Track market-moving stories before they get noisy

President Donald Trump’s cryptocurrency ventures have generated over $1 billion in income in 2025, according to his annual financial disclosure released on Tuesday.

WLFI, Memecoin Royalties Net A Windfall Trump’s income included over $520 million from the sale of tokens issued by World Liberty Financial, the cryptocurrency platform founded by his sons, and over $65 million from equity sales in WLFI’s holding company, WLF Holdco
LLC.

The filing disclosed $1.8 million in validator rewards generated from staked Ethereum (CRYPTO: ETH).

CIC Digital LLC, an affiliate of the Trump Organization that controls the ownership of Official Trump (CRYPTO: TRUMP) memecoin, reported collecting more than $635 million in royalties from so‑called "Celebration Coins.”

It’s worth adding that from its post-launch high in January 2025, the memecoin has declined by more than 97%.

The ‘Crypto President’The latest disclosure pointed to a sizable expansion in Trump’s cryptocurrency-related revenue streams. Last year’s disclosure recorded $57 million from those activities.

The first family’s foray into the cryptocurrency world has been lucrative. A June report estimated the family earned at least $2.3 billion from four cryptocurrency ventures since returning to the White House.

The ventures were promoted through social media and public appearances, and the Trumps licensed the family name rather than investing their own capital. The report mentioned that despite price declines, the family remained in profit while investors absorbed the losses.

Forbes now estimates Trump’s net worth to be $6 billion, a significant leap from $2.3 billion in 2024.

Price Action: At the time of writing, TRUMP was exchanging hands at $1.67, up 0.32% in the last 24 hours, according to data from Benzinga Pro.

Photo Courtesy: Joey Sussman on Shutterstock.com

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Jun 30, 2026, 9:00 p.m.

2 min read

Phantom CEO Brandon Millman. (Danny Nelson/CoinDesk))Summary

Phantom hired the team behind Ventuals, the project that recently shut down OpenAI and Anthropic perpetual futures on Hyperliquid.The hiring aims to boost Phantom's plans to "go deeper" on perpetuals and open markets as wallets increasingly evolve into trading platforms, CEO Millman said.Perpetual futures have become one of crypto's fastest-growing products, expanding beyond digital assets into traditional markets.The team behind one of Hyperliquid's highest-profile private-company trading projects has found a new home.

Crypto wallet Phantom said Tuesday it hired Alvin Hsia, Emily Hsia and Aris Samad, the creators of Ventuals, the project that shut down its OpenAI and Anthropic perpetual futures markets earlier this week.

The trio will join Phantom's trading and data teams, according to Phantom CEO Brandon Millman.

The move comes after Ventuals announced earlier this month it was winding down and joining another project within the Hyperliquid ecosystem, ending one of the exchange's most prominent experiments in trading private-company valuations onchain.

Perpetual futures have evolved from a crypto-native innovation into one of the industry's most important products. They are a type of derivative that allows investors to speculate on future price movements without putting an expiration date on that contract, allowing it to be held as long as the investor wants. Their around-the-clock trading, high liquidity and ability to track virtually any asset have made them a popular vehicle for everything from crypto speculation to bets on private companies and commodities.

The race is also spreading beyond crypto. Last month, prediction market operator Kalshi launched its own perpetual futures business after regulatory approval, joining exchanges betting that always-on derivatives will become a larger part of financial markets.

For Phantom, the hires are part of a broader push into trading.

Best known as one of crypto's largest self-custody wallets, Phantom has steadily expanded beyond asset storage into swaps, staking and derivatives as wallets increasingly compete to become full-service financial apps rather than simple interfaces for holding tokens.

The company said it has become the largest distribution partner in the Hyperliquid ecosystem and plans to deepen its focus on perpetual futures.

"Open markets have become a major focus for us," Millman wrote. "We've gone deep on perps, and we intend to go deeper."

Millman described Hyperliquid as "one of the best examples anywhere of what open markets make possible," pointing to its global liquidity and transparent onchain infrastructure.

Bringing on the Ventuals team will help Phantom accelerate its efforts to build trading products around the ecosystem, he said.

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Building the Zcash Machine: Tachyon and Quantum Readiness

Building the Zcash Machine: Tachyon and Quantum Readiness

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

18 hours ago

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Why it matters:

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

HYPE got its first U.S. exchange-traded fund in May, ran 16 straight days of inflows, then saw money walk out the door. The ETF is a new demand channel, but the first outflow is the first test of it.

Summary

Hyperliquid (HYPE) trades in the mid-$60s as of late June 2026, roughly 14% below its $76.67 record set on June 16, with a market cap near $14 billion to $16 billion and a fully diluted valuation around $60 billion. The Bitwise HYPE ETF launched on May 14, 2026, giving regulated investors a wrapper for HYPE exposure, after Bitwise had already listed a Hyperliquid staking product in Europe in April. The fund logged 16 consecutive days of inflows before its first daily outflow of nearly $3 million on June 5, a small figure in dollars but a notable turn in the early demand story. HYPE’s core engine is a buyback that routes 97% of protocol fees into purchasing and burning the token, which has retired over $1 billion of HYPE and pulled circulating supply below 300 million, working against a roughly 1.2 million monthly unlock to insiders. Forecasts run from Coinpedia’s high-$30s average to Arthur Hayes at $150, with prediction markets leaning toward HYPE clearing $80 by year-end, so the ETF flow and the buyback-versus-unlock balance, not any single target, will decide the path. In May 2026, Hyperliquid crossed a line that most tokens never reach: it got its own U.S. exchange-traded fund. The Bitwise HYPE ETF gave ordinary brokerage accounts and institutions a regulated way to hold exposure to one of the most talked-about assets in crypto. 

For 16 trading days, the money flowed in. Then, on June 5, it reversed, with the fund posting its first daily outflow of close to $3 million. The amount was tiny next to HYPE’s multibillion-dollar market cap, but the symbolism was real, and crypto.news flagged the turn at the time.

This piece looks at HYPE’s price through the lens of that ETF and its first outflow, which is a different question from whether HYPE can reach $100. It covers what the Bitwise fund changed, what the early outflow signals, the buyback engine the ETF flows into, the unlock overhang pulling the other way, the regulatory cloud overhead, where the chart sits, and what analysts and prediction markets expect. It closes with bull, base, and bear scenarios and a short FAQ.

The Bitwise ETF and why it mattered The Bitwise HYPE ETF debuted on May 14, 2026, pitched as targeted exposure to the infrastructure behind on-chain derivatives. It was not Bitwise’s first Hyperliquid product. In April, the firm listed a Hyperliquid staking exchange-traded product, BHYP, on Deutsche Boerse’s Xetra venue in Europe, one of a growing suite of staking vehicles.

Bitwise also leaned into Hyperliquid’s own transparency ethos, committing to publish the ETF’s wallet addresses so investors could verify the fund’s holdings on-chain rather than take them on trust.

The reason an ETF matters for price is access. A token that previously required a self-custody wallet or an offshore exchange suddenly becomes reachable through a regulated product that fits inside retirement accounts and institutional mandates. That widens the pool of potential buyers and, in theory, adds a steady bid that is less reactive than crypto-native flows.

For HYPE, which already carried a large following, the ETF was a credibility marker as much as a demand channel: it signaled that a serious asset manager judged the token investable enough to wrap and sell.

The catch is that an ETF is a pipe, not a pump. It makes buying easier, but it does not create demand on its own. The flows that move through it can run in either direction, and that is exactly what the first month showed.

The first outflow, and what it signals For 16 straight sessions after launch, the Bitwise HYPE ETF took in money. That streak was the bullish read in action: regulated demand arriving day after day, exactly the steady bid the ETF was supposed to deliver. Then on June 5, the fund recorded its first daily outflow, nearly $3 million leaving in a single session. In dollar terms, it was almost nothing against a market cap in the tens of billions. As a signal, it carried more weight than its size.

The outflow is best read as the first test of the ETF demand story rather than its failure. It coincided with HYPE pulling back from its mid-June record and the broader market sliding into a risk-off, extreme-fear posture, so some of the selling was almost certainly market-wide rather than HYPE-specific. But it punctured the clean narrative of one-directional institutional accumulation. ETF flows, it turned out, would ebb and flow with sentiment like everything else, and that makes them a variable to track instead of a guaranteed tailwind.

For the forecast, the practical point is that ETF flow is now one of the clearest real-time gauges of institutional appetite for HYPE. A return to sustained net inflows would confirm the bull thesis that regulated demand is building. A pattern of choppy or net-negative flows would suggest the early enthusiasm has cooled, and that the price has to lean on its other engines instead.

The buyback engine the ETF flows into What makes HYPE structurally unusual is where its trading fees go. Roughly 97% of the protocol’s fees feed an Assistance Fund that continuously buys HYPE on the open market and burns it. This is not a promise of future buybacks; it is a live mechanism funded by real activity. Cumulative buybacks have passed $1 billion; the program has burned around 4.17% of total supply, pushing circulating supply below 300 million tokens. The platform’s daily revenue has run near $2.5 million, HyperEVM transaction fees have set records, and cumulative trading volume has crossed $4.15 trillion.

The ETF and the buyback connect in a way that matters for price. The buyback is powered by trading volume, because more volume means more fees and therefore more HYPE bought and burned. The ETF, by widening the holder base and supporting the token’s profile, can indirectly feed the system if it helps sustain attention and activity on the platform.

The product expansion compounds the same way: the FOMO app launched on June 11, letting users trade perpetuals across equities, pre-IPO stocks, crypto, indices, and commodities from one interface, while HIP-3 and HIP-4 push the platform toward prediction markets and options. Each new market is a potential new source of the fees that drive the burn.

