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Smaller tokens Memecore’s M, Auderia’s beat lead as bitcoin, sol rally in ‘first real bounce of the selloff’

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Smaller tokens Memecore’s M, Auderia’s beat lead as bitcoin, sol rally in ‘first real bounce of the selloff’

Smaller speculative tokens are surging as bitcoin BTC$61,464.73 and other major tokens extend Wednesday’s advance. The CoinDesk 20 Index rose almost 5% in 24 hours to its highest in a week, with all members in the green.

Memecore’s M and Audiera’s BEAT have gained 81% and 12%, respectively, making them the best performers among the top 100 coins by market value. At No. 3, Venice Token (VVV) is up 9%.

Bitcoin, the largest cryptocurrency, added more than 4% to $61,200, and ether (ETH), the second-largest, rose 5%. Solana’s SOL gained 9% as the network unveiled an onchain governance system that requires staking at least 100,000 tokens to submit proposals. XRP is up almost 4%.

“First real bounce of the whole selloff, and it has something behind it,” analysts at Marex said in an email. “[Federal Reserve Chairman Kevin] Warsh told Sintra that inflation risks have come down, the July hike bet got walked back, and BTC ripped back over $60k for the first time in a week. SOL is the star, up roughly 16% on the week and leading everything.”

Kevin Warsh comments set the stage for nonfarm payrolls data to ignite BTC, gold rally: Crypto Daily

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Kevin Warsh comments set the stage for nonfarm payrolls data to ignite BTC, gold rally: Crypto Daily

The debasement trade, where investors move money out of fiat currencies like the dollar and into “hard assets” with limited supply, such as bitcoin BTC$61,572.09 and gold, could be back in vogue if Thursday’s U.S. nonfarm payrolls data backs up Fed Chair Kevin Warsh’s latest take on inflation.

On Wednesday, Warsh said inflation risks have come down. That comment sparked a quick reassessment of Fed interest-rate increase prospects and triggered a bounce in both the largest cryptocurrency and the precious metal. Bitcoin has already pushed above $61,000, while gold has stabilized above $4,050 after dipping to $3,942 earlier this week.

These budding recovery rallies could really accelerate if the jobs data due at 8:30 a.m. ET shows clear labor-market weakness. Economists expect a 110,000 increase in jobs for June, down from 172,000 in May, with the unemployment rate holding steady at 4.3%. Average hourly earnings are forecast to edge up to 3.5% from 3.4%.

MiCA became law 3 years ago, now Europe’s crypto framework is undergoing a rethink

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MiCA became law 3 years ago, now Europe’s crypto framework is undergoing a rethink

European authorities are also debating how to treat multi-issuance stablecoins, such as Circle Internet’s (CRCL) USDC, which can be minted by multiple distinct legal entities across different jurisdictions, yet presented to users as a single, fungible token.

When MiCA was designed, it was definitely the European Commission’s intention to support multi-issuance models, according to Catarina Veloso, director, regulatory and compliance at Notabene, a protocol designed to bring crypto transactions into the everyday economy. But during the implementation stage, different stakeholders within the EU, including the ECB, pushed back because they have their own views on the resulting risks.

The real value of stablecoins is that they are natively global, said Veloso. To impose geographic limits would create a scenario where Circle Europe, now licensed under MiCA, would need to build its own fragmented version of USDC for European markets, she said.

“One of stablecoin’s main value-adds is that it’s not a payment system built within a specific jurisdiction,” Veloso said in an interview. “So that value is diluted by the fact it’s now being captured by regulatory frameworks that do exist within borders.”

Taking control

Unrelated to stablecoins, another key area of discussion is the possibility of more centralized control of MiCA, under the auspices of the European Securities and Markets Authority (ESMA).

Nasdaq listed Korean Media firm that once wanted to buy 10,000 bitcoin sells all its BTC, pivots to AI

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Nasdaq listed Korean Media firm that once wanted to buy 10,000 bitcoin sells all its BTC, pivots to AI

It is moving from a weak position. Shares closed near 16 cents on June 29, and Nasdaq has twice warned the company this year that it no longer meets listing rules, in January for trading below $1 and again in June because its publicly held shares are worth less than the $15 million minimum.

