According to Naveen Mallela, an executive at Kinexys (JPMorgan’s clandestine blockchain lair where people say things like “sovereign liquidity” without giggling), a fixed amount of the imaginatively titled JPMD deposit tokens will soon be flung across cyberspace like digital bread rolls—directly onto Coinbase, the crypto exchange that wishes it ran the world, but settles for running a really big spreadsheet.
With a cornucopia of over 270 cryptocurrencies—think Bitcoin, Ethereum, and Tether—trading has never been more tantalizing. And let’s not forget the 60+ crypto-to-euro trading pairs, all served on a platter of deep liquidity and low fees. Depositing and withdrawing Euros? A breeze, thanks to the Single Euro Payments Area (SEPA) and other local payment options. Who knew finance could be this easy? 💸
For three days, Bitcoin had been compressed like a soda can under pressure around $105k. Traders were bracing for another crash, like early June’s disaster where BTC fell to $100,424.
According to a rather juicy morsel from Reuters, Coinbase is engaged in a tête-à-tête with the SEC, aiming to unveil what can only be described as stock trading, but with a blockchain twist. Imagine, if you will, shares metamorphosing into digital tokens, like butterflies emerging from their cocoons, fluttering about in the vast digital ether. 🦋
Now, the crypto community is left scratching their heads, pondering whether the regulator will also delay the decision on ProShares’ Solana and XRP ETF filings. ProShares, in a bold move, has requested a decision by June 25—just a week away! Talk about cutting it close! 🎢
What they truly meant was: “Honestly, your Honour, keep the old ruling as your favorite trophy on the wall. We’re absolutely not asking for a do-over. Pinky swear!”
History lesson: World on fire? Bitcoin mostly snoozes. It’s like that friend who “forgets” your birthday, claims they were meditating, and then turns up at brunch anyway. As it turns out, institutional bigwigs and bandwagon-jumpers have ~some influence~ (read: like the entire market). Still, your average analyst, like André Dragosch (who presumably doesn’t own a cape either), tells us: “Short-term chaos = volatility hiccups = nervous price dip.” But in the grand cosmic joke of finance, Bitcoin still carries the aura of That One Risky Asset™—the high school rebel who occasionally gets kicked out but somehow graduates just fine.
Our dear lawyer, James K. Filan, took to the digital ether on June 17 to reveal that Ripple had filed a supplemental letter in support of their joint motion for this elusive indicative ruling. They even highlighted additional explanations, as if the judge were a particularly dim-witted student in need of extra tutoring on the matter of lifting the injunction from the final judgment. How generous of them!
In case you missed it, PEPE has been on a relentless downtrend for a while now, and this 13% drop just sealed the deal. The downward spiral began when PEPE couldn’t muster the strength to bounce back above the value area high, followed by a harsh rejection at the 0.618 Fibonacci level. You know, the kind of rejection you’d get from a date you spent hours getting ready for. Ouch. With the market still on shaky ground, PEPE is now heading towards the point of control, where either support will kick in or it’ll drop like a rock into the abyss. Sorry, PEPE.
The death toll continues to rise as the conflict between Israel and Iran reaches its fifth day, with Iran reporting a tragic loss of 224 lives, and in Israel, there have been confirmed deaths totaling 24. Major global stock markets are showing declines, and the value of bitcoin has dropped approximately to $104,000 at the time of this report.
