While seeing Circle as well-positioned in the market, JPMorgan analysts warned that competition is a potential threat to the stablecoin issuer. Analysts at JPMorgan, a major US investment bank, have initiated coverage of Circle (CRCL) shares with an underweight rating and a $80 price target by December 2026. JPMorgan’s analysts, led by Kenneth Worthington, on Monday presented their first formal Circle stock analysis in the “North America Equity Research” report, seen by Cointelegraph. Down 55% from the current CRCL price of $180, the forecast is based on a 45x multiple of projected 2027 earnings per share (EPS) plus a $10 premium for upside potential. Read more
Kazakhstan’s central bank is set to establish a state-run crypto reserve, likely funded by seized digital assets and government-linked mining. The National Bank of Kazakhstan plans to establish a state-managed cryptocurrency reserve, according to a Monday report by government news agency Kazinform. Local authorities are studying the development of a crypto reserve, which would follow international practices. Typically, such reserves are likely to be funded with expropriated digital assets and state-run crypto mining operations, the report said. National Bank of Kazakhstan Chairman Timur Suleimenov acknowledged the volatility and risks associated with crypto assets. He said that placing the reserve under the control of a centralized institution would ensure proper oversight and risk management. Read more
Crypto ETPs saw $17.8 billion of inflows in the first half of 2025, down 2.7% from last year’s $18.3 billion, according to CoinShares. Cryptocurrency investment products posted another strong week, bringing total inflows for the first half of 2025 close to last year’s figure, according to a new report from digital asset manager CoinShares. Global crypto exchange-traded products (ETPs) posted $2.7 billion in inflows in the trading week ending Friday, marking 11 consecutive weeks of inflows, CoinShares reported on Monday. Given all half-year inflows minus outflows, crypto ETP gains totaled $17.8 billion in inflows, 2.7% down from last year’s $18.3 billion, said CoinShares’ head of research, James Butterfill. Read more
Cointelegraph is in the Kingdom of Bhutan to check the state of crypto adoption in the eastern Himalayan country. In a land where ancient monasteries overlook misty mountains, cryptocurrency is quietly becoming part of everyday life. During the Binance Crypto-Powered Tour in the Kingdom of Bhutan, Cointelegraph traveled across Bhutan’s capital city of Thimphu and the popular cultural and tourism district of Paro to gauge grassroots interest in crypto. At Changyul Park and a local four-star hotel, Cointelegraph witnessed firsthand how tourists and locals pay with crypto only months after crypto exchange Binance rolled out crypto payments in the country. Read more
Bitcoin is on the cusp of beating several historical all-time highs as a trader warns that "games are being played" in an increasingly volatile environment. Bitcoin (BTC) heads into a key double candle close just inches from records; can bulls stay in control? Bitcoin order-book liquidity games continue as the monthly and quarterly close sets the stage for sudden price moves. BTC/USD only needs to close June at $104,630 to seal its highest-ever monthly close. Read more
Hacked Iranian crypto exchange Nobitex is slated to resume withdrawal services, starting with verified users. Hacked Iranian crypto exchange Nobitex has begun the process of restoring services after it was attacked by pro-Israel hacker group Gonjeshke Darande earlier this month. The exchange stated that only users who have completed identity verification will have access to the wallet, with spot exchange users being given priority. Nobitex said users should avoid depositing their crypto into the exchange’s old wallets, as it could lead to users losing their funds. Read more