The bull case in one line is that this engine eats its own supply faster than the unlocks can replace it. The more the platform grows, the more it buys back, and the thinner the float becomes. The ETF is one more on-ramp pointed at that engine.

The unlock overhang pulling the other way Against the buyback sits the supply schedule. Only about 27% of HYPE’s roughly 953 million to 1 billion maximum supply is in circulation, which means a large share is still locked and scheduled to come to market over years. Roughly 1.2 million HYPE per month is distributed to team members and early backers, a steady stream of new sellable supply that the buyback has to absorb just to stay even.

The fully diluted valuation near $60 billion is the number the skeptics point to: it implies a very large eventual supply, and the gap between the circulating market cap and the FDV is the overhang the market has to digest over time.

This is the tug-of-war that defines HYPE. The buyback pulls supply off the market and burns it; the unlocks push new supply on. ETF inflows can tilt the balance toward demand; ETF outflows tilt it back. The reason forecasts vary so wildly is that the outcome depends on which side wins, and that in turn depends on whether platform volume keeps growing fast enough to keep the burn ahead of the unlocks. No model can know that in advance, which is why honest analysis tracks the variables instead of betting the house on a single price.

The regulatory cloud HYPE carries a regulatory question mark that the ETF does not erase. In one episode, Singapore’s monetary authority added Hyperliquid to its Investor Alert List, a reminder that a permissionless derivatives venue draws scrutiny from regulators who worry about access and oversight.

Hyperliquid also operates in a legal gray zone in some jurisdictions, including restrictions affecting users in the United States, and the traditional derivatives establishment has been pressing regulators to bring platforms like it under tighter rules, citing concerns about manipulation and permissionless markets.

For the price, regulation cuts both ways. A clear, favorable framework would remove an overhang and could unlock broader access, especially in the United States where the platform’s reach is constrained. A crackdown, or even sustained uncertainty, could cap institutional participation and weigh on the very ETF demand the bull case depends on. The ETF brings HYPE closer to the regulated world, which is a benefit when the rules are friendly and a liability when they are not.

Where the chart and the price sit HYPE trades in the mid-$60s as of late June, roughly 14% below the $76.67 all-time high set on June 16. The price history is a story of violent moves: the token launched near $7.56 in November 2024, climbed to about $35 by year-end, peaked near $59 in September 2025, then corrected hard to the $21 to $26 range in early 2026 with a February low around $21. From there it built a long base and broke out through the $50 to $52 zone in June, ran to its record, and pulled back. That $50 to $52 area now reads as structural support, the floor the breakout set.

Hyperliquid price chart | Source: crypto.news The short-term picture is post-record consolidation. After a sharp run to a new high, the token is digesting gains, with momentum cooled from its peak. The bullish structural read is that the correction is happening while the platform’s fundamentals, volume, revenue, and fees keep setting records, which is the opposite of a top built on fading activity.

The bearish read is that a second failed push at the high would raise doubts and open the door back toward the low-$50s support. Reclaiming and holding above the record is what would put price discovery back in play.

What analysts and prediction markets expect Third-party forecasts for HYPE span an enormous range, which reflects the genuine uncertainty in the buyback-versus-unlock outcome. These are external projections, offered as a spread of views instead of targets this publication endorses.

On the cautious side, Coinpedia’s 2026 model runs from roughly $19.85 to $54.87 with an average near $37, and Cryptopolitan points to a peak around $58 with a separate analysis near a $40 average. In the middle, several views see a return toward or past the all-time high if adoption continues.

At the bullish extreme, Arthur Hayes has floated $150 by August 2026, premised on the buyback, organic volume growth, and the prediction-market and options expansion all firing together, while Multicoin Capital argues for $319 by 2028 on the thesis that the market underrates Hyperliquid as an emerging “everything exchange” instead of just a perpetuals venue. Prediction markets in mid-2026 leaned toward HYPE clearing $80 before year-end, with a smaller share betting on $100 and bets on a drop below $50 carrying meaningful odds.

The spread, from the high $30s to $150 in the same year, is the point. It is not noise; it is an honest map of how much depends on volume, flows, and regulation. The ETF is one input into that map, not the whole territory.

How HYPE’s ETF compares with the Bitcoin and Ether funds The clearest way to read the Bitwise HYPE ETF is against the template set by the Bitcoin and Ether funds that came before it. Those products showed the playbook: a regulated wrapper opens a corridor for capital that cannot or will not touch spot crypto directly, and once that corridor exists, an asset stops being treated as a fringe speculation and starts being treated as an allocatable holding.

The Bitcoin funds in particular showed how powerful steady, structural inflows can be when they arrive day after day from advisers and institutions instead of from reactive crypto traders.

HYPE inherits that template, but with important differences that cut against a clean comparison. It is far younger and far smaller than Bitcoin or Ether, which makes its ETF flows more volatile and more capable of moving the underlying price in both directions. Its fully diluted valuation near $60 billion sits well above its circulating market cap, so the supply overhang is larger and more present than it was for the major assets when their funds launched. And HYPE’s regulatory standing is less settled, which caps how aggressively some institutions can participate.

The European staking product, BHYP on the Xetra venue, adds a second access point and a yield angle that the early Bitcoin funds lacked, but it does not change the core asymmetry: a smaller, younger token feels ETF flows more sharply than a trillion-dollar asset does.

The takeaway is that the ETF is a genuine structural positive that should not be mistaken for a guaranteed one. For Bitcoin, the funds eventually delivered sustained net demand. For HYPE, the first month already showed flows can reverse, so the corridor is open but the traffic through it is not yet proven to run one way.

What to watch: the metrics that decide HYPE For readers tracking HYPE instead of reacting to each candle, a handful of metrics will signal which scenario is unfolding. The first and most direct is ETF flow direction. Sustained net inflows would confirm the bull thesis that regulated demand is building, while a pattern of choppy or negative flows, in the vein of the June 5 outflow, would suggest the early enthusiasm has cooled, and the price must lean on its other engines.

The second is weekly trading volume and fee revenue, because those power the buyback. As long as volume keeps setting records and fees keep feeding the Assistance Fund, the burn stays strong, and supply keeps tightening. A slowdown in volume would weaken the buyback at the worst possible time, just as fresh unlocks arrive.

The third is the unlock pace itself, roughly 1.2 million HYPE a month to insiders, and whether the buyback is retiring tokens faster than the schedule releases them. The fourth is regulation: any movement on the U.S. access question or follow-through on alerts like the one from Singapore’s authority would shift the institutional calculus quickly.

The fifth is the chart structure around two levels. Reclaiming and holding above the $76.67 record would put HYPE back into price discovery and validate the optimistic targets, while losing the $50 to $52 breakout support would confirm the post-record correction has turned into something deeper.

Tracked together, these five say more about HYPE’s path than any single forecast, because they map directly onto the buyback-versus-unlock tug-of-war that the ETF flows now sit on top of. The ETF made HYPE easier to buy. These metrics decide whether buyers keep showing up.

Bull, base, and bear scenarios for HYPE The scenarios below combine the ETF flow story with the buyback, the unlocks, and the regulatory backdrop. They are illustrative ranges drawn from the external forecasts and current structure, not guarantees.

Bull case In the bull scenario, ETF flows turn decisively net positive again after the early wobble, confirming that regulated demand is building. Platform volume keeps climbing as the FOMO app, prediction markets, and options add fee sources, so the buyback accelerates, and the burn stays ahead of the roughly 1.2 million monthly unlocks. Regulation breaks favorably, easing the access overhang. HYPE reclaims $76.67, enters price discovery, and runs toward the optimistic targets in the $90 to $150 range that Telegaon and Arthur Hayes describe, with the “everything exchange” thesis supporting a higher multi-year path. This case needs volume growth to outrun the unlocks and the regulatory cloud to lift.

Base case In the base scenario, the ETF settles into choppy flows that neither confirm nor break the demand story, and the buyback roughly offsets the unlocks without overwhelming them. HYPE holds its $50 to $52 breakout support and trades in a wide band beneath the record for much of the year, with the average landing somewhere around the high $30s to high $50s that the cautious Coinpedia and Cryptopolitan models bracket, punctuated by sharp moves in both directions as sentiment shifts. The fundamentals stay strong, but the supply overhang and regulatory uncertainty cap sustained upside. This is the “strong business, range-bound token” outcome.

Bear case In the bear scenario, ETF outflows persist and signal that institutional enthusiasm has cooled, while a risk-off market and any regulatory escalation, building on the MAS alert and U.S. access concerns, weigh on demand. Platform volume slows, the buyback weakens just as fresh unlocks arrive, and the FDV gap reasserts itself. HYPE loses the $50 to $52 support and slides toward the low-$30s or below, in line with the bottom of the cautious forecast range. In this case, the buyback cannot keep pace with the unlocks, and the ETF that was supposed to be a tailwind becomes a visible scoreboard for fading demand.

Frequently Asked Questions When did the Bitwise HYPE ETF launch? The Bitwise HYPE ETF debuted on May 14, 2026, offering regulated exposure to Hyperliquid’s token. Bitwise had earlier listed a Hyperliquid staking product, BHYP, on Deutsche Börse’s Xetra venue in Europe in April 2026. The firm also committed to publishing the fund’s wallet addresses so investors could verify holdings on-chain.

