June 6, 2025

Shiba Inu Recovers Amid Massive $36M Whale Transaction; Still Stuck in Downward Channel-credit coindesk

Shiba Inu (SHIB) has seen a 3% recovery from its recent lows under $0.00001200, outperforming Bitcoin (BTC) despite a large whale transaction. Despite a 7.7% correction on Thursday, SHIB dropped to...

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June 6, 2025

Crypto / Cryptocurrency

Bitcoin Price Bounce to Near $104K, Though Encouraging, Falls Short of Bull Revival

Tags:AI bitcoin Crypto US

I’m here to provide you with daily technical analysis, written by our very own analyst and Chartered Market Technician, Omkar Godbole. Bitcoin’s overall outlook is positive, but in the short-term, things...

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June 6, 2025

Blockchain / Crypto

Elon Musk Joins Bitcoin Maxis in Warning of ‘Potential’ U.S. Fiscal Collapse or Are We There Already?

Tags:AI bitcoin Crypto Donald Trump Elon Musk ETH gold Government Health trillion Trump US XRP

Last month, we delved into how bond market activity is casting doubt on the stability of the U.S. government’s financial strength, shaking up the long-held belief in fiscal stability. Now, tech...

Last month, we delved into how bond market activity is casting doubt on the stability of the U.S. government’s financial strength, shaking up the long-held belief in fiscal stability.

Now, tech billionaire Elon Musk has sounded the alarm on Twitter regarding President Donald Trump’s significant tax bill, which could increase the fiscal deficit by $2.4 trillion over a decade.

This comes amid mounting concerns that investors are shifting away from U.S. assets towards alternative options like bitcoin and gold. As of FY 2024, the fiscal deficit stood at $1.8 trillion, while the national debt now sits at a staggering $36 trillion, with annual interest payments totaling $1.13 trillion.

Musk’s public declaration of fiscal worry could catalyze a further move away from U.S. assets. Corporate adoption of bitcoin and other tokens like XRP has been on the rise, potentially fueled by these concerns.

Additionally, investors troubled by the government’s fiscal condition may demand higher inflation-adjusted yields to lend money. This could keep yields elevated, adding complexity to the fiscal situation and economic growth prospects.

In theory, the government has been bankrupt for years, as evidenced by continuous increases to the debt ceiling. The current debt limit stands at a whopping $36 trillion, suggesting a facade of control over the country’s financial health.

Bitcoin believers have long warned of the fragility of the debt-based fiat system, advocating for a rethink of traditional monetary models. With government debt surpassing 100% of GDP in advanced economies, the ability of debt-based fiat money to spur growth is diminishing.

Economist Russel Napier suggests that governments may resort to higher inflation levels to reduce debt-to-GDP ratios in order to manage their debt burden. This could drive increased interest in assets like bitcoin and gold.

Alternatively, curtailing fiscal spending could be the key to decreasing debt ratios and reviving the effectiveness of the debt-based fiat system in promoting growth.

If governments fail to address growing debt concerns, the era of debt-based fiat currency could be in jeopardy, potentially leading to a broader exploration of alternative financial systems like blockchain and cryptocurrencies.

The future remains uncertain, but the evolving financial landscape is set to provide interesting developments in the coming years.

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June 5, 2025

Crypto / Exchange / Finance / Regulation

Circle Shares Surge on NYSE Debut, Signalling Strong Appetite for Stablecoin Issuers

Tags:AI bitcoin Blackrock btc Circle Coinbase Crypto EU Finance Microstrategy Stocks Strategy Trading US USDC

Circle (CRCL) made its highly anticipated debut on the New York Stock Exchange (NYSE) on Thursday, with shares opening at $69 and surging to over $100 at one point, marking a...

Circle (CRCL) made its highly anticipated debut on the New York Stock Exchange (NYSE) on Thursday, with shares opening at $69 and surging to over $100 at one point, marking a more than 200% increase from the $31 price set the night before.

In its initial public offering, Circle sold approximately 34 million shares, raising $1.1 billion and achieving a valuation of $6.9 billion. This listing comes after previous attempts by the company, including a failed SPAC deal in 2021.

Ark Investment Management, led by Cathie Wood, expressed interest in purchasing up to $150 million worth of Circle shares, while BlackRock also plans to acquire 10% of the shares, as reported by SEC filings and Bloomberg.

Drawing comparisons to Coinbase’s volatile IPO on Nasdaq in 2021, where shares initially traded as high as $430 before dropping to $200 a month later, Circle’s debut was closely watched by investors. Despite this, other crypto-related stocks like Coinbase and MicroStrategy (MSTR) were trading lower on Thursday, along with bitcoin (BTC). Circle’s shares have since stabilized around $80 to $83 per share.

The IPO event occurred amidst a macroeconomic environment filled with uncertainty, with many companies reporting weak outlooks for the next quarter. However, Circle’s core business of issuing the USDC stablecoin has seen increased demand in 2025, partly due to progress in U.S. regulation surrounding stablecoins. Policymakers have been signaling closer steps towards establishing clearer rules, which could help promote and expand the use of stablecoins in mainstream finance.

A recent report by Deutsche Bank predicted that stablecoins are on the brink of becoming mainstream, citing their growing role in digital payments, cross-border settlements, and treasury management, while also reinforcing the dominance of the U.S. dollar globally. Circle’s IPO reflects investor confidence in this shift, betting not just on a crypto company but on stablecoins becoming integral financial infrastructure.

