South Korea’s Coinone exchange has won a landmark legal battle requiring users to return Bitcoin mistakenly credited due to a 2018 system glitch. This ruling highlights the application of traditional
CoinOtag 2025-07-03 16:16
The International Monetary Fund (IMF) rejected Pakistan’s proposal to offer discounted electricity rates to Bitcoin mining ventures and other energy‑intensive industries, raising concerns over potential market distortions, grid strain, and fiscal risks. The government has not yet finalized the plan, and is still seeking advice from international organisations, local reports said. The development was confirmed during the Senate Standing Committee on Power meeting, where Secretary of Power Dr. Fakhray Alam Irfan stated that the IMF has not approved the proposal. IMF raises some objections to Pakistan’s proposal The IMF raised a red flag about the plan, saying it may inflict more stress on the power sector. Dr. Irfan informed the committee that the agency is worried about market disruptions related to Pakistan’s plan for subsidized energy rates. This was after the IMF questioned Pakistan’s push for power in Bitcoin mining last month, warning of legal and power utilization issues. The global financial authority also listed several other concerns, such as the legality of mining crypto in Pakistan and further pressure on the overloaded power system. In addition, the fund cautioned about resource allocation and its impact on electricity prices. In May, Pakistan declared that it would dedicate 2,000MW of power to support crypto mining and data centers as a strategy to entice foreign investment. The Pakistan Crypto Council leads the initiative, with backing from the Finance Ministry. The IMF said Pakistan did not engage with the fund before announcing the plan. Meanwhile, Dr Irfan said that despite the IMF turning down the proposal earlier, the government is still negotiating with the regulatory body to revise its power subsidiary plan. Concerning the committee’s discussion, they also tackled the topic of technological measures that can help stop electricity theft. Notably, the government recently made a deal with scheduled banks to lower the amount of circular debt. This topic was also included in the committee’s discussion. Senator Shibli Faraz lamented that banks were “compelled at gunpoint” to give the loans. The committee has ordered the Power Division to provide detailed replies to address several issues at the next meeting. Pakistan plans power allocation for Bitcoin mining Earlier, Bilal Bin Saqib, the CEO of the Pakistan Crypto Council (PCC), announced that Pakistan intended to use some of its extra electricity for Bitcoin mining and AI data centers . He then added that they discussed the situation with various mining companies. Pakistan’s power sector faces challenges, including higher electricity prices and an excess power-generating capacity. Solar power’s rapid growth has become even more confusing, as many consumers are looking at alternative energy sources to offset high utility costs. Saqib highlighted that the location of the mining center will be decided by the availability of surplus power in different areas. Interestingly, Changpeng Zhao, the founder of Binance, was involved in this initiative. Reports revealed that Zhao acts as a strategic advisor to the Pakistan Crypto Council. In May last year, the founder of Binance received a four-month prison sentence after admitting to breaking US money laundering laws at the world’s biggest cryptocurrency exchange. His role in the Pakistan council included supporting blockchain infrastructure, providing regulatory framework advice, helping with national projects like digital currency and mining, and teaching young people about blockchain technologies. Saqib points out growing crypto adoption in Pakistan Saqib noted that the country has between 15 and 20 million crypto users, is the world’s third-largest freelancing economy, and has an expanding fintech sector. In a statement, he expressed that Pakistan ranks among the top 10 countries globally for crypto adoption , even though it has not been officially regulated. Meanwhile, concerning Pakistan’s finance ministry’s announcement that the country will provide 2,000 megawatts of electricity to support Bitcoin mining and AI data centers, this plan was part of Islamabad’s strategy to utilize its excess electricity for Bitcoin mining and AI data facilities. In addition to attracting foreign investment, the ministry said the initiative was meant to turn excess electricity into a source of income and provide advanced job opportunities. This allocation marked the beginning of the first step of a bigger plan to develop digital infrastructure in several stages. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
Cryptopolitan 2025-07-03 16:15
Binance has solidified its position as the dominant force in Bitcoin futures trading, capturing an impressive 87% share of the global taker buy volume. This commanding market presence underscores Binance’s
CoinOtag 2025-07-03 16:15