What was the first HYPE ETF outflow, and does it matter? After 16 consecutive days of inflows, the Bitwise HYPE ETF recorded its first daily outflow of nearly $3 million on June 5, 2026. The dollar amount was small relative to HYPE’s market cap, and it coincided with a broad risk-off pullback, so it was not a HYPE-specific collapse. It matters as a signal: it showed ETF flows will move with sentiment, making them a variable to track instead of a guaranteed source of demand.

How does the HYPE buyback work? Roughly 97% of Hyperliquid’s protocol trading fees flow into an Assistance Fund that buys HYPE on the open market and burns it. Cumulative buybacks have passed $1 billion, around 4.17% of supply has been burned, and circulating supply has fallen below 300 million. The buyback is powered by trading volume, so more platform activity means more buying and burning.

What is the main force working against HYPE’s price? The main counterweight is the token unlock schedule. Only about 27% of the maximum supply circulates, and roughly 1.2 million HYPE per month is released to team members and early backers. That steady new supply, plus a fully diluted valuation near $60 billion, is what the buyback has to absorb. The balance between buyback and unlocks is the central question for the price.

Is HYPE affected by regulation? Yes. Singapore’s monetary authority placed Hyperliquid on its Investor Alert List, and the platform operates in a legal gray zone in some jurisdictions, including restrictions affecting U.S. users. Favorable rules could broaden access and support ETF demand, while a crackdown or prolonged uncertainty could limit institutional participation and weigh on the price.

What do forecasts say HYPE could reach? External forecasts vary widely. Coinpedia’s 2026 range runs from about $20 to $55 with an average near $37, and Cryptopolitan points to a peak around $58. More bullish views include Arthur Hayes at $150 by August 2026 and Multicoin Capital at $319 by 2028. Prediction markets leaned toward HYPE clearing $80 by year-end. The wide spread reflects how much depends on volume, ETF flows, and regulation.

Disclaimer: This article is for information purposes only and does not constitute financial, investment, or trading advice. Cryptocurrency prices are highly volatile, and price predictions are speculative estimates that may not occur. Nothing here is a recommendation to buy or sell any asset. Always do your own research and consider consulting a licensed professional before making financial decisions. Figures are accurate as of June 30, 2026, and will change.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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A Pump.fun token airdropped to a famous trader’s wallet is up tens of thousands of percent in days. Here is the honest version: this is a high-risk memecoin with no product, and most tokens like it go to zero.

Summary

The Black Bull (ANSEM) is a Solana memecoin launched on Pump.fun in mid-June 2026, trading near $0.13 with a market cap around $56 million after a move of roughly 26,000% in a week. The token was not created by the trader it is named after. An anonymous developer airdropped a large share of the supply to the wallet of Ansem, a well-known Solana influencer, who later embraced it rather than launching his own coin. There is no product, roadmap, team, or revenue behind the token. Its price is driven entirely by attention, one influencer’s involvement, and speculative trading, which makes it a casino bet, not an investment. On-chain analysis tools have flagged manipulation risk and heavy holder concentration; liquidity is thin relative to the market cap, and the trader associated with it has faced market-manipulation allegations. Third-party forecasts that exist for ANSEM are wide and speculative, spanning roughly $0.03 to $0.25, and the most realistic base case for any token of this type is a sharp drawdown, with a real chance of going to near zero. Before anything else, the blunt version. The Black Bull, traded under the ticker ANSEM, is a memecoin. It has no underlying business, no cash flows, and no roadmap that would anchor a valuation. Its price exists because a famous trader is associated with it and the internet is paying attention.

Tokens like this can produce life-changing gains and total losses inside the same week, and the overwhelming majority of Pump.fun launches lose nearly all their value, many within a single day. Any “price prediction” for an asset like this is closer to handicapping a roulette spin than forecasting a company. Read the rest with that frame fixed in place.

This piece explains what The Black Bull actually is, the numbers behind its move, why it is a casino rather than an investment, the bull thesis stated fairly, the specific ways it could go to zero, what the few forecasters tracking it say, and then bull, base, and bear scenarios. It closes with a short FAQ.

What The Black Bull (ANSEM) actually is The Black Bull is a Solana token launched on Pump.fun, the memecoin launchpad, around June 16 to 17, 2026, with the on-chain contract address ending in “pump” as Pump.fun tokens do. The story that gave it life is specific. An anonymous developer created the token and airdropped a large portion of the supply, by some accounts around 65%, directly to the wallet of Ansem, a prominent Solana trader and influencer also known by the handle blknoiz06, whose real name is Zion Thomas. Ansem is one of the best-known memecoin personalities on Solana, with roughly a million followers and a reputation as an early caller of tokens like WIF and BONK.

Crucially, Ansem did not create the token, and it is not officially his project. The developer essentially bet that putting the supply in a famous wallet would manufacture attention. It worked. Rather than dump the airdrop or launch a competing coin of his own, Ansem leaned in, reportedly pledging to airdrop creator fees back to holders instead of cashing out, and his wallet holds a very large position, on the order of 600 million tokens that at points represented the bulk of his visible on-chain portfolio. That alignment, a recognizable figure with skin in the game, is the entire bull narrative. It is also the entire risk, because the token’s fate is tethered to one person’s continued involvement.

The numbers behind the move As of late June 2026, ANSEM trades near $0.13, having reached a peak around $0.14 on June 29. The 7-day move was roughly 26,000%, the kind of figure that only appears in freshly launched memecoins coming off a near-zero base. The market cap sits around $56 million, with roughly 410 million of a 1 billion total supply in circulation, implying a fully diluted valuation closer to $136 million. The token ranks somewhere around #374 by market cap, and daily trading volume has run between roughly $60 million and $94 million, which against a $56 million cap produces a volume-to-market-cap ratio above 2.

ANSEM price chart | Source: TradingView That ratio is itself a warning light: it means the token turns over its entire value more than twice a day, the signature of frantic speculative churn rather than steady holding. ANSEM trades across venues including PumpSwap and Meteora on Solana, with perpetual futures listed on some offshore exchanges such as MEXC and others, and it has appeared as a verified token on Solana interfaces like Jupiter and Phantom. The presence of leveraged perps on a token this young amplifies the volatility in both directions, because liquidations can cascade fast when the price moves.

These numbers describe a token in the most volatile possible phase of its life. The percentage gains are real, and so is the fragility underneath them.

Why this is a casino, not an investment This section is the heart of the piece, and it is deliberately heavier than the bull case, because the risks here are not footnotes. They are the main event.

First, there is nothing to value. ANSEM has no product, no revenue, no roadmap, and no team in the conventional sense. There is no cash flow to discount, no user base to grow, no utility that creates demand for the token beyond speculation. Its price is a pure function of attention and belief, both of which can evaporate without warning.

Second, on-chain analysis has flagged it. Token-screening tools such as Rugcheck have raised manipulation warnings tied to supply concentration in wallets that are not clearly identified. Heavy concentration means a small number of holders could move the price violently or exit into the liquidity that retail buyers provide. Thin liquidity relative to the market cap compounds this: when real liquidity is shallow, a few large sells can collapse the price far faster than the order book suggests.

Third, the person at the center carries his own controversy. The trader associated with the token has faced market-manipulation allegations in the broader memecoin context, which adds reputational and regulatory risk to an asset whose entire thesis rests on his involvement. If he steps back, sells, or is forced to distance himself, the narrative that supports the price can vanish.

Fourth, the base rate is brutal. The large majority of Pump.fun memecoins lose almost all their value, frequently within hours or days of launch. Survivorship bias makes the winners loud and the thousands of dead tokens silent. Treating ANSEM as likely to be one of the rare survivors, instead of one of the many that fade, is the single most common and most expensive mistake buyers of tokens like this make.

Put together, these are not reasons to never touch a memecoin. They are reasons to size any exposure as money one is fully prepared to lose, and to never confuse a fast chart with a sound investment.

The bull thesis, stated fairly For balance, the case the buyers make deserves a fair hearing, even inside a risk-first frame. The bull argument has 3 legs. The first is reach: Ansem commands a large, engaged audience, and in memecoins, attention is the scarce resource that drives price. A token he is actively associated with has a built-in distribution advantage that most launches never get.

The second is alignment. By reportedly pledging to route creator fees back to holders instead of launching a separate token to cash in, Ansem signaled that his incentives point in the same direction as the people holding the coin, at least for now. In a category defined by developers dumping on their communities, an influencer choosing to share fees is a comparatively constructive signal.

The third is the Solana memecoin meta itself. Solana has repeatedly produced memecoins that ran far longer and higher than skeptics expected, and the ecosystem’s culture, low fees, and fast launches keep the speculative engine fed. In a market where attention rotates quickly, a token with a recognizable face and an active community can sustain a narrative longer than a faceless launch.

None of this changes the absence of fundamentals. The bull case is a bet that attention and alignment persist long enough to matter, which is a real but fragile proposition.

What could make it go to zero The bear mechanics are concrete and worth naming, because they are the most probable outcome for tokens of this kind. Concentration is the first: if large holders, identified or not, decide to sell into the thin liquidity, the price can fall faster than buyers can react, and early entrants exit at the expense of late ones. Liquidity withdrawal is the second: if liquidity providers pull their positions, the token can become nearly untradeable at anything close to the quoted price.

Narrative death is the third and most likely slow killer. Memecoins live on attention, and attention is finite. When the crowd rotates to the next launch, volume dries up, the chart bleeds, and the token drifts toward irrelevance even without a dramatic crash. Copycats accelerate this, as the inevitable wave of imitation tokens splits the speculative capital and dilutes the original’s mindshare. Finally, the single-person dependency is the acute risk: if Ansem sells, goes quiet, or is forced to distance himself for legal or reputational reasons, the one pillar holding up the price is removed, and there is nothing fundamental left to catch it.