K Wave is considering a reverse stock split, which combines shares into fewer, higher-priced shares to raise the quoted price. The $250 million it hopes to raise is many times its entire market value.

The retreat fits a pattern followed by bitcoin miners.

These firms have sold more than 15,000 bitcoin from peak holdings and signed over $70 billion in AI computing contracts, chasing steadier margins than mining offers, and treasury companies are now joining that rotation. And it worked for some of the struggling miners, as their stock rallied from their lows. For example, IREN, a previously bitcoin mining company that pivoted to AI, saw its shares surge more than 200% after languishing since 2022.

It is the same shift of money out of crypto and into the AI trade that has weighed on bitcoin through a losing first half.

Whether the switch works remains unproven so far. AI infrastructure is capital-heavy and crowded with better-funded rivals, and K Wave has to stay on Nasdaq long enough to spend what it raises.

Bitcoin ‘Green July’ Starts With A Bang As US Jobs Data Sends BTC To $62,000

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Bitcoin ‘Green July’ Starts With A Bang As US Jobs Data Sends BTC To $62,000

Bitcoin (BTC) passed $62,000 at Thursday’s Wall Street open as crypto reacted to weak US employment figures.

Key points:

  • US nonfarm payrolls data delivers a crypto market boost as job additions for June fall short.
  • Investors eye an easing in the inflation outlook as optimism over BTC prices increases.
  • Crypto begins its forecast “green July” by liquidating nearly $500 milllion of short positions.

Bitcoin gains amid “volatile situation” for US labor market

Data from TradingView showed new July highs of $62,137 on Bitstamp, with BTC/USD up nearly 4% on the day.

BTC/USD four-hour chart. Source: Cointelegraph/TradingView

The latest nonfarm payrolls data from the Bureau of Labor Statistics (BLS) showed that the US added far fewer jobs than expected in June, at 57,000 versus the anticipated 114,000.

“Both the unemployment rate, at 4.2 percent, and the number of unemployed people, at 7.1 million, changed little in June,” an official news release stated.

US unemployment data. Source: BLS

The jobs numbers painted a weak picture of the labor market — a potential tailwind for risk assets should the Federal Reserve loosen financial policy as a result.

“May’s jobs number was also revised down by -43,000 jobs,” trading resource The Kobeissi Letter noted in a reaction on X. 

“The labor market remains in a volatile situation.”

As Bitcoin and altcoins headed higher, crypto trader and analyst Michaël van de Poppe was among those shifting toward a more optimistic mid-term market view.

“Inflation expectations have come down. Now, unemployment drops too. It’s at its lowest level in close to a year. Those are strong, public signals about the direction of the markets,” he told X followers. 

“I don’t think we’ll see another drop on Bitcoin if Bitcoin can clearly break through $65,000 from here.”

Bitcoin “buyers are back and strong”

Other market participants also drew attention to Bitcoin bulls’ newfound strength.

Related: Bitcoin bear market ‘dead’ after first TD9 reversal signal since July 2022 fires

“Price drilling through large asks on Binance perps orderbook is actually sign of strength. Plus, we have chasing bids supporting aggressive buyers,” commentator Exitpump reported about exchange order-book data. 

“Buyers are back and strong.”

BTC/USDT chart with order-book liquidity data. Source: Exitpump/X

Data from CoinGlass put 24-hour crypto short liquidations at nearly $450 million at the time of writing. 

BTC/USD vs. cryptocurrency liquidations (screenshot). Source: CoinGlass

“Welcome to green July,” trader and analyst Rekt Capital continued.

As Cointelegraph reported, Rekt Capital expects a July relief rally for Bitcoin before bear-market momentum resumes in August.