Bitcoin’s historical Q3 post-halving rallies suggest a significant price surge could be imminent, with potential gains pushing BTC toward $140,000 by August 2025. Past cycles reveal that July and August
CoinOtag 2025-07-03 16:02
On July 3rd, Bitcoin experienced a notable price adjustment, dipping below the $109,000 threshold, as reported by HT Market data. Despite this decline, the cryptocurrency registered a 24-hour gain of
CoinOtag 2025-07-03 15:50
Russian companies are offering investment insurance policies tied to the value of Bitcoin, the leading cryptocurrency by market capitalization. The new products expand crypto investment opportunities in Russia that have been growing since its central bank permitted the offering of derivatives based on decentralized digital assets. Russian insurers offer policies linked to American Bitcoin ETFs Two insurance firms, Renaissance Life and BKS Life Insurance, have announced crypto-related investment products on the Russian market, the Bits.media news outlet revealed on Wednesday. Renaissance Life is launching a Bitcoin-linked life insurance policy under its “Cryptocapital” program. It will provide up to 60% return on the growth of U.S. exchange-traded funds (ETFs) that track the price of Bitcoin (BTC). The policy is valid for two years with a minimum down payment of 1.5 million Russian rubles ($19,000), the report detailed. If a client invests that amount and the value of Bitcoin doubles during the period, they will eventually receive 2.4 million rubles (over $30,000) before tax, explained Oleg Kiselev, the company’s chief executive. And if the value of the cryptocurrency falls below the amount of the down payment, the investor will get 1.5 million rubles back, the CEO promised. Investors will have to spend at least 3 million rubles ($38,000) for the three-year policy linked to Bitcoin ETF futures that BKS Life Insurance is offering. Holders will be able to adjust the share of an asset included in the policy’s investment portfolio throughout the entire period, depending on market conditions. The unique crypto products will be available to qualified investors by the end of the year, the Russian companies said. Moscow Exchange to expand crypto futures offerings The yield of the new investment life insurance policies is linked to the growth of the shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT) through futures contracts traded on the Moscow Exchange (MOEX). Russia’s largest stock market started trading Bitcoin futures last month, shortly after the Central Bank of Russia authorized the sale of crypto derivatives to “ highly qualified investors ” in late May. Its initial offering is based on IBIT, the largest Bitcoin ETF by capital under management. The fund holds an estimated $70 billion in BTC, accounting for more than half of the capital of all U.S. Bitcoin ETFs. Later in June, the Russian platform announced it would offer a new futures contract on its own recently introduced Moscow Exchange PFI Bitcoin Index (MOEXBTC), calculated using price data from some of the largest global crypto exchanges. This week, the Managing Director of the Moscow Exchange, Maria Patrikeeva, revealed that the exchange is preparing to increase the number of listed crypto investment products. The executive explained that Russia’s current regulations allow the launch of derivative financial instruments using cryptocurrency-linked securities as underlying assets and elaborated: “These instruments are in demand by both professional market participants and qualified investors. Besides the futures contract on the iShares Bitcoin Trust ETF, we may consider other funds, for example, BlackRock’s ETF on Ether.” Patrikeeva highlighted that the contract on IBIT is already among the top 30 offerings on the Russian futures market. Since its launch on June 4, the product has already reached a daily trading volume of 1 billion rubles ($12.7 million). The MOEX official insisted that the exchange intends to play an active role in the future development of the Russian market for this new class of crypto-related assets within the country’s existing regulatory framework. Financial authorities in Moscow, namely the Bank of Russia and the Ministry of Finance, have stubbornly maintained that only qualified investors should have access to cryptocurrencies and their derivatives. However, according to a recent estimate , Russians already hold over $25 billion in crypto. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites
Cryptopolitan 2025-07-03 15:44
Bitcoin price struggles to surpass the $112,000 mark amid subdued spot buying and heightened retail FOMO, signaling potential short-term volatility. Despite recent rallies, the lack of strong spot market demand
CoinOtag 2025-07-03 15:36
On July 3rd, Bitcoin surged to a three-week peak of $110,279, driven by sustained inflows into Bitcoin ETFs and easing macroeconomic pressures. The recent trade agreement between the United States
CoinOtag 2025-07-03 15:35