Any one of these can take a token like this down by 80% or more in short order, and several can combine. This is not a tail risk for ANSEM. It is the central scenario that any honest forecast has to treat as the base case.

What forecasters say A handful of exchange-affiliated outlets have published speculative ANSEM ranges, and they should be read as guesses about a chaotic asset, not as analysis grounded in fundamentals, because there are no fundamentals to ground them in. These are 3rd-party figures, not endorsements.

Some short-term models from venues such as WEEX have sketched a near-term base band roughly between $0.085 and $0.135, a momentum upside toward $0.15 to $0.18 if attention holds, and a downside toward $0.06 to $0.075 if it fades. Broader 2026 ranges floated by outlets including BTCC and WEEX span roughly $0.03 to $0.25. The width of these ranges, a possible multiple up or a collapse of more than half, is the most honest thing about them: it concedes that the outcome is dominated by reflexive sentiment, not by anything that can be modeled. For an asset like this, the error bars are the message.

The pattern this fits: influencer memecoins before ANSEM The Black Bull is not the first token to run on a famous name, and the history of the pattern is the most useful guide to its likely path. Solana has produced a long line of influencer-linked and celebrity memecoins, some tied to the same callers who built reputations on early WIF and BONK trades. The recurring shape is familiar: a token attaches itself to a recognizable figure, attention floods in, the price goes parabolic on a near-zero base, and a wave of buyers arrives late expecting the early gains to repeat. What happens next sorts almost entirely on whether attention and the figure’s involvement persist.

The brutal majority outcome is decay. Most of these tokens fade within days or weeks as the crowd rotates to the next launch, leaving holders who bought the peak deeply underwater. A small number sustain a community and trade sideways at a fraction of their high for longer. A rare few extend into something more durable, and those are the cases the next round of buyers remembers, which is exactly how survivorship bias keeps the cycle turning. The honest framing is that ANSEM is drawing from the same deck, and the base rates for that deck are unforgiving.

What makes The Black Bull slightly different from a faceless launch is the creator-fee airdrop dynamic, which gives the central figure a reason to stay engaged instead of dumping immediately. That can extend the attention window. It does not change the category math.

An influencer can prolong a memecoin’s life, but no influencer has reliably prevented the eventual reversion that defines the type. Treating ANSEM as exempt from that pattern, because this time the figure seems aligned, is the precise belief that has separated late buyers from their money in every prior cycle.

If you choose to speculate anyway This is not a recommendation to buy ANSEM or any memecoin. But because people will trade tokens like this regardless of warnings, the harm-reduction principles that disciplined speculators apply are worth stating plainly, since they are the difference between a survivable loss and a damaging one.

The first principle is sizing. Money committed to an asset like this should be money one can lose in full without affecting rent, savings, or obligations, because total loss is a realistic outcome, not a worst case. The second is that the position should be treated as already gone the moment it is opened, which removes the emotional pressure that leads people to average down into a falling token or chase it higher. The third is that taking profits on the way up is the only way speculative gains become real; a paper gain in a token with thin liquidity is not a realized gain until it is sold, and the same shallow liquidity that let the price spike can prevent an exit at the quoted price on the way down.

The fourth principle is to distrust leverage entirely here. The presence of perpetual futures on a token this young and this volatile is a fast path to liquidation, because the swings that make memecoins exciting also trigger margin calls in minutes.

The fifth is to verify instead of assume: checking the contract, the liquidity, and the holder concentration before committing, instead of trusting a chart or a name. None of this makes a memecoin a sound investment. It makes the gamble less likely to cause real damage, which is the most honest advice anyone can give about an asset with no fundamentals.

Bull, base, and bear scenarios for ANSEM These scenarios are illustrative and speculative. For a memecoin with no fundamentals, they describe possible paths driven by attention and holder behavior, not valuations. The bear case is weighted as the most probable, consistent with how tokens of this type typically resolve.

Bull case In the bull scenario, Ansem stays actively involved, the creator-fee airdrops keep holders engaged, and the Solana memecoin meta stays hot enough to keep attention flowing. Volume holds, new buyers keep arriving faster than early holders exit, and the token sustains or extends its level, pushing toward the upper speculative bands near $0.15 to $0.25 that the most optimistic 3rd-party ranges describe. This case requires attention to persist, concentration not to unwind, and no reputational or regulatory shock to the figure at its center. It is possible, and in memecoins it does happen, but it is the minority outcome.

Base case In the base scenario, the initial frenzy cools as it almost always does. Volume fades from its launch peak, the chart gives back a large portion of the parabolic move, and the token settles into a lower, choppier range, perhaps the $0.06 to $0.13 zone, while it searches for whether a durable community remains after the hype. From there it either grinds out a smaller, attention-dependent existence or slowly bleeds lower as the crowd moves on. Even this “survives but deflates” path involves a substantial drawdown from the peak for anyone who bought the top.

Bear case In the bear scenario, which is the most likely for a token of this kind, the attention rotates away, concentration unwinds into thin liquidity, or the single-person narrative breaks. The price falls 80% or more from its highs and continues toward near zero as volume disappears, joining the large majority of Pump.fun launches that do not survive. A liquidity pull, a large holder exit, a wave of copycats, or the central figure stepping back are each sufficient to trigger this, and they often compound. Anyone holding into this scenario should expect to lose most or all of the position.

Frequently Asked Questions Did Ansem create The Black Bull token? No. The token was created by an anonymous developer who airdropped a large share of the supply to Ansem’s wallet to attract attention. Ansem, the Solana trader also known as blknoiz06, did not launch it, and it is not officially his project. He later embraced it and reportedly pledged to share creator fees with holders, but the origin was a 3rd party using his name and wallet.

Why has ANSEM risen so much? The move, roughly 26,000% in a week, reflects a freshly launched memecoin coming off a near-zero base combined with the attention of a well-known influencer. There is no product or revenue driving it. The price is a function of speculation, social momentum, and one person’s involvement, which is exactly why it can reverse just as violently.

Is The Black Bull a safe investment? No. It is a high-risk memecoin with no fundamentals, flagged manipulation and concentration risk, thin liquidity, and a price dependent on a single person’s involvement. The large majority of tokens like it lose nearly all their value. It should be treated as a speculative gamble with money one is fully prepared to lose entirely, not as an investment.

What are the biggest risks? The biggest risks are holder concentration selling into thin liquidity, liquidity providers withdrawing, attention rotating away and the narrative dying, copycat tokens splitting interest, and the central figure selling or stepping back for legal or reputational reasons. Any one can cause an 80%-plus decline, and they often combine.

What price targets do forecasters give? Speculative 3rd-party ranges from exchange-affiliated outlets span roughly $0.03 to $0.25 for 2026, with short-term bands near $0.06 to $0.18. These are guesses about a chaotic, sentiment-driven asset, not fundamentals-based analysis. The wide ranges reflect that the outcome cannot be modeled with any confidence.

What is the most likely outcome? For a memecoin of this type, the most likely outcome is a sharp drawdown from the peak, with a meaningful chance of trending toward near zero as attention fades. A minority of such tokens sustain a smaller community-driven existence, and a rare few extend higher. Betting on the rare outcome is the most common and costly mistake.

Disclaimer: This article is for information purposes only and does not constitute financial, investment, or trading advice. Memecoins are extremely high-risk, speculative assets with no underlying value, and most lose nearly all of their value. Prices are highly volatile, and the figures here, accurate as of June 30, 2026, will change rapidly. Nothing here is a recommendation to buy or sell any asset. Never invest more than you can afford to lose entirely, and consider consulting a licensed professional before making financial decisions.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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The first half of 2026 has been the biggest fundraising stretch in the short but explosive history of US spot Bitcoin ETFs. Cumulative net inflows since the vehicles launched in January 2024 now surpassing $58 billion.

The numbers behind the record run On January 2 alone, US crypto ETFs attracted nearly $670 million in fresh capital. Bitcoin-specific products accounted for $471 million of that haul, with BlackRock’s iShares Bitcoin Trust (IBIT) pulling in approximately $287 million to lead all issuers.

January also delivered one of the most remarkable single-day performances in ETF history. Inflows hit $843.6 million in a single session, the highest figure since October 2025. That day anchored a three-day streak that totaled $1.71 billion.

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April turned out to be the real standout month. Bitcoin ETFs posted their strongest monthly inflows of 2026, landing somewhere between $1.97 billion and $2.44 billion — again, the best performance since October 2025.

The usual suspects led the charge. BlackRock’s IBIT continued to dominate in terms of raw inflows. Fidelity’s FBTC and Bitwise’s BITB also captured meaningful market share. Grayscale’s GBTC, the converted trust that has functioned as a slow-motion outflow machine since the ETF conversion, continued to see capital leave, though at a less dramatic pace than in 2024.

The May speed bump From mid-May to early June, Bitcoin ETFs suffered their longest outflow streak of the year. Over 13 consecutive trading days, roughly $4.4 billion exited these products. The streak finally broke on June 5, when flows turned positive again with a modest net inflow of $3.05 million.

A 13-day outflow streak that erased $4.4 billion represents a fraction of the $58 billion in cumulative inflows these products have absorbed since inception.

What this means for investors ETF flows have become one of the most reliable demand signals in the Bitcoin market. Unlike on-chain metrics that require interpretation, or futures data that reflects leveraged speculation, ETF inflows represent actual dollars from actual institutions buying actual Bitcoin exposure through regulated channels.

