Author: Blockto Team

New Bill Targets Automatic Exchange of Crypto Information Switzerland has taken a major step in aligning its financial transparency policies with global standards by approving a bill to automatically exchange crypto-related tax information with 74 countries, including all European Union member states and the United Kingdom. The Swiss Federal Council announced the adoption of the bill on June 6, aiming to implement the automatic exchange of information (AEOI) on crypto assets beginning January 1, 2026. The proposal aligns with international efforts to close regulatory gaps in the rapidly evolving cryptocurrency sector and improve cross-border tax compliance. Data Exchange to Begin…

Price Drops, Then Rebounds on Strong Demand Cosmos (ATOM) faced downside pressure in recent trading, dropping 4.7% to a low of $4.25 before staging a modest recovery. The sell-off came amid broader market volatility, with geopolitical tensions and public clashes between key figures, such as Tesla CEO Elon Musk and U.S. President Donald Trump, influencing investor sentiment. Despite the dip, ATOM found strong support at the $4.25 level, which triggered a recovery rally as buyers entered the market. Institutional Interest at Key Support Zone The technical structure of ATOM shows a well-defined support zone between $4.25–$4.27, validated by a volume…

U.S. spot Bitcoin ETFs suffered a sharp reversal on June 5, bleeding $278 million in outflows as investor sentiment soured amid a very public feud between President Donald Trump and Elon Musk. The fallout triggered a wider market reaction, with Tesla (TSLA) down 14% and Trump Media (DJT) falling 8%, further compounding investor uncertainty. Key ETF Flow Developments Sentiment Shifts, Market Wobbles The Cryptocurrency Fear & Greed Index — a widely watched market sentiment gauge — has swung back into “Fear” for the first time in over a month. This reversal coincided with the intensifying rift between Trump and Musk,…

Solana (SOL) experienced significant volatility in the last 24 hours, falling 8.1% from $154.48 to $141.75 before stabilizing near $147.40. This decline, driven by geopolitical tensions and global trade fears, triggered a mini flash crash, but buyers quickly stepped in, showing resilience in market sentiment. The sharp drop shook out weak hands, but the bounce from $142 indicates strong buying interest at key support levels. Flash Crash Followed by Buying Surge The flash crash occurred around 01:20, with volume peaking at 24,507, pushing the price down to $144.93. However, a strong recovery followed, highlighting active demand even during uncertainty. This…

U.S. Fiscal Policy Faces Growing Scrutiny The U.S. national debt has reached a staggering $36 trillion, with annual interest payments crossing $1.13 trillion. The federal deficit for FY 2024 alone stands at $1.8 trillion. These alarming figures have intensified concerns among investors and economists about the sustainability of the current fiscal system. Recently, Elon Musk criticized the projected $2.4 trillion increase in the deficit resulting from recent tax reforms. This criticism has fueled debate over the long-term viability of U.S. economic policy. The repeated raising of the debt ceiling is increasingly seen as an artificial measure masking fiscal instability. Bitcoin…

Ripple’s RLUSD Approval and ETF Speculation Fuel Price Rebound XRP surged 7% to $2.20, rebounding from a sharp sell-off that briefly pushed the token down to $2.07, amid a turbulent session marked by increased market-wide volatility. High-Volume Sell-Off Followed by Bullish Recovery During the 19:00–20:00 hour, XRP witnessed intense selling pressure, with trading volume spiking to 228.6 million units, nearly double its daily average. The steep decline quickly found a support base at $2.07, triggering a wave of buying interest in the $2.10–$2.15 range. The price action has since formed a higher-low structure, a bullish technical signal suggesting momentum may…

Strong Market Debut Recalls Coinbase’s Volatile Entry in 2021 Circle (CRCL) surged 167% on its first trading day, closing at $83, up from its IPO price of $31, in a debut that drew immediate comparisons to Coinbase’s 2021 public offering. The stablecoin issuer saw its stock reach an intraday high of $104, with first trades executed at $69, reflecting robust investor demand. This IPO marks a significant milestone for the stablecoin sector, which plays a crucial role in the digital asset ecosystem. Investor Sentiment Fueled by Stablecoin Growth Circle’s business is anchored around USDC, a U.S. dollar-pegged stablecoin widely used…

Meme Coin Suffers Sharp Pullback as Institutional Selling Intensifies Dogecoin (DOGE) plunged 12.5% over the past 24 hours, falling from $0.193 to a low of $0.169, as escalating tensions between Donald Trump and Elon Musk added to a risk-off tone in crypto markets. The correction comes amid broader institutional repositioning and growing uncertainty around macroeconomic policies. Musk Comments Fuel Speculation — and Sell-Off Once a reliable bullish trigger, Elon Musk’s support for DOGE took a bearish turn after he announced the Department of Government Efficiency (DOGE) — a symbolic nod to the meme coin — would be “shut down” following…

Dispute Emerges Over Official Use of Trump’s Name in Crypto Wallet World Liberty Financial (WLFI), the crypto platform tied to U.S. President Donald Trump and his family, has issued a cease-and-desist letter over a planned wallet project that used the Trump brand without authorization. According to a June 5 report, WLFI sent the letter to Fight Fight Fight LLC, the entity behind GetTrumpMemes.com and the controversial TRUMP memecoin. The warning came after both the memecoin team and Magic Eden, a popular NFT marketplace, announced a waitlist for a Trump-branded crypto wallet. Trump Organization Denies Involvement On June 3, Donald Trump…

Taiwan-Based Exchange Victim of Cyberattack on Hot Wallet BitoPro, a leading cryptocurrency exchange based in Taiwan, has confirmed a cyberattack on an outdated hot wallet, resulting in losses exceeding $11 million. The breach occurred on May 8 during a scheduled wallet system upgrade, and was initially reported by blockchain investigator ZachXBT. Exchange Responds Swiftly to Contain Damage The exchange immediately took action, stating, “Upon detection, we quickly launched an emergency response, secured assets by moving them to new wallets, and blocked the attacker.” According to BitoPro, user assets remained completely unaffected, and all services continued to function normally, including trading,…