypto exchange by volume.
However, the story took an unexpected turn today. All three tokens saw synchronized price surges during early Asian market hours. Moreover, they peaked around the same time before modest corrections set in.
The biggest mover of the trio, BAKE, rose from $0.036 to $0.11. This represented a 205.5% appreciation. Even after correcting to $0.10, it maintained gains of 177%.
SLF followed, climbing from $0.024 to $0.050, a 108.3% rise. By press time, the altcoin had stabilized at $0.038, up by approximately 58%.
Lastly, HIFI gained more modestly. The coin advanced from $0.058 to $0.094—a 62.1% increase. After pulling back, it traded at $0.080, marking a 35.4% appreciation.
BAKE, SLF, and HIFI Price Rises Today. Source: TradingViewNotably, the majority of the trading activity for all three tokens originated from Binance. CoinGecko data showed that BAKE’s daily trading volume skyrocketed by 2,541.2% to $269.54 million in the past 24 hours. Binance pairs were the clear leaders, with BAKE/USDT accounting for 38.53% of trades and BAKE/TRY for 19%.
SLF saw its volume surge 658.50% to $56.15 million. Again, Binance trading pairs dominated. The SLF/USDT pair captured 30.23% of the activity, while SLF/TRY commanded an even larger 38.61%.
HIFI posted a 648.8% rise in trading volume, reaching $44.38 million. The HIFI/USDT pair on Binance accounted for nearly 43% of this total.
Analysts Warn of ‘Exit Liquidity’The synchronized timing of the price jumps and pumped volumes has raised questions about what’s driving the sudden surge. Crypto analyst Wise Advice noted on X that short positions—bets against the tokens—combined with low liquidity, triggered violent upward pressure as shorts covered amid rising prices.
Another analyst claimed that the same manipulative group is orchestrating a pump-and-dump for all three tokens. The rise in BAKE, SLF, and HIFI mirrors patterns observed with Alpaca Finance (ALPACA).
BeInCrypto highlighted that the token’s value quadrupled after a Binance delisting announcement. Nevertheless, ALPACA plunged afterward, with the losses amplified by Alpaca Finance’s closure.
Thus, despite today’s rally, the long-term prospects for BAKE, SLF, and HIFI remain uncertain. Once delisted from Binance, these tokens will lose their most liquid marketplace and be forced to rely on smaller exchanges. Historically, assets in similar situations have struggled to maintain visibility and investor interest after being removed from major platforms.
On Wednesday, Bitcoin soared above $82,000, but the next day, it dropped below the crucial $80,000 mark. On Thursday, the first spot Bitcoin ETF established by a US bank, Morgan Stanley Bitcoin Trust ETF (MSBT), had modest inflows of $7.3 million. As Bitcoin fell below $80,000, US-listed spot Bitcoin (BTC) ETFs ended a five-day influx of roughly $1.7 billion. According to SoSoValue statistics, Bitcoin funds had their first daily outflow in May of $277.5 million on Thursday.
According to Farside, the top two funds in terms of outflows were the Fidelity Wise Origin Bitcoin Fund (FBTC) with $129 million and BlackRock’s iShares Bitcoin Trust ETF (IBIT) with $98 million. In the midst of increased Bitcoin volatility, there was a dramatic shift in the flows into Bitcoin ETFs. On Wednesday, Bitcoin soared above $82,000, but the next day, it dropped below the crucial $80,000 mark.
Mixed Investor Sentiment On Thursday, the first spot Bitcoin ETF established by a US bank, Morgan Stanley Bitcoin Trust ETF (MSBT), had modest inflows of $7.3 million. Farside reports that since the fund’s introduction on April 8, 2026, there has been zero days of outflows.
With a 557% increase in client assets retained since debut, MSBT has amassed 2,920 BTC, valued at around $232.6 million. In addition to its flagship product, the Grayscale Bitcoin Trust (GBTC), the low-cost spot Bitcoin ETF known as the Grayscale Bitcoin Mini Trust ETF (BTC) was the only other Bitcoin fund to get inflows that day.
The 21Shares Canton Network ETF (TCAN), the first US-listed ETF to provide direct exposure to Canton Coin, the native utility token of the Canton Network, debuted on the Nasdaq with the Bitcoin ETF today.