Arthur Hayes has published a new essay, “Quid Pro Stablecoin,” arguing that the United States’ sudden political enthusiasm for bank-issued stablecoins is less about “financial freedom” and more about arming the Treasury with a multi-trillion-dollar “liquidity bazooka.” The former BitMEX chief—writing in his personal newsletter—contends that investors who postpone buying Bitcoin until the Federal Reserve resumes quantitative easing will serve as “exit liquidity” for those who bought earlier. How The Money Printer Is Already Warming Up At the core of Hayes’ thesis is the claim that eight “too-big-to-fail” banks hold roughly $6.8 trillion in demand and time deposits that can be transformed into on-chain dollars. Once customers migrate from legacy accounts to bank stablecoins—he cites JPMorgan’s forthcoming “JPMD” token as the template—those deposits become collateral that can be recycled into Treasury bills. “Adoption of stablecoins by TBTF banks creates up to $6.8 trillion of T-bill buying power,” he writes, adding that the product simultaneously slashes compliance overhead because “an AI agent trained on the corpus of relevant compliance regulations can perfectly ensure that certain transactions are never approved.” Related Reading: Bitcoin Seasonality: Why Summer 2025 Will Catch Everyone Off Guard Hayes layers a second mechanism on top of the stablecoin flow. If Congress strips the Federal Reserve of its ability to pay interest on reserve balances—a proposal floated by Senator Ted Cruz—banks would have to replace that lost income by buying short-dated Treasuries. He estimates the policy could “liberate another $3.3 trillion of inert reserves,” bringing the prospective fire-power for government debt purchases to $10.1 trillion. “This $10.1 trillion liquidity injection will act upon risky assets in the same way Bad Gurl Yellen’s $2.5 trillion injection did… PUMP UP THE JAM!” Hayes asserts. The essay frames the bipartisan GENIUS Act as the legislative linchpin. By barring non-banks from issuing interest-bearing stablecoins, Washington “hands the stablecoin market to banks,” ensuring that fintech issuers such as Circle cannot compete at scale and that deposit flight is funneled into the institutions most likely to bankroll the Treasury. Hayes calculates that the cost savings and enhanced net-interest margins could increase the combined market capitalisation of the big banks by more than 180 percent, a trade he describes as “non-consensus” but executable “in SIZE.” Buy Bitcoin Before The Fed Blinks Despite his long-term enthusiasm, Hayes cautions that a temporary liquidity drain looms once Congress passes what he labels Trump’s “Big Beautiful Bill.” Refilling the Treasury General Account to its $850 billion target could contract dollar liquidity by nearly half a trillion dollars, an impulse he believes may knock Bitcoin back toward the mid-$90,000s and keep prices range-bound until the Federal Reserve’s annual Jackson Hole conference in late August. Related Reading: Public Firms Snag 131,000 BTC, Surpassing ETFs In Bitcoin Purchases “I believe that between now and the August Jackson Hole Fed speech to be given by beta cuck towel bitch boy Jerome Powell, the market will trade sideways to slightly lower. If the TGA refill proves to be dollar liquidity negative, then the downside is $90,000 to $95,000. If the refill proves to be a nothingburger, Bitcoin will chop in the $100,000s without a decisive break above the $112,000 all-time-high,” Hayes writes. The punchline, however, is resolutely bullish. Hayes ridicules advisers steering clients into bonds on the premise that yields will fall: “If you’re still waiting for Powell to whisper ‘QE infinity’ in your ear before you go risk-on, congrats — you’re the exit liquidity. Instead go long Bitcoin. Go long JPMorgan. Forget about Circle.” In his view, the political machinery that props up US deficits has already selected bank stablecoins as the next round of stealth quantitative easing, and Bitcoin—alongside JPMorgan stock—is positioned to absorb the spill-over. Hayes signs off with a stark imperative: “Don’t sit on the sidelines waiting for Powell to bless the bull market.” The liquidity horse, he argues, has already bolted; investors who hesitate to buy Bitcoin risk being trampled beneath it. “You will miss out on Bitcoin pumping 10x to $1 million,” he concludes. At press time, Bitcoin traded at $109,449. Featured image from YouTube, chart from TradingView.com
NewsBTC 2025-07-03 15:30
The Altcoin Season Index (ASI) from CoinMarketCap reveals a decisive Bitcoin Season with a current score of 24, signaling Bitcoin’s dominance over altcoins in recent market trends. This index, which
CoinOtag 2025-07-03 15:06
Bitcoin traded at $109,943 on July 3, 2025, reflecting a robust recovery within the broader market trend. With a market capitalization of $2.186 trillion, 24-hour trading volume of $37.77 billion, and an intraday range of $107,269 to $110,117, price action showed a cautious approach toward resistance. Bitcoin On the daily chart, bitcoin displayed a bullish
Bitcoin.com 2025-07-03 14:30
Bitcoin dominance has reached a pivotal 64%, approaching a resistance level that historically signals the onset of significant altcoin rallies. Altcoins remain on the sidelines as Bitcoin dominance has yet
CoinOtag 2025-07-03 14:26
