XRP traders say it has the potential to rally to $27 as ETF approval odds increase. Key takeaway: Analysts predict XRP could hit $20–$27 in 2025. XRP ETF approval odds jump to 98% on Polymarket. Read more
A multi-agency investigation traced illicit funds to a suspected $123 million crypto laundering operation hiding behind a security company. Australian authorities have charged four individuals following an 18-month investigation into a $190 million Australian dollar ($123 million) crypto laundering operation allegedly run through a cash-in-transit security company. The Australian Federal Police said they had frozen about $13.6 million worth of suspected criminal assets across the states of Queensland and New South Wales. The Queensland Joint Organized Crime Taskforce (QJOCT), comprising 70 officers from federal and state agencies, began the investigation in December 2023. It reportedly uncovered an operation that used an armored vehicle unit of a security business as a front to launder criminal proceeds into cryptocurrency. Read more
Strategy has acquired 1,045 Bitcoin for $110.2 million as part of its ongoing accumulation strategy, bringing total holdings to 582,000 BTC. Strategy has acquired $110.2 million worth of Bitcoin as the price trades near its all-time high level. According to a Monday US Securities and Exchange (SEC) filing, Strategy acquired 1,045 Bitcoin (BTC) at an average price of $105,426 per coin. The company now holds 582,000 BTC acquired for about $40.8 billion at an average price of around $70,086 per BTC. The announcement follows Strategy co-founder and executive chairman Michael Saylor hinting at the purchase on June 8. The buy marks the ninth consecutive week that Strategy has acquired Bitcoin. Read more
A new Ethereum privacy proposal suggests modular design and privacy tech can help the network align with EU GDPR rules while preserving decentralization. As the Ethereum ecosystem and its core principles evolve to address data privacy concerns, a new proposal recommends a modular compliance strategy as a path to reconcile public blockchains with the European Union’s General Data Protection Regulation (GDPR). On Monday, a proposal drafted by Ethereum community member Eugenio Reggianini suggested the use of modular architecture for effective data management and privacy. “By pushing personal data to the edges (wallets and DApps), using offchain storage with metadata-erasure, and splitting roles cryptographically, we can focus GDPR controller duties on a small set of entities, while the wider network becomes mere processors or falls out of scope,” Reggianini said. Read more
Kakao-backed blockchain Kaia joins South Korea’s stablecoin race as the tech giant’s payments app surges 30% on the stock market. Layer-1 blockchain Kaia has pledged to launch a South Korean won-based stablecoin following the Wednesday inauguration of President Lee Jae-myung, a left-leaning politician whose campaign included a series of crypto-friendly promises. Launching a won-based stablecoin is one of the crypto goals laid out during Lee’s campaign that set him apart from other crypto-friendly candidates. The issuance of stablecoins faces legal hurdles, as South Korea’s constitution grants exclusive authority over currency issuance to the central bank, the Bank of Korea. Read more