After momentarily regaining “Neutral” the day before, the crypto market downturn sent the Crypto Fear & Greed Index into “Fear” on Friday at 38. The indicator is still much higher than its April average of 17 due to the 11% increase in Bitcoin over the last 30 days.
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Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.
Market maker giant Jane Street is again drawing intense attention in crypto markets, with experts claiming the firm’s “next target” may now be Ethereum (ETH).
The speculation comes after reports that Jane Street made several major adjustments to its positions during the week, following months of scrutiny tied to alleged trading manipulation connected to Bitcoin (BTC).
From Bitcoin Retreat To Ethereum Expansion Jane Street, one of Wall Street’s most active proprietary trading firms, reportedly reduced multiple Bitcoin-linked holdings in the first quarter (Q1) of the year, while meaningfully increasing its exposure to assets tied to Ethereum.
Jane Street’s position in BlackRock’s iShares Bitcoin Trust (IBIT) fell by 71% quarter-over-quarter to about 5.9 million shares, with a reported value near $225 million.
The firm also cut its stake in Fidelity’s Wise Origin Bitcoin Fund (FBTC), where holdings fell approximately 60% to around 2 million shares, valued at nearly $115 million at quarter-end.
The reduction also extended to Strategy (previously MicroStrategy). Jane Street’s Strategy holdings fell from about 968,000 shares in Q4 2025 to roughly 210,000 shares by the end of Q1. The reported value declined from close to $146 million to around $27 million.
But while the firm was dialing back Bitcoin exposure, it was simultaneously building its Ethereum footprint. Jane Street expanded its holdings in Ethereum ETFs, with positions in BlackRock’s iShares Ethereum Trust nearly doubling during the quarter.
The firm also added substantially to Fidelity’s Ethereum fund. Combined additions across the two ETH products were estimated at approximately $82 million.
Smaller Derivatives, Bigger Impact? The move is now being framed by analysts as a potential continuation of the same pattern some observers associate with Jane Street’s earlier Bitcoin-linked controversies.
Analysts at Bull Theory suggested that the firm behind a “daily 10 AM Bitcoin dump,” the same firm that was reportedly sued for insider trading in the $40 billion LUNA collapse, and the same firm with $567 million frozen by Indian regulators could now be targeting Ethereum.
Their central argument is that ETH may be easier to move than BTC, primarily because of market structure and scale. Bull Theory pointed out that Bitcoin futures open interest stands at roughly $60 billion, while Ethereum’s is slightly more than half at about $34 billion.
The thesis is that a smaller derivatives market can make it possible to influence price with a smaller amount of capital. They also emphasized relative market size, noting that ETH’s market cap is $273 billion compared to BTC’s $1.6 trillion. Under their logic, the same amount of capital would create 6 times greater price impact in ETH.
The analysts also argued that the Ethereum ETF market is still relatively early. They claimed that Bitcoin ETFs hold roughly 6.67% of all circulating BTC supply, while Ethereum ETF penetration is lower, meaning there may not yet be the same institutional “demand floor” to absorb coordinated selling.
Their conclusion was pointed: they believe the rotation into Ethereum is not happening primarily because Jane Street is forecasting bullish fundamentals for ETH, but because Ethereum is “easier to move.”
The daily chart shows ETH’s attempt to reclaim the key $2,300 level as support. Source: ETHUSDT on TradingView.com At the time of writing, ETH was trading at around $2,292, with almost no change from Wednesday’s price. Meanwhile, other assets such as Bitcoin and XRP saw gains of around 2% and 4% respectively during the same period.
Featured image created with OpenArt, chart from TradingView.com
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
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Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
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Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
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US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
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US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
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During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
The outflow on Friday added to the $1.55 billion that has been drained from the ETFs since May 14. The majority of the $2.7 billion in net inflows to the US Bitcoin ETF market this year have originated from IBIT. The US spot Bitcoin exchange-traded fund market is about to see net outflows for the year after six days of withdrawals that began on Friday. After Friday’s market loss of $105.2 million—$68.9 million for BlackRock’s iShares Bitcoin Trust (IBIT) and $36.3 million for Fidelity Wise Origin Bitcoin Fund (FBTC)—net inflows into Bitcoin ETFs for 2026 have decreased to $536 million.
