Jupiter exec Kash Dhanda announced a pause in DAO governance voting until 2026, citing the need to prioritize growth and product execution. Kash Dhanda, chief operating officer of the Solana-based Jupiter decentralized exchange (DEX), said the protocol will pause governance voting. In a lengthy Thursday announcement, Dhanda said Jupiter “stands at the edge of an inflection point” and “the window to define the future of DeFi is open, but it won’t stay open for long.” Dhanda highlighted the need to “be laser-focused on growth,” and said Jupiter was suspending the decentralized autonomous organization (DAO) structure, which he said “isn’t working as intended.” Read more
Despite Bitcoin’s rise, major corporations like Meta, Amazon and Microsoft are steering clear of holding it in their treasuries, favoring stability over crypto risk. When a company holds Bitcoin on its balance sheet, it is referred to as a corporate Bitcoin treasury. Instead of only holding traditional financial assets and cash, organizations can also own Bitcoin as an alternative store of value or investment strategy. The approach of converting cash holdings into cryptocurrency is a new shift in corporate finance strategy. The concept has gained huge media coverage in recent years, with Strategy’s consistent Bitcoin treasury growth sparking debates. Read more
XRP price struggles due to declining open interest and weakening network activity, as a classic chart pattern points to a further downside for the altcoin. Key takeaways: Declining daily active and new addresses signal reduced network activity, less demand for XRP. XRP open interest is down 30% in a month. Read more
BlackRock’s ETF is nearing the $70 billion mark as Bitcoin transactions continue to be dominated by large investors. Update June 20, 1:49 pm UTC: This article has been updated to include quotes from Brickken analyst Enmanuel Cardozo. BlackRock’s spot Bitcoin exchange-traded fund (ETF) is nearing the $70 billion mark in assets under management, signaling growing interest from institutional investors even as retail inflows appear to be slowing. BlackRock, the world’s largest asset manager, has acquired over $69.7 billion worth of Bitcoin (BTC) through its iShares Bitcoin Trust (IBIT) ETF, representing over 3.25% of the total BTC supply. Read more