BlackRock’s IBIT has established itself as the dominant product. Fidelity and Bitwise have carved out meaningful positions as alternatives. Grayscale continues to lose ground, a slow unwinding that began when GBTC converted from a closed-end trust to an ETF and investors finally got the chance to exit positions they’d been locked into for years.

As May demonstrated, these products are not immune to drawdowns. A $4.4 billion outflow streak over 13 days can create meaningful selling pressure on Bitcoin’s spot price, since ETF issuers must buy and sell actual Bitcoin to match fund flows.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Bitcoin (BTC) could see a short-term relief from heavy selling pressure as quarter-end portfolio rebalancing could potentially revive spot BTC exchange-traded funds (ETFs) inflows, according to a K33 report on Tuesday.

The firm stated that aggressive ETF selling has become one of the biggest drivers of Bitcoin's recent weakness, noting that five-day net ETF flows plunged to -34,267 BTC last week, marking the second-largest five-day outflow on record.

1-Week Flow BTC ETFs. Source: K33Bitcoin ETF selling pressure could ease due to quarter-end rebalancingDespite the outflows, the firm noted that quarter-end portfolio rebalancing could offer temporary relief in the coming weeks.

"As we await the end of yet another quarter of significant BTC underperformance, rebalancing may once again push flows from negative to positive over the coming week," K33's Head of Research Vetle Lunde wrote.

The firm stated that in nine of the past 18 months, ETF flows diverged from the prevailing trend for the rest of the month during the six trading days around month-end.

In several instances, periods when Bitcoin underperformed the S&P 500 were followed by stronger ETF inflows as investors increased their Bitcoin exposure during portfolio rebalancing.

Bitcoin Monthly Returns Relative to SPX vs ETF Flows +-3 Days From Month End. Source: K33However, K33 cautioned that the relationship has not been consistent enough to be viewed as a reliable market signal. The firm stated that the other nine months failed to follow the same pattern, indicating that rebalancing is only one of several factors influencing ETF demand.

"If this relationship persists, quarter-end rebalancing could provide a well-needed relief for Bitcoin during the first few trading days of July," the report said.

K33 also examined recent changes at Strategy, saying the company's expanded liquidity reserve reduces immediate concerns about forced Bitcoin sales while introducing a new source of uncertainty.

The report noted that Strategy increased its USD reserve to $2.55 billion, extending preferred dividend coverage from roughly 10 months to more than 17 months.

The company also established a Bitcoin Monetization Program, allowing it to sell up to $1.25 billion in Bitcoin to fund obligations and share repurchases.

"The possibility of BTC sales from its 847,363 BTC holdings remains a risk to market sentiment, particularly if investors continue to worry about a potential doom loop in which Strategy ultimately suspends dividends on its preferred securities,” K33 added.

Wintermute suggests downside could persist before a market bottomWintermute analysts shared a similar sentiment in a report made public on Tuesday, arguing that although several indicators point to an advanced stage of Bitcoin's bear market, a definitive bottom has yet to form.

Wintermute pointed to deeply depressed sentiment, with the Crypto Fear & Greed Index remaining in extreme fear territory and an increasing share of Bitcoin's circulating supply now being held at a loss.

The firm also viewed Strategy's newly announced capital framework as reducing the risk of a disorderly unwind while underscoring the current market environment.

"A Bitcoin treasury company now reserving the right to sell Bitcoin to cover its dividends tells you something about where we are in the cycle," Wintermute wrote.

Wintermute analysts noted that Bitcoin has historically not bottomed during the summer months, as thin trading volumes limit meaningful accumulation.

The firm expects further downside into September or October before a potential recovery, depending on macroeconomic conditions.

Bitcoin is trading at $58,690, down 2% over the past 24 hours at the time of writing.

Disclosure Reveals Crypto as Trump's Biggest EarnerDonald Trump's annual financial disclosure for 2025 shows at least $1.4 billion in cryptocurrency-related income, making digital assets the largest single source of earnings during his second term. The 2025 filing was released by the U.S. Office of Government Ethics and spans more than 900 pages, covering the first year of Trump's second non-consecutive term.

Trump reported $635 million in royalties tied to what the disclosure describes as "Celebration Coins," connected to CIC Digital LLC, his meme coin business. The $TRUMP meme token launched on the Solana network just days before Trump retook office in January 2025. Separately, he pocketed more than $500 million from token sales connected to World Liberty Financial, the crypto company that he and his family have maintained an ownership stake in, even as it has drawn conflict-of-interest complaints.

The prior year's filing, released in June 2025, showed about $57.35 million from World Liberty token sales, meaning the 2025 total is roughly 25 times larger.

Bitcoin Holdings and Conflict-of-Interest QuestionsTrump also disclosed holding more than $50 million in Bitcoin, stored in cold wallets, according to the filing. The Bitcoin sits inside The Donald J. Trump Revocable Trust, dated April 7, 2014, of which the president is the sole beneficiary. Trump also reported holding between $5 million and $25 million in Ethereum, among other digital assets.

The numbers reignited a familiar debate over conflicts of interest, with ethics groups arguing that a sitting president should not profit from industries his own policies directly touch. White House spokesperson Anna Kelly dismissed those concerns, stating that neither the president nor his family has ever engaged in conflicts of interest. Even as Trump increased his fortune from crypto industry ties, the broader sector headed into a rough patch in which assets have plummeted in price and businesses struggle.

Sources:
Fox Business: Trump financial disclosure reveals more than $1B in crypto income
NBC News: Trump's financial disclosure lists $1.4 billion in crypto earnings
Decrypt: Trump Discloses Over $1.2 Billion in Crypto Earnings, $50M in Bitcoin Holdings

$1,000 in Bitcoin or S&P 500 in 2021? Stocks Payout More Today

President Donald Trump’s latest financial disclosure has offered the clearest look yet at how deeply cryptocurrency has become woven into his business empire.

A newly released 927-page filing with the U.S. Office of Government Ethics shows Trump generated more than $1.1 billion from crypto-related ventures over the past year alone. The filing also sheds light on how his family-backed crypto businesses have quietly become one of his largest wealth generators while his administration pushes a more crypto-friendly agenda.

World Liberty Financial Became Trump’s Biggest Crypto PaydayAccording to the filing, Trump reported earning over $515 million from WLF token sales, along with another $65 million from selling equity in the company’s holding business. The project has rapidly evolved into one of the family’s largest revenue streams since its launch.

The filing follows earlier estimates from Reuters that the Trump family’s crypto ventures have generated at least $2.3 billion from investors since Trump returned to office. Part of that expansion included the sale of a 49% stake in WLF to a company backed by an Abu Dhabi royal, further boosting the project’s reach.

TRUMP Memecoin Added Another Massive Revenue StreamAnother standout figure came from the official TRUMP memecoin, which launched just days before Trump’s inauguration.

The disclosure shows Trump received approximately $635 million in royalties tied to the token, making it one of the single biggest contributors to his crypto income during the year.

Together, WLF and the TRUMP token accounted for well over $1 billion in crypto-related earnings, showcasing how digital assets have quickly become a central pillar of Trump’s personal fortune.

Crypto Now Sits Alongside Trump’s Traditional BusinessesWhile crypto dominated the headlines, the filing shows Trump continues earning heavily from his traditional businesses.

His golf clubs and hospitality properties generated more than $290 million, including revenue from Mar-a-Lago, while legal settlements with companies including Meta, ABC, CBS, YouTube, and X added at least $86.5 million.

The report also disclosed investments in companies such as CoreWeave, the former Bitcoin mining firm that has shifted into AI infrastructure, along with holdings in gold bars valued between $500,000 and $1 million. Adding to the family business, First Lady Melania Trump earned more than $10.7 million from her documentary and over $6 million through licensing agreements involving NFTs and digital collectibles.

According to Forbes, Trump’s net worth has climbed to roughly $6.5 billion, with cryptocurrency now standing alongside real estate and hospitality as one of the biggest drivers of his growing wealth.

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According to blockchain data, major RLUSD burns took place on the XRP Ledger (XRPL) on Tuesday. The market cap of the token has now shrunk to just $1.4 billion, CoinGecko data shows. 

Roughly 146 million tokens have been destroyed within hours, the data shows. The burns were significant enough for Ethereum to overtake the XRPL as the primary network for RLUSD issuance.

At its peak, the stablecoin's total market capitalization reached nearly $1.9 billion.  

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Fresh competition The decline has notably coincided with the arrival of Open USD (OUSD), which is a new major USD stablecoin. 

As reported by U.Today, Ripple announced that it had joined a consortium of more than 140 financial, technology, and crypto companies that will adopt the new dollar-pegged cryptocurrency with a shared governance model.

The initiative includes major names such as BlackRock, Mastercard, Google, Visa, and Stripe. Open USD will be operated by the independent Open Standard organization, which sets it apart from other offerings. 

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USDC will aspire to solve longstanding issues surrounding scalability, governance, and incentives.  

The development has prompted discussion within the XRP community about how Open USD could affect Ripple's own dollar-pegged stablecoin.

X user @nietzbux welcomed Ripple's participation, arguing that a consortium-backed stablecoin could accelerate crypto adoption and actually benefit XRP.  

I'm happy Ripple didn't buy Circle.

Open USD is fantastic for crypto adoption. Because this is an actually neutral stable, everyone will use it, & crypto rails will become ubiquitous for the public.

The bigger the pie grows, the better for $XRP.

Happy Ripple is a partner.