An accompanying chart, which featured the 21-month and 50-month exponential moving averages (EMAs), drew comparisons to the 2022 bear market, with the implication that the cycle lows were still to come.

“And once Bitcoin turns the 50 EMA into new resistance on this relief rally, it will likely enter additional Bearish Acceleration over time,” Rekt Capital added in a separate X post.

BTC/USD one-month chart with 21, 50EMA. Source: Rekt Capital/X

Crypto Exchanges Cross New Wall Street Line With First US Stock Options Offering

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Crypto Exchanges Cross New Wall Street Line With First US Stock Options Offering

  • Bitget has launched US stock options for eligible users, adding long calls and long puts on leading US-listed companies to its Stock+ product.
  • This is a first for major crypto exchanges and reflects a broader push to combine crypto, equities, commodities and traditional derivatives inside one multi-asset trading platform.

Bitget has launched US stock options, adding another traditional market product to a crypto exchange model that is increasingly moving beyond digital assets.

Eligible users can now trade options on leading US-listed companies through Bitget’s Stock+ product, the company mentioned in a statement shared with AlexaBlockchain.

The initial rollout supports single-leg long calls and long puts, giving traders a way to take bullish or bearish positions while limiting buyer risk to the premium paid.

Bitget said the move makes it the only major crypto exchange currently offering US stock options alongside crypto, contracts for difference and markets tied to gold, foreign exchange, commodities and indices.

The launch comes after Bitget expanded into US stock access in June through Stock+, a feature that lets users buy shares in US-listed companies using digital assets and routes orders through regulated US brokers, according to reports at the time.

It also follows Bitget’s earlier push into tokenized equities.

In June, the company said its Stocks 2.0 product linked tokenized equities to real US market liquidity. Bitget said its cumulative tokenized-stock spot volume had crossed $1 billion in January 2026, while stock futures had exceeded $10 billion in cumulative trading volume.

Options add a more complex instrument to that strategy.

A call option gives the buyer exposure to potential upside in a stock. A put option gives exposure to downside moves or can be used to hedge an existing position.

For buyers, the loss is limited to the premium paid.

That does not make the product low-risk. If the expected move does not happen before expiry, the option can expire worthless.

“We have consistently moved first to connect stock opportunities with our users,” said Gracy Chen, CEO at Bitget. “This has been rewarding to us and users alike. From tokenized stocks to now options, we are executing on convergence. This is innovation crypto was born to push, our products are way ahead of its time in providing advanced trading access to stocks, gold, crypto and worldwide assets.”

The timing is worth noting because US options trading has become one of the fastest-growing areas of retail and institutional market activity.

OCC data showed total US options volume reached 15.21 billion contracts in 2025, up 24.4% from 2024. Cboe said 2025 was the sixth straight annual record for US listed options, driven by equity-market gains, volatility and stronger retail and institutional participation.

That demand has helped make options a core product for modern brokerages.

It also creates for crypto exchanges a new front in the competition to become all-in-one trading platforms. The pitch is simple: users who already hold stablecoins or crypto assets may want access to stocks, options, gold and FX without moving money back into a traditional brokerage account.

Bitget is not alone in that broader direction.

Robinhood launched tokenized US stocks and ETFs for European users in 2025, while Kraken offers tokenized US stocks and ETFs through xStocks. Those products helped push the idea of stock exposure inside crypto-style trading apps, although many tokenized products do not provide the same rights as direct share ownership.

Other exchanges have also moved from tokenized products toward direct stock access.

MEXC launched RealStocks in 2026, letting users buy real shares in US-listed companies and collect dividends while settling trades in USDT. That reflected a broader shift from synthetic stock exposure toward products that more closely resemble brokerage access.

The results have been mixed.

Tokenized equities have attracted attention because they can offer fractional access, faster settlement and extended trading hours. But they have also faced questions around ownership rights, liquidity, regulatory treatment and whether token holders have a direct claim on the underlying shares.

Those issues matter for Bitget’s options launch.