Withdrawal Streak Shrinks 2026 Inflows The outflow on Friday added to the $1.55 billion that has been drained from the ETFs since May 14, when the last net inflow was reported, even though no other Bitcoin ETF based in the US saw a change in flows.
It is possible to gauge the level of institutional interest in Bitcoin and the flow of new money into the cryptocurrency market by looking at the net inflows into US spot Bitcoin ETFs. The first quarter saw a 70% reduction in Bitcoin ETF holdings at institutional market maker Jane Street and a 10% reduction at investment bank Goldman Sachs.
The majority of the $2.7 billion in net inflows to the US Bitcoin ETF market this year have originated from IBIT, however the industry as a whole is still seeing net inflows for 2026.
While most of its rivals have seen a decline in 2026, its inflows this year are not expected to surpass the $25 billion it received in 2025. So far in 2026, there have been net outflows from US-based spot Ether ETFs, and new altcoin ETFs have failed to meet the same level of demand as their predecessors.
The Morgan Stanley Bitcoin Trust ETF (MSBT) is one encouraging trend; it debuted on April 8 and has received $264 million in net inflows so far.
A diploma graduate who is passionate about digital currency and loves writing. He loves the concept of crypto and keeps himself up to date with the latest development and news of the crypto world.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
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Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
6 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
6 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
6 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
6 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
Bitcoin (BTC) starts its first full trading week with no new CME futures gap on the chart. The shift ends an eight-year market quirk that traders relied on to forecast short-term price targets.
The Chicago Mercantile Exchange (CME) moved its regulated cryptocurrency futures and options to around-the-clock trading on May 29. The change removed the weekend closure that had produced visible price gaps since Bitcoin futures launched in December 2017.
Why the CME Gap Mattered for Bitcoin TradersFor nearly nine years, CME Bitcoin futures closed every weekend while spot exchanges and offshore perpetual markets kept trading.
Any weekend move produced a chart gap when futures reopened. Price often returned to fill it within days or weeks.
Historical fill rates ranged from 70% to more than 90%. The pattern became one of the most watched short-term signals in crypto.
The structure also frustrated institutions, which could not adjust hedges over weekends on a regulated venue.
Bitcoin CME Futures. Source: X/Daan Crypto Trades “BTC Closed last weekend’s CME gap and is now trading in the big area between the other few remaining gaps. This weekend, 24/7 trading starts for the Bitcoin CME futures so there won’t be any new gaps created anymore going forward. The ones left standing will of course still sit there on the chart,” wrote analyst Daan Crypto Trades.
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What Changes Under Continuous TradingCME now runs Bitcoin, Ether (ETH), Solana (SOL), and six other contracts continuously. Daily maintenance windows run two minutes on weekdays and two hours on Saturdays.
The shift gives portfolio managers, ETF issuers, and corporate treasuries a regulated channel to hedge weekend exposure in real time.
“Client demand for risk management in the digital asset market is at an all-time high, driving a record $3 trillion in notional volume across our Cryptocurrency futures and options in 2025,” read an excerpt in the announcement, citing Tim McCourt, CME Group’s Global Head of Equities, FX and Alternative Products.
The expansion follows record activity across CME crypto products during 2025.
Bitcoin Volatility futures, a new contract tracking 30-day implied volatility, are scheduled to debut on June 1.
Where the Market Sits NowBTC traded near $73,441 on Sunday, down 3.7% on the week, after the quietest weekend in recent memory.
Bitcoin (BTC) Price Performance. Source: BeInCryptoThree legacy gaps stay open on the chart. Two sit above current price near $78,500 and $80,000, and one below in the $67,000 to $70,000 zone.
THE CME GAP ERA JUST ENDED🧵
CME Bitcoin futures will now trade 24/7 just like perps.
But $BTC still has 3 UNFILLED gaps left:
• $80K
• $78.5K
• Below $70K
And this is going live during active war tensions.