— nietzbux (@nietzbux) June 30, 2026 Others questioned the implications for RLUSD. Anodos CEO Panos Mekras noted that Open USD would inevitably compete with Ripple's existing stablecoin, which is also quite obvious.  

Yes, but OUSD also competes with RLUSD so where does this leave RLUSD?

— Panos 🔼🇬🇷 (@panosmek) June 30, 2026 Circle shares remain under pressure The announcement appears to have affected Circle, which had its blockbuster IPO earlier this year. 

Shares of Circle fell more than 15% after the introduction of the major competitor.

However, analysts at William Blair described the selloff as an overreaction, arguing that USDC's established liquidity and market position would be difficult for any newcomer to replicate.

"We welcome continued innovation and competition in the space and look forward to remaining laser-focused on building the best stablecoin infrastructure possible and driving more customer and partner success," Circle CEO Jeremy Allaire stated in a recent social media post. 

Stablecoins represent one of the largest market opportunities in the world as the internet transforms the infrastructure for storing and moving money. We deeply believe in this, and it’s why we both founded Circle and why we’ve invested to build the largest regulated stablecoin…

— Jeremy Allaire - jerallaire.arc (@jerallaire) June 30, 2026

Evernorth, a Ripple-backed XRP treasury firm, has published a report on RLUSD stablecoin and XRP. It underscores the growing influence RLUSD has had on activity on the XRP Ledger. It stated that the stablecoin is not a rival to XRP, but is being built to support it.

Evernorth Explains How Ripple’s RLUSD Supports XRP The report states that RLUSD has become a major player in on-chain trading, liquidity, and transaction volume. Evernorth said that blockchain data does not support concerns of Ripple’s RLUSD replacing XRP, it is running on it.

During 2026, the firm said that the percentage of all trading on the XRP Ledger conducted by RLUSD went from below 1% to about 12% on-chain. The volume of the trading pair RLUSD/XRP during the past six months was about $900 million. It was used for nearly 90% of all trading on the network in this pair.

Since the launch of the stablecoin, over $2.5 billion in total trading volume has passed through RLUSD pairs on XRP, Evernorth announced. The report noted that all XRP transactions at RLUSD are paid at the XRP transaction fee that is also denominated in XRP. With this, it provides “real economic throughput” for the network.

2/5 RLUSD went from under 1% of all trading on XRP to ~12% in under 18 months. When people trade on XRP now, they’re increasingly trading the dollar, and every one of those trades settles on XRP. pic.twitter.com/ycpd1BIlOr

— evernorthxrp (@evernorthxrp) June 30, 2026

Another major finding was that RLUSD was one of the most traded issued assets on XRPL. The volume of trading transactions related to RLUSD grew from approximately 54,000 a month in December 2024 to anywhere between 600,000 and 1.1 million a month. Evernorth added that the sole use of RLUSD is now generating about 1 million transactions per month on the XRP Ledger.

RLUSD Gains Traction On XRPL In addition to trading volume, RLUSD has also had a massive increase in its circulating supply on XRP Ledger. Evernorth is estimating that RLUSD on XRP Ledger doubled its value from approximately $20 million at the end of 2024 to over $800 million by late in June 2026. The report also claimed that XRP Ledger “about 51%” of RLUSD supply, which is higher Ethereum.

Its network footprint has also spread. There were 45,527 XRP Ledger accounts holding 93,898 trust lines on RLUSD as of June 25. The volume of direct payments rose from about $68 million in December 2024 to over $5 billion in May 2026. It is a sign of growing institutional-scale use throughout the network, the report added.

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The XRP Ledger Foundation has announced a partnership with VS1 Finance to develop an open source reference application for regulated and permissioned lending operations on the XRP Ledger. The initiative aims to demonstrate how credit processes requiring regulatory compliance can be managed directly on the network’s native infrastructure, paving the way for compliant financial solutions in the digital asset space.

Open source solution targets institutional adoptionThe forthcoming application will provide developers and financial institutions with a transparent, adaptable framework that can be reviewed and tailored for a variety of credit use cases. Rather than building proprietary, closed-source systems from scratch, institutions will be able to leverage this foundational software to create their own compliant lending products more efficiently.

The XRP Ledger Foundation is recognized as a nonprofit organization dedicated to supporting the XRP Ledger ecosystem. Within this collaboration, VS1 Finance will focus on designing the regulatory-compliant credit infrastructure that forms the backbone of the new system.

By launching an open source reference application rather than closed and proprietary software, the XRP Ledger Foundation and VS1 Finance aim to enable institutions to develop compliant credit solutions on the XRP Ledger at a faster pace.

The project will incorporate key features: user identity management, permissioned zones, single-asset vaults, and the core XRP Ledger credit protocol. Together, these components are expected to enable a more transparent credit structure, eliminating the need for external protocols and enhancing system integrity.

Glossary: Permissioned zones refer to network segments accessible only to users or entities meeting specific criteria. Single-asset vaults are structures in which collateral or credit is managed around a single digital asset.

Regulatory compliance shapes blockchain competitionInstitutional adoption is increasingly seen as a critical driver of growth in blockchain technology. Banks and financial firms, however, commonly require infrastructure that adheres to regulatory standards before embracing distributed ledger solutions.

This dynamic has accelerated the development of enterprise-level blockchain products targeting not just individual users, but also banks, asset managers, and corporations. Networks that can deliver regulatory-compliant financial services are expected to gain a significant competitive edge in the evolving landscape.

Aligned with recent progress on XRP LedgerThe new undertaking continues a trend of institutional-focused improvements within the XRP Ledger ecosystem, including the rollout of the AMM v2 update in May 2026. This protocol upgrade was specifically designed to support stablecoins, foreign currencies, and tokenized securities, further broadening the network’s capabilities.

Meanwhile, Ripple has been expanding RLUSD payment channels through Bitso and investing in Flutterwave. However, the ultimate success of this new lending model will depend on whether institutions move beyond testing to adopt the solution in real-world applications.

The main goal of the partnership is not simply to deliver a new lending service, but to build a foundation for a range of future institutional applications. Success will be measured by the extent to which participating organizations transition from pilot programs to full-scale implementation.

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.

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President Donald Trump reported more than $1 billion in crypto earnings for 2025, with a single meme coin and his family’s crypto venture driving most of the income detailed in a new federal financial disclosure.

The 927-page filing, released Tuesday by the Office of Government Ethics, arrived one day after a pivotal Supreme Court ruling. The decision widened presidential power over the independent agencies that regulate digital assets.

Where Trump Crypto Earnings Came FromThe filing shows CIC Digital, Trump’s meme coin business, earned about $636 million in royalties. He launched the token three days before his January 2025 inauguration.

World Liberty Financial added about $515 million from token sales and $65 million from equity in its holding company. The decentralized finance (DeFi) venture is roughly 38% owned by a Trump family entity.

Together, the three streams topped $1.2 billion. Trump separately disclosed more than $100 million in Bitcoin (BTC) and Ethereum (ETH) holdings.

The stake ties him to a Trump family crypto empire built on assets he now helps regulate.

Disclosure Lands Beside a Major Court RulingThe disclosure followed Trump v. Slaughter, a Supreme Court decision that lets presidents fire commissioners at independent regulators without cause.

The 6-3 ruling overturned Humphrey’s Executor, a 91-year-old precedent that had shielded those agencies from the White House. Legal analysts say it extends to the SEC and CFTC, the main crypto regulators.

The timing sharpened questions about Trump’s dual role as policymaker and crypto investor. Trump welcomed the outcome.

“This Decision gives tremendous additional Power back to the Presidency, where it belongs. It is an Honor to be the sitting President who, after all these years, WON this very important, and hard fought, Case,” Trump noted in a Truth Social post.

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Scrutiny Over Conflicts of Interest GrowsWorld Liberty Financial has drawn the sharpest scrutiny. In May 2025, Abu Dhabi state fund MGX settled a $2 billion Binance investment using the firm’s USD1 stablecoin.

That deal routed foreign-government money through a token the president’s family helps control. Senate Democrats demanded hearings into the venture over its foreign ties.

The White House has denied that a reported UAE deal shaped the firm. Lawmakers have pushed to bar federal officials from such crypto transactions.

The earnings landed during a market slump. Bitcoin’s spot price sat near $58,500 on Tuesday, down more than 50% from its October record.

Most small wallets that bought the meme coin have lost money, public data shows. Trump’s gains, set against those losses, will keep his stakes under watch as his agencies write the sector’s rules.

Ethereum [ETH] has continued to hover between $1.5k and $1.6k amid prolonged market weakness. At press time, the altcoin was trading around $1,591 after rising slightly by 0.85% on the daily charts. 

As the ETH market struggles persist, high-net-worth investors are capitulating and exiting at a loss.

FG Nexus’ losses on Ethereum hit $86 million With Ethereum down 36% YTD, high-net-worth investors who aggressively accumulated in 2025 are counting losses. As losses continued to rise, these investors, especially institutions, were aggressively exiting the market. 

Onchain Lens reported one such investor. According to the on-chain monitor, FG Nexus sold another 3,375 ETH worth $5.34 million. 

Source: Arkham FG Nexus bought 50,770 ETH for $196 million. So far, the team has sold 41,675 ETH for $94.51 million. The latest sale pushed the total loss realized to over $86.8 million.

When institutional investors sell at a loss during a downtrend, it signals fear of more losses.

 Institutions on the back foot  Interestingly, FG Nexus is not an isolated case, as U.S. institutional investors have been aggressively dumping ETH.

A look at the Coinbase Premium Index shows the metric has remained negative for 53 consecutive days. Such a streak was last seen between January and February, a period when Ethereum dropped from $3k to $1.8k.

