JPMorgan flags two-way risk on Strategy’s Bitcoin play
Securitize went live on the NYSE and dropped tokenized versions of its stock on two blockchains at the same time.
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Is Bitcoin's biggest buyer becoming its biggest risk?
That's the question after a top Wall Street bank warned Strategy's Bitcoin sales could stir up volatility.
Meanwhile, a crypto-friendly bank is chasing a multibillion-dollar valuation.
And a BlackRock-backed company became the first public firm to tokenize its shares onchain from day one.
Here's today's crypto briefing.
Strategy can sell Bitcoin now, and JPMorgan thinks that's a problem
Strategy quietly revised its capital policy to allow selective Bitcoin sales.
JPMorgan says the shift introduces "two-way" market flows that could spike volatility.
A company that once defined diamond-hands conviction is now hedging, and the market is noticing.
Markets
Weak jobs report gives Bitcoin a lift past $61K
US employers added just 57K jobs in June, roughly half of what economists expected.
Treasury yields dropped and stock futures rose as traders priced in potential Fed rate cuts.
Bitcoin climbed above $61K, ETH traded near $1,700, and SOL pushed past $80.
Crypto-friendly Erebor Bank eyes $8B valuation in new funding round
Erebor Bank is in talks for a raise that would double its year-end valuation.
The digital-first lender, co-founded by Oculus creator Palmer Luckey, was worth $4B in December.
Investors are betting big that crypto-native banking is more than a niche experiment.
Securitize lists on NYSE and launches tokenized shares on-chain
Securitize started trading under ticker SECZ on the New York Stock Exchange Thursday.
It simultaneously launched tokenized versions of its stock on Avalanche and Solana.
One company, two worlds: that's what the merger of TradFi and crypto actually looks like.
On Our Radar
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Robinhood CEO:Â AI agents will soon trade at a human level.
The next bull market:Â Bitwise expects Bitcoin to rebound this fall.
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Until next time.
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