Here's what changes for you as a trader. pic.twitter.com/3bXlLx7hGV
— Wise Advice (@wiseadvicesumit) May 29, 2026 Whether those gaps still pull price action under continuous trading is the first real test of the post-gap era.
Early CME volume and open interest on Monday will signal how quickly institutions adapt their playbooks.
Belgian prosecutors have opened an investigation into Wise’s accounts over possible money laundering tied to fraud, drug trafficking, and corruption. The news sent the London-listed fintech company’s shares sliding sharply, rattling investors who had only recently started feeling comfortable with the company’s compliance track record.
The investigation lands at an awkward moment. Wise had just spent the better part of two years trying to clean up its regulatory image, completing a remediation plan with Belgian authorities and settling AML deficiencies in the US. Now, prosecutors in Brussels are poking around again, and the market is not exactly giving the company the benefit of the doubt.
Belgium has been a compliance headache before This isn’t Wise’s first brush with Belgian regulators. Back in 2022, the Belgian National Bank flagged that the company was missing proof-of-address documentation for hundreds of thousands of customer accounts.
Wise entered into a formal remediation plan and confirmed by late 2024 that it had completed the required fixes. The Belgian National Bank’s findings from November 2024 highlighted these earlier shortcomings, but the company appeared to be moving past the episode.
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The new investigation by the Brussels Public Prosecutor’s office takes things to a different level. Regulatory findings about missing paperwork are one thing. A criminal probe into whether accounts were used for money laundering connected to drug trafficking and corruption is quite another.
A pattern of regulatory settlements Belgium isn’t the only jurisdiction where Wise has had to answer uncomfortable questions about its compliance infrastructure. In July 2025, the company’s US subsidiary settled with six states for $4.2 million over deficiencies in its anti-money laundering program.
The $4.2 million US settlement covered AML program shortcomings, not allegations of actual criminal activity flowing through the platform. The Belgian investigation, however, raises the stakes considerably by drawing a direct line between Wise accounts and potential proceeds from serious crimes.
The broader fintech compliance reckoning Wise is not the only European payments company under the microscope right now. The Brussels Public Prosecutor’s office also opened a money-laundering investigation into Worldline’s Belgian unit on or around June 27, 2025, citing media allegations that the French payments processor had been processing payments for illegal activities. Worldline’s shares fell as much as 10% on that news, coming on top of earlier drops as steep as 38%.
The parallel investigations suggest a broader regulatory sweep across payment processors operating in Belgium.
For Wise specifically, the Belgian probe creates a credibility problem. The company had presented its completed remediation plan as evidence that it had turned a corner on compliance. A criminal investigation suggests that prosecutors believe there may be more to the story than outdated address records.
The key variable to watch is whether prosecutors ultimately bring formal charges or whether the investigation results in a settlement or remediation order. A settlement, even a large one, provides closure. Formal charges open up the possibility of restrictions on Wise’s Belgian operations, which could have knock-on effects across the company’s European business.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Wise plc, the London-listed international payments company formerly known as TransferWise, saw its shares crater on June 1 after the Bureau of Investigative Journalism reported that Belgian prosecutors had opened an investigation into the firm’s operations. The probe centers on allegations that Wise accounts were used to launder approximately €500 million, roughly $583 million, connected to fraud, drug trafficking, and corruption across multiple European countries.
Shares plummeted as much as 20% intraday before clawing back some losses. By the closing bell, the stock had settled around 9-15% lower.
What triggered the investigation The Belgian investigation was reportedly sparked by hundreds of cross-border judicial requests that flagged suspicious transactions flowing through Wise accounts. The scope is notable: €500 million in potentially illicit funds allegedly tied not just to garden-variety fraud, but to drug trafficking and corruption across European jurisdictions.
Wise Europe, the company’s EU operations arm, is headquartered in Belgium. Belgium serves as Wise’s gateway to the broader European market through the financial services passporting framework, which allows a firm regulated in one EU member state to operate across the bloc.
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Wise confirmed it is cooperating with the Brussels prosecutor’s office. The company characterized the engagement as part of routine regulatory interactions and noted that the queries are still incomplete, with no definitive findings reached.