Source: CryptoQuant In addition to institutional investors, it seems all market participants are currently less incentivized to hold their positions.

Looking at the altcoin’s Exchange Netflow, this metric has remained positive for two consecutive days. At press time, Netflow was 11.6k ETH.

Source: CryptoQuant A positive Netflow indicates increased exchange deposits relative to outflows. Such an exchange setup means more sellers than buyers.

Historically, such market conditions have preceded a weakened market structure, resulting in greater losses.

What’s next for ETH? Ethereum is currently facing weak demand and intense selling pressure, especially from institutional investors. As a result, the altcoin’s downside momentum continued to strengthen.

A look at the Daily Relative Strength Index (RSI), this indicator has remained deeply within the bearish zone. Currently, RSI sits at 35, near the oversold area, suggesting bears have total market control.

Source: TradingView Historically, when this momentum indicator is at such low levels, ETH has experienced prolonged weakness. Therefore, if the prevailing market sentiment persists, Ethereum is likely to see more losses on its price charts.

If this happens, ETH could lose the $1.5k support level and drop to $1,400. However, in the short term, the only viable positive outlook is Ethereum’s continued sideways movement, trading between $1.5k and $1.7k.

Final Summary FG Nexus sold another 3,375 ETH worth $5.34 million, extending realized losses to $86.8 million.  ETH faces intense selling pressure from institutional investors, as bears eye a slip towards $1.4k. 

The trader's latest Ethereum liquidation came without a fresh deposit to backstop it, a first in a months-long losing streak tracked onchain.

Machi Big Brother, one of Hyperliquid's most-liquidated traders, was liquidated again on an Ethereum long and has now lost more than $80 million on the onchain derivatives exchange since September, according to onchain analytics firm Arkham.

Arkham said the trader, whose real name is Jeffrey Huang, was liquidated for $341,000 on an ETH position, taking his cumulative losses on Hyperliquid to $80.43 million since September 2025. To raise margin, Huang has been selling his Bored Ape Yacht Club NFTs; blockchain tracker Lookonchain reported he sold 34 of the NFTs over the past month for 326 ETH, about $514,000, realizing a loss of roughly 399 ETH, or about $631,000. His Hyperliquid balance has fallen to around $81,000.

What stands out about the latest hit is that, by Arkham's account, it is the first time Huang has been liquidated without immediately topping up his account. Earlier liquidations in the streak were repeatedly followed by fresh deposits. His run has become one of the most visible cautionary tales of the leverage that has driven Hyperliquid's rise, where the public order book turns each forced exit into a spectacle. It echoes the run of James Wynn, another Hyperliquid trader whose leveraged bets drew crowds hunting his liquidation levels before his account was ground down.

A Months-Long Losing StreakHuang's losses have tracked Ether's decline. ETH trades near $1,578, down about 21% over the past 30 days, roughly matching Bitcoin's 20% drop over the same stretch, according to CoinGecko. Measured from September, when Huang began the streak, the slide is far steeper: ETH has fallen by about two-thirds from the roughly $4,700 it traded at then.

Lookonchain has counted hundreds of separate liquidations across Huang's account, a tally that earned him the nickname "King of Liquidations." His Hyperliquid profits peaked at about $44.8 million in September 2025 before the position turned, on-chain trackers say. He had drawn margin for some of the recent trades from a PleasrDAO treasury wallet funded years earlier.

The NFT sales have crystallized steep losses on assets bought at the top of the 2021 market. The largest single loss Lookonchain flagged was Bored Ape #6057, which Huang bought roughly four years ago for 76.84 ETH and sold for 7.65 wrapped ETH, an ETH-denominated loss of about 90%. At his peak, Huang held more than 200 Bored Ape Yacht Club NFTs.

Onchain data only reflects wallets that trackers have identified, so the figures capture activity on Hyperliquid and tagged NFT sales rather than Huang's full net worth. Holdings on other platforms or in unlabeled wallets would not appear, and the question of whether he is "out of money," as Arkham put it, cannot be answered from public data alone.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

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Taiwan’s legislature has enacted a new law establishing comprehensive regulations for crypto platforms and stablecoin issuers, marking a significant shift from the previous anti-money laundering registration system. The legislation introduces a formal licensing regime for virtual asset service providers (VASPs) and mandates that stablecoin issuers maintain full reserve backing in domestic financial institutions. The move aligns Taiwan with regional trends towards enhanced oversight of digital assets and indicates a major step into the regulated crypto era. This development is viewed by market participants as a potential boost for Bitcoin and Ethereum, given the positive regulatory clarity in a key Asian market.

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Key Takeaways Taiwan’s regulatory move appears to provide a boost to Bitcoin’s prospects, with market pricing indicating increased confidence in achieving higher price targets. The regulatory clarity in Taiwan suggests a potential increase in institutional interest in cryptocurrencies, which could positively impact future price predictions. Market activity reflects a supportive stance towards Ethereum’s market sentiment, albeit with less direct impact compared to Bitcoin. What to Watch Observers should monitor how the new regulations influence institutional behavior towards Bitcoin and Ethereum in Taiwan. The timeline for existing VASPs to obtain full licenses and achieve regulatory approval could be a key indicator of market adaptation. Further developments in regional regulatory stances may continue to shape market dynamics and influence investor confidence in digital assets.

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When Will Bitcoin Hit 150k

Contract Odds Δ since publish Volume 24h June 30, 2026 0.1% — — View market → December 31, 2026 4.2% — — View market → What Price Will Bitcoin Hit Before 2027

Contract Odds Δ since publish Volume 24h December 31 1.8% — — View market → December 31 2.1% — — View market → December 31 4.7% — — View market → December 31 5.5% — — View market → December 31 6.5% — — View market → January 1 2027 12.5% — — View market → January 1 2027 46% — — View market → January 1 2027 8.5% — — View market → January 1 2027 1.7% — — View market → January 1 2027 2.5% — — View market → January 1 2027 4.3% — — View market → January 1 2027 5.5% — — View market → January 1 2027 7.5% — — View market → January 1 2027 82.5% — — View market → January 1 2027 16.5% — — View market → January 1 2027 1.4% — — View market → January 1 2027 4% — — View market → January 1 2027 64.5% — — View market → January 1 2027 29.5% — — View market → January 1 2027 12.5% — — View market → January 1 2027 4.5% — — View market → January 1 2027 4% — — View market → January 1 2027 2.9% — — View market → January 1 2027 1.4% — — View market → January 1 2027 1.1% — — View market → January 1 2027 15.5% — — View market → January 1 2027 18.5% — — View market → ⚡ Also Impacted by This Story

Bitcoin future price predictions bullish

2% FLAT

PANews, July 1 – According to SoSoValue data, crypto sectors generally fell, with the Layer 2 sector down 3.57% in 24 hours. Among them, Mantle (MNT) fell 4.97%, Starknet (STRK) fell 4.93%, and Celestia (TIA) fell 9.54%. Meanwhile, Bitcoin (BTC) fell 1.89%, dropping below $59,000; Ethereum (ETH) fell 0.98%, dropping below $1,600.

In other sectors, the PayFi sector fell 0.29% in 24 hours, but Stellar (XLM) rose 11.00%; the CeFi sector fell 0.87%, Binance Coin (BNB) fell 1.19%; the Meme sector fell 1.05%, MemeCore (M) rose against the trend by 22.60%; the Layer 1 sector fell 1.41%, Cardano (ADA) was relatively resilient, rising 1.32%; the DeFi sector fell 2.79%, LAB (LAB) fell 14.83%.

Additionally, the SocialFi and NFT sectors were relatively resilient, rising 0.50% and 0.54% respectively. Within the SocialFi sector, Gram (GRAM) rose 1.01%; within the NFT sector, Audiera (BEAT) rose 7.87%.

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are showing early signs of stabilization on Wednesday after a recent correction. BTC rebounds modestly after falling to a fresh yearly low of $57,800, ETH holds above the critical $1,500 support level while XRP stabilizes around the key $1.00 psychological mark. The technical outlook for these top three cryptocurrencies is raising hopes of a short-term recovery after a massive price decline.

Bitcoin hits a new yearly low of $57,800Bitcoin price is recovering slightly to $59,000 after hitting a new yearly low of $57,800 on Wednesday. BTC is extending its slide well below the key Exponential Moving Averages (EMAs), which keeps the bias firmly bearish. The 50-day EMA at $66,352, the 100-day EMA at $70,133 and the 200-day EMA at $76,276 all sit overhead, suggesting a market that remains capped by a dense band of medium- and long-term trend resistance. 

The Relative Strength Index (RSI) on the daily chart hovers near 32, hinting at lingering weak momentum rather than a capitulation low. At the same time, the Moving Average Convergence Divergence (MACD) turns slightly negative again around the zero line, suggesting that the latest bounce is stalling under layered overhead supply.

On the topside, initial resistance emerges at the prior horizontal barrier around $64,004, ahead of the 50-day EMA near $66,352, with further recovery levels at the 100-day EMA at $70,133 and the 200-day EMA around $76,276. 

A more substantial bullish reassessment would require a daily close above these clustered EMAs, while a failure to reclaim the $64,000 area would leave BTC vulnerable to a renewed downside extension targeting the key psychological level at $55,000.

Ethereum holds strong above the $1,500 levelEthereum price trades at $1,586 on Wednesday, holding above the key support zone at $1,500. However, ETH is maintaining a bearish bias, with price remaining well below the 50-day, 100-day, and 200-day EMAs, clustered between roughly $1,815 and $2,286. 