Options are already regulated, risk-sensitive products in traditional markets. Bringing them into a crypto exchange environment may broaden access, but it also raises the importance of eligibility checks, disclosures and jurisdictional controls.

The appeal is obvious for traders.

Stock options can be used around earnings, macro events and large moves in shares such as Nvidia, Tesla or other heavily traded US names. They can also allow traders to define their maximum loss before entering a position.

The initiative is about product convergence. Bitget is trying to position itself as a “Universal Exchange,” where crypto, equities, tokenized assets, derivatives and commodities sit inside one trading environment.

Stock options give that model a more Wall Street-like product set.

The first version is intentionally limited.

Bitget said the launch focuses on single-leg options buying, while more advanced multi-leg strategies are planned later. Eligible users who complete their first US stock options trade may receive $15 worth of Nvidia stock, subject to campaign terms and regional availability.

The larger question is whether crypto exchanges can win trust in products that sit closer to regulated securities markets than to spot crypto trading.

If they can, the boundary between brokerage apps and crypto exchanges will keep narrowing.

The above article “Crypto Exchanges Cross New Wall Street Line With First US Stock Options Offering” was first published on AlexaBlockchain. Read the complete article here: https://alexablockchain.com/crypto-exchanges-cross-new-wall-street-line-with-first-us-stock-options-offering/

Read Also: Polygon’s 5,000 TPS Upgrade Could Make Stablecoin Payments Viable for Payroll, Remittances and B2B Settlement

Disclaimer: The information provided on AlexaBlockchain is for informational purposes only and does not constitute financial advice. Read complete disclaimer here.

Bitwise says STRC selloff signals crypto market bottom is near

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Bitwise says STRC selloff signals crypto market bottom is near

Earlier this week, Strategy unveiled a capital framework allowing selective bitcoin sales to fund preferred dividends, while authorizing preferred share repurchases and stock buybacks. It also set a minimum cash reserve covering 12 months of preferred dividend and interest payments. Its $2.55 billion cash balance currently covers about 17 months.

Hougan said the episode marks a broader shift in Strategy’s role within bitcoin markets. Rather than serving as crypto’s dominant, one-way buyer, the firm is likely to become a more flexible participant whose bitcoin purchases or sales depend on market conditions.

Looking ahead, Bitwise believes institutional investors, including asset managers, banks, pensions, endowments and sovereign funds, are positioned to replace Strategy as bitcoin’s primary source of demand.

More broadly, STRC volatility is seen as part of the leverage unwind that typically marks the late stages of every crypto cycle. As speculative excess is flushed from the system, the market moves closer to establishing a durable bottom, though the exact timing remains impossible to predict, the report added.

Wall Street bank JPMorgan said Strategy’s new policy allowing selective bitcoin sales to fund preferred dividends creates avoidable two-way risk, increasing uncertainty and market volatility.

Read more: JPMorgan says Strategy’s bitcoin sales policy adds ‘two-way risk’ to crypto markets

Ripple Co-Founder Invests in Crypto Venture Founded by US Senator’s Son: Report

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Ripple Co-Founder Invests in Crypto Venture Founded by US Senator’s Son: Report

Chris Larsen, co-founder and executive chair of Ripple Labs, was reportedly among those backing the financial venture of US Senator Kirsten Gillibrand’s son as negotiations over a significant piece of crypto-related legislation continue in the Senate.

According to a Thursday Politico report, Larsen was one of a handful of investors backing the American Perpetuals Exchange Corp. (APEC), founded by Theodore Gillibrand. Although Larsen’s exact contribution was not included in the report, the majority of investors contributed between $5,000 to $10,000 each into the derivatives platform, which reportedly raised $30 million.

The investment comes as the New York lawmaker is involved in negotiations over ethics provisions in the Digital Asset Market Clarity (CLARITY) Act, legislation expected to have a significant impact on crypto companies operating in the US, including Ripple. Gillibrand said in May that no one would be voting for the bill without addressing ethics:

“[T]he truth is, is that we cannot allow members of Congress, senior administration officials, presidents or vice presidents, to get rich off of these industries because of their insider status. It is the worst form of pay for play.” 

