News & Research

In a recent update on X, crypto analytics firm 10x Research reported that U.S.-listed crypto equities have risen 119% year-to-date, outperforming Bitcoin (BTC) and major asset classes. The firm pointed to a broader shift in market structure, as Wall Street’s subtle backing of digital asset firms may lay the groundwork for a new crypto-focused sector within the S&P 500.

SharpLink Gaming, a Nasdaq-listed company pursuing a treasury strategy centered on Ethereum (ETH), has purchased an additional 4,951 ETH (worth $12.4 million) in the past five hours. According to on-chain analyst @EmberCN on X, the company has accumulated 202,800 ETH since completing its fundraising in early June, spending $528 million at an average price of $2,606.

Japanese crypto exchange operator BACKSEAT announced it has raised approximately $9.69 million in a seed round co-led by Spiral Capital and Headline Asia, according to CoinDesk Japan. Founded in April 2024, the company has now secured around $14 million in total funding.

Bitcoin's mining difficulty decreased by 7.48% to 116.96T at block height 903,168 on June 29, due to U.S. miners shutting down operations amid extreme heat and unconfirmed power outages affecting miners in Iran, which contribute 4% of global hash rate, according to CloverPool data.

U.S. Treasury Secretary Scott Bessent said stablecoin legislation may be finalized by mid-July and could increase demand for U.S. Treasury bonds, according to Whale Insider on X.

The U.S. Supreme Court has rejected a challenge to block the IRS from accessing Coinbase Exchange user transaction records. Coinbase had argued the data request violated customer privacy, according to Unfolded on X.

Bloomberg analyst James Seyffart suggested on X that a Solana Staking ETF may be approved this week, citing the upcoming launch of the REX-Osprey™ SOL + Staking ETF, which aims to track Solana’s performance while generating yield through staking.

Sparkasse, the German savings bank association, will open cryptocurrency trading services to private clients, breaking its long-standing ban, Bloomberg reported. The service, to be developed within a year, will be available via Sparkasse’s app, with customers able to trade crypto through its subsidiary DekaBank by summer 2026.

Amber International, the institutional crypto service arm of market maker Amber Group, has raised $25.5 million in a private placement backed by major investors including Pantera Capital, Mile Green and Harvest Capital, according to PR Newswire. The funds will support its expansion in the U.S. and Southeast Asia, focusing on institutional crypto services, stablecoin and RWA tokenization, and AI-driven finance initiatives.

U.S. stock markets have opened higher today. S&P500: +0.32% NASDAQ: +0.44% Dow: +0.50%