Category: Bitcoin News

Texas Bitcoin reserve plans $10M shift from IBIT to BTC custody

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Texas is moving closer to holding Bitcoin directly, after opening a search for a custody and liquidity provider for its Strategic Bitcoin Reserve. Summary Texas seeks custody services to move its $10M reserve from IBIT into direct Bitcoin holdings. The RFP asks providers to acquire, hold, manage and report Texas Bitcoin and crypto holdings. Hancock named four advisors to guide custody, risk controls and public reporting for the reserve. Meanwhile, the state wants to shift its reserve from BlackRock’s iShares Bitcoin Trust into directly held Bitcoin through a third-party custody…

$7.5B Bitcoin, Ethereum options expiry tests weak crypto bulls

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Bitcoin and Ethereum faced a large monthly options expiry on May 29 as prices stayed below key levels. Summary Bitcoin options worth $6.2 billion expired as BTC traded below the key $75,000 max pain level. Ethereum options worth $1.28 billion expired while ETH struggled near $2,000 after recent market weakness. Greeks.live said the expiry looked like bearish unwinding, with longs retreating from key resistance zones. Greeks.live said 84,000 Bitcoin options expired, with a notional value of $6.2 billion. It also said 639,000 Ethereum options expired, with a notional value of…

Strategy sends $30M in Bitcoin to Coinbase as MSTR stock slides

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Strategy has transferred more than 411 Bitcoin to Coinbase Prime, a move that has drawn attention after recent comments from company executives about potential BTC sales and a pause in fresh purchases. Summary Strategy transferred 411.48 Bitcoin worth about $30.3 million to Coinbase Prime, according to Lookonchain data. The transfer comes after Michael Saylor said Strategy could sell some Bitcoin as part of its capital management strategy. MSTR stock has fallen nearly 22% since May 11 as the company paused Bitcoin purchases and focused on debt repurchases. According to blockchain…

Bitcoin and gold signal a global break from the dollar, Fidelity says

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Fidelity Digital Assets says Bitcoin and gold are showing signs of a shift away from dollar-based systems. Summary Fidelity says Bitcoin toll claims and gold demand show pressure on dollar-based settlement systems globally. Iran’s insurance proposal adds uncertainty as state-linked media publicly denies active crypto toll collection claims. USDT freezes recently pushed Bitcoin settlement debate higher, while Fidelity says BTC outperformance has lagged. The firm made the statement in its “Six Key Trends Shaping Digital Assets in 2026” report. Fidelity said there is “growing evidence” that countries are testing payment…

Quantus Warns Quantum Computers Could Threaten $2T in Bitcoin and Crypto Assets

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Key Takeaways Quantus warned $2T in crypto faces quantum risks as bitcoin and ethereum lag in migration. Bitcoin quantum-safe signatures could grow 70x, straining block space and throughput. NIST finalized post-quantum standards in 2024 as Quantus targets a 2030 threat window. Google and IBM Advances Push Bitcoin Quantum Threat Closer Quantum computing is no longer a distant risk for crypto, according to a new report from Quantus. It is becoming a planning problem for an industry that still has no clear migration path. The report, The State of Quantum: What…

Bitcoin drops out of global top 10 as Magnificent Seven surge

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Bitcoin has slipped out of the world’s top 10 assets by market capitalization, with its value down to about $1.09 trillion as U.S. tech giants in the “Magnificent Seven” power higher. Summary CoinDesk says bitcoin’s market cap has fallen to $1.09 trillion, knocking it out of the global top‑10 asset ranking. Gold, silver and every member of the Magnificent Seven now sit ahead of bitcoin on the league table of global assets. The drop follows a period when bitcoin had previously ranked as high as the fifth‑largest asset worldwide at…

Sequans Ends Bitcoin Treasury Experiment, Redirects Focus to 5G Growth

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Key Takeaways Sequans Communications completes full redemption of its July 2025 convertible debt, funded by selling Bitcoin down to 658 BTC. The move drops Sequans’ debt-to-NAV ratio to near zero, pivoting the IoT chipmaker away from its DAT strategy entirely. CEO Georges Karam signals Sequans will monetize remaining 658 BTC over time while targeting 5G eRedCap growth. Sequans Cuts Bitcoin Holdings to 658 BTC and Exits Digital Asset Treasury Strategy The company confirmed the transaction Thursday. Sequans had already drawn criticism in November 2025 when it first sold 970 BTC…

Blackrock Leads $733M Bitcoin ETF Selloff as HYPE Funds Keep Drawing Inflows

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Key Takeaways Bitcoin ETFs lost $733.43M, with Blackrock IBIT shedding $527.84M on May 27. Ether ETFs saw an outflow of $67.15M led by Blackrock ETHA, extending a 12-day outflow streak. HYPE and solana ETFs gained $3.40M and $557K as altcoin demand stayed selective. Bitcoin ETFs Extend Losing Streak to Eight Days as Blackrock Loses $528M The selling pressure in crypto ETFs is no longer a passing phase. It is starting to look like a steady withdrawal of risk. Bitcoin ETFs suffered the sharpest blow of the day, posting $733.43 million…

Traders Push Bitcoin Back Above $73,000 After $352M Liquidation Sweep

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Key Takeaways: Bitcoin fell to a session low of $72,642 on Thursday morning, threatening to close May with a monthly loss. Volatile price swings triggered $921 million in total digital asset market liquidations, hammering longs. Wall Street’s muted reaction to subsequent U.S.-Iran peace updates suggests growing investor ambivalence. [/key_takeaways Bitcoin Flirts with Monthly Loss as Key Support Tested Bitcoin edged closer Thursday morning to capping the month of May with overall losses after tumbling to a session low of $72,642. The slide occurred less than 12 hours after the cryptocurrency…

Anonymous Plaintiff Claims $293B Bitcoin Haul, Targets Satoshi’s Dormant Wallets in NY Court Case

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Key Takeaways Timechainindex.com founder Sani first flagged Noah Doe’s NY lawsuit targeting 39,069 wallets worth $293B in BTC. Galaxy Research’s Alex Thorn finds the $10-per-address valuation off by 9 orders of magnitude, weakening the legal claim. A New York default judgment could surface by late June 2026, though courts are unlikely to rubber-stamp the full request. Galaxy Research’s Alex Thorn Tears Apart $10 Bitcoin Valuation in $293B NY Lawsuit Galaxy Research analyst Alex Thorn confirmed Sani’s initial post and added that his firm has tracked the matter since the fall,…