A spokesperson for the senator referred Cointelegraph to her June 18 statement saying that her son was “a grown adult starting his own independent business” and she had “no involvement in it whatsoever.” Cointelegraph reached out to APEC for comment but did not receive an immediate response.

Related: Fed chair nominee pressed on potential conflicts of interest, independence

Democratic lawmakers have been pushing Republicans, who hold a majority in Congress, to support efforts to add ethics language to the CLARITY Act, citing US President Donald Trump’s ties to the crypto industry. Republican leaders in the Senate are expecting the bill to pass the chamber in July, with Senator Cynthia Lummis saying in June that lawmakers were “working a little bit on ethics,” decentralized finance and illicit transactions as part of negotiations.

Source: Senator Elizabeth Warren

Senate Republicans hold a slim majority in the chamber, meaning they will need some Democratic support to meet the 60-vote threshold for CLARITY to pass.

Congressional schedule squeezes window for CLARITY bill

Lawmakers in the US Senate are on state work periods for the Independence Day holiday. Scheduled to return to session on July 13 and leave for another month-long state work period in August, the window to pass crypto market structure is closing before US election day, which is expected to result in additional delays.

Magazine: AI is banking the unbanked in Africa… faster than crypto

Passive Income on Ethereum for All: How Rocket Pool Scales Liquid Staking

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Passive Income on Ethereum for All: How Rocket Pool Scales Liquid Staking

💻 Watch Video… Read the full story at The Defiant

StablecoinX Launches Harness API to Simplify Stablecoin Payments and Treasury Operations

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StablecoinX Launches Harness API to Simplify Stablecoin Payments and Treasury Operations

  • StablecoinX has launched Harness, a middleware API to simplify stablecoin payments, swaps, cross-chain transfers and treasury operations.
  • The platform lets businesses accept major stablecoins, convert balances into sUSDe, and deliver funds across chains through one integration.

StablecoinX Inc. today launched StablecoinX Harness, a middleware platform aimed at making stablecoin payments, routing and treasury operations easier for businesses to integrate.

The Nasdaq-listed company, trading under the ticker USDE, says the platform lets organizations accept major stablecoins, convert balances into sUSDe for staking rewards, and deliver funds to a receiver’s preferred chain or venue through one API.

That makes the product a bet on the next phase of stablecoin competition: not just who issues the token, but who controls the software layer around it.

StablecoinX is focused on the Ethena digital dollar ecosystem. The company began trading on Nasdaq on June 26 after closing its business combination with TLGY Acquisition Corp., holding about 3.03 billion ENA tokens valued at roughly $275 million at closing.

In its June 25 SEC filing, StablecoinX described Harness as a middleware software stack that was “not yet live.” The filing said the product was expected to support payment routing, cross-chain bridging, liquidity aggregation, gas abstraction, treasury management, automated yield, institutional reporting, white-label issuance and compliance orchestration.

The launch turns that planned product into an active platform for design partners and early integrators.

The first release focuses on same-chain swaps and cross-chain transfers. Future releases are expected to add liquidity aggregation, multi-stablecoin treasury dashboards, issuance-as-a-service, automated yield strategies, risk scoring and compliance orchestration, according to the company announcement.

Edward Chen, chairman and chief executive officer of StablecoinX, said the launch is “a significant milestone for our company and our partnership with Ethena.”

“This API will empower developers to seamlessly integrate USDe into payment, treasury, and agentic solutions, thereby driving the adoption of Ethena products into traditional financial markets,” Chen said. “By expanding the utility of Ethena products through StablecoinX Harness, we look to strengthen the network effects of the Ethena ecosystem.”

The move comes as stablecoins are becoming a mainstream payments and treasury topic.