This isn’t Wise’s first compliance headache in Belgium. Back in 2022, the National Bank of Belgium required the company to implement a remedial action plan to address gaps in customer verification and due diligence procedures. Those gaps reportedly affected hundreds of thousands of users.
The compliance track record The 2022 remedial action from the National Bank of Belgium required Wise to fix verification and due diligence processes affecting a large portion of its user base. Whether those fixes were sufficient is now, implicitly, the question Belgian prosecutors are asking.
What this means for investors The intraday drop of roughly 20% tells you how spooked the market was by the initial report. The partial recovery to a 9-15% loss by close suggests some investors saw the selloff as overdone.
Belgian prosecutors have not announced any formal charges or conclusions. Wise has emphasized cooperation and the absence of definitive findings.
If Belgian authorities determine that Wise’s controls were materially deficient, it could trigger enhanced scrutiny from regulators in other EU member states where Wise operates under its Belgian passport. A finding in Belgium doesn’t stay in Belgium when your entire European operation runs through Brussels.
Investors should watch for two things in the coming weeks: any formal communication from Belgian prosecutors about the scope and timeline of the investigation, and whether other European regulators initiate parallel reviews of Wise’s operations in their jurisdictions.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
PANews reported on June 1st that, according to City AM, cross-border remittance platform Wise is under investigation by Belgian prosecutors for allegedly violating anti-money laundering regulations due to its accounts being involved in the alleged transfer of approximately €500 million in illicit funds. The investigation involves hundreds of international criminal cooperation requests from over 30 European countries. Following the announcement, Wise's stock price fell by approximately 15% to 796 pence in London trading. The investigation focuses on Wise's European operations managed by its Brussels office, excluding approximately 3 million UK users. Wise stated that it is cooperating with Brussels prosecutors and regulatory and law enforcement agencies, and that about one-third of its employees are dedicated to combating financial crime. Previously, in 2025, Wise's US subsidiary was fined a total of $4.2 million by regulators in six states for compliance deficiencies.
PANews reported on June 4 that Lassie, an AI company founded by former Robinhood and Superhuman employees Steijn Pelle and Frédéric Renken, has completed a $35 million Series A funding round, led by a16z, with participation from Night Capital, the founder of Superhuman, the co-founder of Plaid, and the co-founder of Wise, bringing the total funding to $47 million.
Before writing the code, the two co-founders worked manually for months at a dental clinic, handling insurance claims and reconciliation payments. Lassie now operates in over 700 clinics across 49 states in the US, saving owners over 250,000 hours of administrative work annually. Alex Rampell, general partner at a16z, joined the Lassie board. Lassie's AI agent directly accesses the clinic's insurance portal, retrieving reimbursement data, reconciling accounts, updating system records, and verifying bank funds, completely replacing human intervention rather than adding a software layer.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
6 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
6 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
6 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
6 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
6 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
BlackRock launched the iShares Bitcoin Trust (IBIT) ETF on January 11, 2024, the same day that Fidelity launched its Fidelity Wise Origin Bitcoin Fund (FBTC). Despite launching on the same day, there is a huge gap between the two ETFs in terms of inflows, fees, and the assets under management (AUM).
BlackRock dominates other Bitcoin ETFs with the highest net assets of $47 billion, with Fidelity trailing at a far second with $11.30 billion in net assets.
IBIT’s dominance comes when institutional inflows towards Bitcoin ETFs could rise if the CLARITY Act gets approved before 2026 ends, hence the question: Can FBTC surpass IBIT in inflows and net assets, or will IBIT remain the biggest Bitcoin ETF on Wall Street?
A Deep Dive into BlackRock’s IBIT ETF IBIT started trading 30 months ago, and it has already amassed $47.95 billion in net assets, which accounts for 61% of all the net assets accumulated by all 13 Bitcoin ETFs that trade in the US.
CoinGape also reported that the SEC has approved a filing by BlackRock for a Bitcoin Premium Income ETF.
BlackRock’s IBIT ETF has also recorded $62 billion in cumulative inflows since it was launched, and this is six times higher than the second-largest BTC ETF by net assets.
This ETF charges a fee of 0.25% to investors to seek exposure to Bitcoin through it, and it closed trading on June 18 at a price of $35. The June 18 closing price marks a 50% from the 52-week high of $71.