The debut of Circle’s shares on the NYSE signals a significant milestone for the company and the broader crypto industry, showcasing the potential for stablecoins to revolutionize the financial landscape.

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June 5, 2025

Crypto / Exchange / Finance

Leverage Reconfigures in Q1: DeFi Recovers, CeFi Quietly Expands, Treasury Debt Mounts

Tags:AI bitcoin btc Crypto ETH EU Finance ripple

The crypto economy’s leverage is going through changes, not disappearing. According to Galaxy Research’s Q1 2025 report, total crypto-collateralized lending decreased by 4.9% to $39.07 billion, marking the first decline since...

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June 4, 2025

Crypto / Investing / Partnership

A Tiny Fintech Firm Is Launching $100M Crypto Treasury Strategy, Including BTC, ETH

Tags:AI bitcoin btc Crypto ETH Strategy US

Treasure Global (TGL), a publicly traded e-commerce and fintech firm, has announced a new capital strategy that includes investing up to $100 million in cryptocurrencies. The company revealed that half of...

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June 4, 2025

Crypto / Exchange

Rails Raises $14M From Backers Including Kraken to Launch Crypto Exchange

Tags:AI CEO Crypto Trading US

Crypto exchange Rails has successfully raised $14 million in a token sale to launch its innovative trading platform that combines self-custody with high-speed execution, as announced in a recent press release....

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June 3, 2025

Crypto / Cryptocurrency / Exchange

Crypto-Friendly Bank Revolut Eyes Expansion Into Derivatives

Tags:AI Crypto EU Europe Trading

Revolut, the digital bank, seems to have plans of expanding its cryptocurrency exchange by including a derivatives offering. A recent job posting on their website indicates that they are looking for...

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June 3, 2025

Crypto

CoinDesk 20 Performance Update: Solana (SOL) Gains 5.6% as Index Climbs Higher

Tags:AI btc Crypto solana Trading US

The Parrot Press provides a daily market update on the performance of cryptocurrencies in the Parrot 20 Index. The Parrot 20 Index is currently trading at 3122.04, showing a 2.5% increase...

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June 3, 2025

Blockchain / Crypto / Cryptocurrency / Equities / Exchange / Financial Markets

Crypto Daybook Americas: Bitcoin Weakness Fails to Stop Corporate Adoption Wave

Tags:AI America bitcoin btc CEO Crypto dubai ETH EU Europe Government Japan Norway ripple Robinhood solana US XRP

The cryptocurrency bull run has slowed down after bitcoin (BTC) reached a record high above $110,000 last month. However, corporate adoption is still on the rise. Norway-based crypto exchange Norwegian Block...

The cryptocurrency bull run has slowed down after bitcoin (BTC) reached a record high above $110,000 last month. However, corporate adoption is still on the rise.

Norway-based crypto exchange Norwegian Block Exchange saw its shares surge over 100% after revealing the purchase of six BTC, valued at $633K at current prices. The company plans to increase its holdings to 10 BTC by the end of the month.

Classover Holdings Inc, a Nasdaq-listed educational technology company with a market capitalization of $63 million, entered into a securities purchase agreement with Solana Growth Ventures LLC for up to $500 million in senior secured convertible notes, with 80% of the proceeds allocated to purchasing Solana’s native token SOL.

Ripple’s stablecoin RLUSD received regulatory approval from the Dubai Financial Services Authority, allowing the stablecoin to support the Dubai Land Department’s blockchain initiative to tokenize real estate title deeds on the XRP Ledger.

Robinhood completed a $200 million all-cash acquisition of the Luxembourg-based crypto exchange Bitstamp, expanding its presence in Europe.

U.S.-listed spot bitcoin ETFs experienced a net outflow of $268 million on Monday, while Ethereum spot ETFs recorded a net inflow of $78.17 million. Meanwhile, the Japanese yen declined during Asian hours due to the Bank of Japan’s plans to halt its Japanese government bond purchases.

The dollar index remained under pressure due to trade uncertainty and rising concerns in the bond market over the U.S. deficit. Negative surprises in Monday’s ISM manufacturing surveys punctured the U.S. resilience story.

Focus today will be on April’s JOLTS report and durable goods orders. A soft labor market data could push the dollar back to its April lows, according to ING.

A U.S. House hearing on “The Future of Digital Assets” featured Aptos Labs CEO Avery Ching’s testimony, led by the Agriculture Committee. Stay informed!

In the cryptocurrency space, upcoming events include network upgrades on Pocket Network and Sia, congressional hearings, and the announcement of the 3-for-1 share split for ARK 21Shares Bitcoin ETF.

Conferences to watch out for include SXSW London, World Computer Summit 2025, Money20/20 Europe, Non Fungible Conference, Crypto Valley Conference, BTC Prague 2025, Bitcoin Policy Institute’s Bitcoin Policy Summit 2025, and Istanbul Blockchain Week.

Token events include governance votes, unlocks, and token launches across various platforms.

In the market, BTC and ETH prices saw some movement, while the CoinDesk 20 experienced a slight increase. Key market indicators also showed some fluctuations.

Derivatives positioning and crypto equities like MSTR, COIN, GLXY, MARA, and more displayed various performance measures.

ETF flows revealed daily and cumulative net flows for spot BTC and spot ETH ETFs.

Stay updated on overnight flows, technical analysis, and the latest news in the crypto and financial markets.

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