Coindesk

"Hyperbitcoinization" — an almost apocalyptic term evoking end-of-days fiat collapse and bitcoin’s parabolic rise to global reserve status — is increasingly being discussed in more serious circles.For hardcore bitcoin maximalists, it's long been the ultimate scenario: a financial utopia where individuals, institutions and even nations are all-in on a bitcoin-only system as the fiat-based economy collapses. While we aren't there yet, the recent events might suggest something is brewing. Bitcoin is trading at record highs above $119,000. The market cap of bitcoin is near that of the tech giants. The U.S. dollar is continuing its slow bleed in real purchasing power. Major institutions are allocating capital to BTC with the same risk-adjusted lens they apply to traditional assets. If hyperbitcoinization...

According to CoinDesk Data price information, at 2:20 p.m. UTC on Sunday, the bitcoin (BTC) price set a new all-time high of $119, 308, up 1.4% in the past 24-hour period.Bitcoin's achievement was a little bit surprising because the crypto market was waiting for the U.S. stock market to open on Monday to discover the reaction to the 30% tariffs against imports from the EU and Mexico that Trump announced late Friday on Truth Social.Analysts expect the bitcoin price to reach as high as $250,000 by year-end. For example, in a recent interview on CNBC, Fundstrat Capital CIO Thomas Lee said that the demand versus supply imbalance for BTC meant that its price could easily reach anywhere from $150,000...

"Please don't fall for misinformation," Indian crypto exchange CoinDCX's Co-founder and CEO, Sumit Gupta, said Saturday amid allegations that the exchange moved user funds to non-compliant entities in Lithuania.The allegation was reportedly made by another Indian exchange, WazirX, which has been under scrutiny since last year's $230 million hack. In an affidavit filed as part of the Singapore High Court proceedings (scheduled for a hearing on July 15, 2025), WazirX reportedly claimed that CoinDCX held user funds in a Lithuania-based entity that was not registered with India’s Financial Intelligence Unit (FIU) until February 2025.Gupta denied these allegations in a message to CoinDesk, stressing that his India-based users' INR and crypto funds have always been held by Neblio Technologies, our FIU-IND...

On June 11, PayPal announced plans to launch its U.S. dollar-backed stablecoin, PayPal USD (PYUSD), on the Stellar blockchain network, pending regulatory approval from the New York State Department of Financial Services. If approved, the move would mark the expansion of PYUSD beyond its current availability on Ethereum and Solana.PayPal described Stellar as a blockchain tailored for low-cost, high-speed payments with strong real-world utility. By adding support for Stellar, the company aims to improve the accessibility and usability of PYUSD for payments, cross-border transfers, and financial services. The integration is expected to enhance daily payment options and provide users with expanded access to financing tools such as working capital and small business loans—areas where Stellar is already active.The press release...

Bitcoin mining firm, BTC Digital (BTCT), has moved $1 million of company cash into ether (ETH), which it called its new “digital gold.”BTCT Moved $1M Into Ethereum Reserve, chief executive officer Siguang Peng said in a press release, adding that Ethereum has “emerged as the foundation of on-chain USD settlement and value transfer.”"By securing an initial $1 million ETH reserve today—and with plans to scale that position—we are proactively positioning ourselves for decentralized finance, stablecoin issuance, and asset tokenization,” Peng said. BTCT plans to grow the reserve as upgrades lift capacity and U.S. rules solidify. BTC Digital was previously a bitcoin mining company. The firm recently said that "its 20 MW large–scale cryptocurrency mining project in Georgia has reached a significant milestone."The company doesn't state if it still...