The GENIUS Act, signed into law in July 2025, created a U.S. framework for dollar-pegged stablecoins backed by liquid assets such as cash and Treasuries. Industry backers have argued the law could expand the stablecoin market sharply, while critics have warned about gaps in anti-money-laundering protections and tech-company issuance.

But clearer rules do not solve the operating problem.

Enterprises still need to manage multiple tokens, chains, bridges, liquidity venues, custody providers, compliance checks and treasury workflows. StablecoinX’s pitch is that Harness can abstract those fragmented systems into one programmable layer.

That matters because payments and treasury teams generally do not want to build crypto routing infrastructure from scratch.

For institutional users, a single API could reduce engineering cost and operational risk. For Ethena, it could make USDe and sUSDe easier to use beyond DeFi-native users, especially in payments, treasury management and AI-agent commerce.

Ethena’s USDe remains a different product from fiat-backed stablecoins such as USDC or USDT.

StablecoinX describes USDe as a synthetic digital dollar backed by a delta-neutral strategy using crypto collateral and short perpetual-futures positions. Its sUSDe product offers rewards, but Ethena says sUSDe is not a bank deposit, savings account or insured banking product.

That risk distinction is important.

Harness may simplify access and routing, but it does not remove the market, liquidity, regulatory and execution risks around stablecoin systems. StablecoinX’s own SEC filing warned of risks tied to crypto volatility, competition, regulation and the challenge of launching its infrastructure and distribution businesses.

The broader market is already moving in the same direction.

Circle launched Gateway in 2025 to give businesses instant access to cross-chain USDC liquidity through a unified balance, targeting payment service providers, exchanges, custodians and cross-chain infrastructure teams. Circle said the product was designed to reduce fragmented liquidity management and improve capital efficiency.

Fireblocks has also pushed into payment orchestration.

Its Network for Payments connects providers across local payment rails, blockchains, on/off-ramps, foreign exchange and remittance capabilities. Fireblocks says its broader network connects more than 2,400 counterparties and supports settlement, custody, trading and tokenization use cases.

Large payment companies are buying into the same thesis.

Stripe’s stablecoin unit Bridge received conditional approval from the Office of the Comptroller of the Currency in February to establish a national trust bank. If finalized, the approval would let Bridge offer digital-asset custody, stablecoin issuance and orchestration, and reserve management. Stripe acquired Bridge in 2024 in a deal reportedly valued at $1.1 billion.

Mastercard has also moved toward owning stablecoin infrastructure.

In March 2026, Mastercard agreed to acquire BVNK for $1.8 billion, giving it technology and licenses for stablecoin payments across more than 130 countries and major blockchain networks. The deal showed that payments incumbents would rather buy proven infrastructure than spend years building it internally.

StablecoinX is taking a narrower but more vertically aligned route.

Instead of building neutral infrastructure across all stablecoins, it is building around Ethena’s ecosystem. That could help concentrate liquidity and developer activity around USDe, but it also ties StablecoinX’s fortunes closely to Ethena’s adoption, ENA’s economics and the durability of synthetic-dollar demand.

The launch also arrives as competition among stablecoins is broadening.

Earlier this week, a consortium including Visa, Mastercard, Coinbase and other companies launched Open Standard to introduce Open USD, a dollar stablecoin backed by more than 140 participating businesses. The initiative is designed to address adoption barriers such as cost, scale and accessibility.

That makes StablecoinX Harness part of a larger shift.

The first stablecoin race was about issuance and reserve trust. The next one is increasingly about distribution, interoperability, liquidity routing and compliance-ready infrastructure.

The above article “StablecoinX Launches Harness API to Simplify Stablecoin Payments and Treasury Operations” was first published on AlexaBlockchain. Read the complete article here: https://alexablockchain.com/stablecoinx-launches-harness-api-to-simplify-stablecoin-payments-treasury-operations/

Read Also: This is the First U.S.-Chartered Depository Bank to Offer Stablecoin Invoicing

Disclaimer: The information provided on AlexaBlockchain is for informational purposes only and does not constitute financial advice. Read complete disclaimer here.

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