The RSI hovers around 34, maintaining downside pressure, while a mildly positive MACD reading suggests a tentative loss of selling momentum rather than a clear bullish reversal.

On the topside, initial resistance emerges at the 50-day EMA near $1,814, with the 100-day EMA around $1,993 and the horizontal barrier at $2,000 forming a broader supply zone; beyond that, the 200-day EMA near $2,285 is a more strategic cap. 

On the downside, the next notable support comes in at the horizontal level around $1,385, where buyers may attempt to stabilize the decline if the pair extends lower.

XRP steadies at key $1 markXRP price trades at $1.0471, maintaining a bearish near-term bias as it remains well below the 50-day, 100-day, and 200-day EMAs at $1.1937, $1.3019, and $1.5145, respectively. The pair also trades beneath the upper boundary of a downward parallel channel near $1.1597, underscoring a capped structure. At the same time, the RSI hovers around 34 and a slightly negative, flattening MACD histogram hints at weak but stabilizing downside momentum rather than an immediate reversal.

On the topside, initial resistance aligns with the channel boundary around $1.1600, followed by the 50-day EMA near $1.1937. Above these, the horizontal barrier at $1.3000 sits close to the 100-day EMA around $1.3019, forming a broader supply zone ahead of the more distant 200-day EMA near $1.5145 and the major horizontal resistance around $1.9000. 

With no clear nearby structural support printed below the spot in this dataset, a daily close back above the $1.1600–$1.1900 band would be needed to ease immediate bearish pressure. At the same time, a failure to reclaim that cluster would keep the risk skewed toward further downside exploration.

(The technical analysis of this story was written with the help of an AI tool.)

Cryptocurrency prices FAQs Token launches influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset.

A hack is an event in which an attacker captures a large volume of the asset from a DeFi bridge or hot wallet of an exchange or any other crypto platform via exploits, bugs or other methods. The exploiter then transfers these tokens out of the exchange platforms to ultimately sell or swap the assets for other cryptocurrencies or stablecoins. Such events often involve an en masse panic triggering a sell-off in the affected assets.

Macroeconomic events like the US Federal Reserve’s decision on interest rates influence crypto assets mainly through the direct impact they have on the US Dollar. An increase in interest rate typically negatively influences Bitcoin and altcoin prices, and vice versa. If the US Dollar index declines, risk assets and associated leverage for trading gets cheaper, in turn driving crypto prices higher.

Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset. At consistent demand if the supply reduces, the asset’s price climbs.

Crypto market cycles often repeat familiar patterns, even if the projects involved are different. Long periods of consolidation are frequently followed by renewed investor interest once broader market conditions improve.

That is one reason analysts who successfully identified Dogecoin’s early breakout before its historic 2021 rally continue attracting attention whenever they discuss new opportunities.

Some of those market observers now believe today’s environment resembles the accumulation period that preceded Dogecoin’s biggest move.

While Dogecoin remains stuck inside a long-term consolidation range, attention is gradually expanding toward newer AI-focused projects such as MemeToro ($MT), particularly as the project progresses through its presale and works toward future exchange listings.

Why Analysts Are Comparing Today’s Memecoin Market With 2021 The comparison is based on market structure rather than price.

Historical analysis suggests Dogecoin spent an extended period moving inside a broad consolidation channel before momentum eventually accelerated during the 2021 bull market. According to several market researchers, current conditions share similarities with that earlier accumulation phase.

Despite ongoing bearish sentiment, long-term support levels continue holding across much of the crypto market.

For experienced analysts, this type of environment often represents a period where investors quietly begin building positions instead of chasing rapid price movements. The emphasis shifts away from short-term volatility toward identifying projects capable of growing through weaker market conditions.

That broader perspective has encouraged researchers to look beyond established cryptocurrencies.

Why MemeToro Has Entered Analyst Discussions MemeToro is appearing on more watchlists because it represents a different type of memecoin project.

Rather than relying solely on community-driven speculation, the platform combines artificial intelligence, SocialFi participation, decentralized prediction markets, behavioral finance, and automated token creation inside one ecosystem.

This approach reflects one of the strongest themes currently shaping crypto development.

Artificial intelligence continues attracting both developers and investors despite broader market uncertainty. Analysts increasingly believe platforms capable of combining AI with active blockchain participation may be better positioned for long-term adoption than projects built entirely around social momentum.

That distinction has helped increase visibility around MemeToro during its presale.

More Than a Standard Memecoin MemeToro extends beyond automated token creation.

Users can participate in decentralized prediction markets using both $MT and BNB to forecast outcomes across cryptocurrency, sports, entertainment, politics, and global events. The ecosystem also includes staking opportunities offering rewards of up to 35% APR, creating additional incentives for long-term participation.

The roadmap continues expanding as well.

Future plans include dedicated blockchain infrastructure and additional on-chain tools designed to strengthen ecosystem activity after launch.

This broader product strategy differentiates the project from many traditional memecoin launches.

Stage 3 Progress and Listing Expectations The project is currently progressing through Stage 3 of its public presale.

So far, $27,284.54 has been raised toward the current round target of $80,644.11. The current presale price is $0.00171 per $MT, with pricing expected to increase as future stages are completed.

The tokenomics emphasize community participation.

The total supply is fixed at 1.2 billion $MT, with 71% allocated to public sale participants, alongside dedicated allocations for exchange liquidity, ecosystem rewards, marketing partnerships, platform operations, and long-term development.

Although community discussions frequently reference future listing agreements, the project’s long-term performance will ultimately depend on ecosystem adoption and continued execution following launch.

Final Thoughts on Crypto Memecoin Market The market environment continues reminding many analysts of the consolidation period that preceded Dogecoin’s historic 2021 rally.

Whether history repeats itself remains uncertain, but periods of extended accumulation have historically encouraged investors to research early-stage projects before broader market momentum returns.

MemeToro has become one of those projects through its combination of AI-powered memecoin creation, decentralized prediction markets, SocialFi participation, staking rewards, and community-focused tokenomics.

As Stage 3 continues progressing toward its funding target, the project remains one of the more closely watched AI-focused presales preparing for its next phase of development.

More Information on MemeToro ($MT) Presale Here:

Website: https://memetoro.com/

X: https://x.com/memetoro_mt

Telegram: https://t.me/memetoro_mt

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Hollywood director Carl Rinsch has been sentenced to two and a half years in prison for defrauding Netflix out of $11 million, which he spent on crypto, stocks and luxury goods.

A Manhattan federal court on Monday sentenced Rinsch, known for directing the 2013 film “47 Ronin,” starring Keanu Reeves, to 30 months in prison after he was convicted in December on charges including fraud and money laundering.

“Rinsch orchestrated a scheme to steal millions by seeking $11 million from a subscription streaming service, falsely claiming that money would be used to finance a television show that he was creating,” Manhattan US Attorney Jay Clayton said in a statement Monday.

“Instead of using the money to make the show, Rinsch made risky bets on highly speculative stock options and cryptocurrency, and spent millions of dollars on luxury goods for himself,” Clayton added. “Today’s sentence sends a deterrent message: fraud will not be tolerated.”

Rinsch’s sentence was far below the maximum possible prison time of 90 years he was facing for his seven total charges, to which he pleaded not guilty. His defense also argued that he suffered from mental health issues.

The sentence brings to a close a 15-month saga after Rinsch was arrested in March 2025 for defrauding what prosecutors referred to in court documents as “Streaming Company-1,” which multiple reports have identified as Netflix.

Source: US Attorney SDNY

Rinsch makes $27 million on Dogecoin betAccording to a March 2025 indictment and a November 2023 New York Times report on a confidential arbitration proceeding between Netflix and Rinsch, the company initially gave Rinsch $44 million for his sci-fi show “White Horse,” later renamed “Conquest,” but he asked for more funds to finish the show, prompting Netflix to wire an additional $11 million in March 2020.

Rinsch used $10.5 million from the fresh funding to gamble on the stock market and quickly lost about half of it in a few weeks by trading options on pharmaceutical companies and the S&P 500.

Rinsch transferred more than $4 million in remaining funds to crypto exchange Kraken and went all in on the memecoin Dogecoin (DOGE), a bet that ultimately generated around $27 million when he liquidated in May 2021, according to an account statement seen by The Times.

Carl Rinsch giving an interview in 2013 for his feature directorial debut film 47 Ronin. Source: YouTube

With the DOGE winnings, Rinsch then spent about $10 million on personal expenses and luxury goods, including $1.8 million on credit card bills, $1 million on lawyers to sue Netflix, $3.8 million on furniture and antiques, $2.4 million on five Rolls-Royces and a Ferrari, and $652,000 on watches and clothes, according to the indictment.

Rinsch never finished the show or returned the funds Netflix provided to complete it.

Prosecutors asked for five yearsRinsch was convicted of one count each of wire fraud and money laundering, each carrying a maximum sentence of 20 years in prison, along with five counts of making monetary transactions in property derived from unlawful activity, each carrying a maximum of 10 years.

Prosecutors asked the court in a mid-June sentencing memo to give Rinsch five years in prison after he argued for a sentence without prison time.

Rinsch’s defense said he suffered from mental health issues, with friends and family members writing to the court to say that his behavior changed around the time of the offenses. Keanu Reeves also wrote to the court in support of Rinsch.

In addition to his two-and-a-half-year prison term, Rinsch was sentenced to three years of supervised release, $11 million in forfeiture and $700 in mandatory special assessments.

Magazine: China’s 107 Bitcoin memory thief, Bithumb CEO booked: Asia Express

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