The dropping Bitcoin price has also affected the returns on IBIT, with BlackRock’s official data showing that holders have seen negative returns of 18% in one year. However, investors who have held since inception on January 11 have a return of 21%.
IBIT Bitcoin ETF The chart above also shows that IBIT’s benchmark that compares the difference in performance with Bitcoin is at 0.27%, suggesting the ETF is giving almost the same returns as holding Bitcoin would.
IBIT’s Technical Analysis IBIT’s daily chart shows that the ETF opened the year trading at $50, and the 30% drop that has been seen since then has led to IBIT establishing support at $34.
The RSI reading of 35 shows that the momentum is bearish, and IBIT might continue dropping if the price of Bitcoin does not register an upside.
However, this RSI reading of 35 suggests that sellers might soon become exhausted, and that would give IBIT room to recover.
IBIT Price Chart The volume bars that have been red for four straight days confirm that sell-side pressure has indeed been behind IBIT’s drop in market price, and if this continues, the Bitcoin ETF might retest this support of $34.
Fidelity’s FBTC Bitcoin ETF Overview Fidelity’s FBTC is the second-biggest Bitcoin ETF with net assets of $11.30 billion and a cumulative net inflow of $10.46 billion per SoSoValue data.
FBTC holds 0.89% of Bitcoin’s market cap, and while it trails behind IBIT’s 3.79% share, Fidelity charges the same 0.25% fee on the ETF.
FBTC is listed on the CBOE Exchange, and it closed trading on June 18 at a price of $54 and that is a 50.9% drop from the 52-week high of $110.
FBTC Bitcoin ETF Fidelity says that FBTC offers 0.00087048 BTC per share, and that means that at the current price of Bitcoin of $64,000, an investor with 1 FBTC share holds $55 worth of Bitcoin.
Just like with IBIT, an investor who has held FBTC since it started trading in January 2024 has a return of 21%. However, FBTC’s loss of 30% in the last year is higher than IBIT’s loss of 18%.
FBTC’s Technical Analysis The daily chart for FBTC shows the ETF has dropped from $71 on May 11 to $35 at press time, and this mirrors Bitcoin’s drop from $82,000 on May 11 to $64,000 at press time.
The RSI of 35 shows that the momentum around FBTC is currently favoring bears, but the AO bars that are green but on the negative side show that these bears could be losing their grip.
FBTC Price Performance Compared to IBIT FBTC has established a support level of $52, but a move upward will only occur if bulls can push past the obstacle of $71.
Bitcoin Performance Relative to Bitcoin ETFs Spot Bitcoin ETFs have largely influenced Bitcoin price for the last 30 months, and the two biggest ones: IBIT and FBTC, have either sparked gains or drops.
IBIT flows have turned negative in the six months leading to June 2026, with outflows totalling $26 million per SoSoValue data. FBTC has seen the same performance, with $1.6 million in outflows within the same period.
The Bitcoin price chart shows that these outflows have pushed the price lower, with BTC moving from $87,000 in January 2026 to $64,000 in June 2026.
BTC Price Chart Zooming out on BTC’s chart to 2024, when the IBIT and FBTC ETFs started to trade, shows that the price of Bitcoin moved from $40,000 in January 2024 to $73,000 in March 2024, marking a 45% increase within three months.
That 2024 performance shows that the demand coming from institutions has assisted BTC’s price gains.
The RSI reading of 36 on Bitcoin’s weekly chart also suggests that the momentum is bearish as buy-side pressure fades, and this could be because fewer institutional investors are buying Bitcoin ETFs.
Which Bitcoin ETF Will Outperform? Both IBIT and FBTC track the price of Bitcoin, and that means that they give the same return depending on whether BTC is rising or dropping.
However, IBIT has the upper hand, and it is already outperforming FBTC in net assets and cumulative inflows. Its 61% market share will likely keep climbing because Fidelity does not have any advantage over BlackRock because the two ETFs charge the same fees.
Therefore, IBIT will likely outperform FBTC in net assets and inflows in 2026 as its market share dominance pulls in new investors.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
6 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
6 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
6 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
6 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
6 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
