Crypto
Cryptocurrency Live News & Updates : Cardano Price Surge Signals Potential Risks – The Economic Times
Cryptocurrency News & Live Updates
Synopsis
Cardano’s price has increased for two consecutive days, reaching $0.60, driven by a significant development in its Bitcoin integration efforts. However, the coin’s price action suggests a potentially bearish pattern ahead.
Cardano (ADA) has seen a notable price increase, rising over 17% to $0.60, largely due to the first on-chain transaction proving Bitcoin’s state on its network, marking the start of a Cardano-Bitcoin bridge. Despite this bullish narrative, Cardano faces challenges, including a relatively inactive ecosystem and low total value locked in DeFi. Meanwhile, Dogwifhat (WIF) has also experienced a price surge, rising 43% to $0.92, with increased whale accumulation indicating potential for further gains. The token is forming a cup-and-handle pattern, suggesting a projected breakout target of $2.37. In regulatory news, concerns persist regarding stablecoin frameworks in the EU and Switzerland, with calls for clearer guidelines to support industry growth. Additionally, Fitch predicts the U.S. deficit will exceed 7% of GDP next year, highlighting broader economic challenges. Lastly, Amber International raised $25.5 million to expand its Crypto Ecosystem Reserve, reflecting a trend among crypto firms to bolster their balance sheets amid cautious funding cycles.
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Cardano Price Surge Signals Potential Risks
Cardano’s price has increased for two consecutive days, reaching $0.60, driven by a significant development in its Bitcoin integration efforts. However, the coin’s price action suggests a potentially bearish pattern ahead.
Dogwifhat (WIF) Price Surges: 155% Potential Upside
Dogwifhat (WIF) token has seen a 43% increase, reaching around $0.92, driven by whale accumulation and bullish market indicators, suggesting further growth ahead.
EU and Switzerland Face Stablecoin Regulation Issues
Peter Märkl of Bitcoin Suisse highlights ongoing regulatory ambiguities for stablecoins in the EU and Switzerland, stressing the need for clearer frameworks under MiCA and addressing challenges like KYC requirements.
U.S. Deficit Expected to Exceed 7% of GDP
Fitch’s Richard Francis forecasts that the U.S. government deficit will surpass 7% of GDP next year, with the debt ratio nearing 120% of GDP by 2026, despite anticipated tax cuts.
Amber International Secures $25.5M for Crypto Reserve Growth
Amber International Holding has raised $25.5 million to enhance its $100 million Crypto Ecosystem Reserve, aimed at supporting blockchain networks and product development.
Bitcoin (BTC) Hits 110,000 USDT with 0.80% Rise
As of July 3, 2025, Bitcoin has reached the 110,000 USDT mark, reflecting a modest 0.80% increase over the past 24 hours.
IMF Cautions Trump’s Tax Proposal Could Hinder Debt Reduction
The IMF warns that President Trump’s proposed tax legislation may obstruct efforts to lower fiscal deficits and debt levels, potentially increasing the deficit by $3.3 trillion.
Treasury Secretary Foresees Trade Agreements by July
U.S. Treasury Secretary Besant predicts that numerous trade agreements will be finalized by July 9, impacting around 100 countries with at least a 10% reciprocal tariff.
Ondo and Pantera Capital Launch $250M Initiative
Ondo Finance, in partnership with Pantera Capital, is initiating a $250 million fund to invest in projects focused on real-world asset tokenization.
Erebor Targets Financial Needs with Stablecoin Strategy
Erebor, a new crypto bank backed by notable figures, aims to fill the financial void left by Silicon Valley Bank’s collapse by focusing on stablecoin transactions and services for tech companies.
ETH Steady as U.S. Jobs Data Boosts Markets
ETH rose 0.55% to $2,584.90 following strong U.S. jobs data, which indicated labor market resilience and pushed the S&P 500 and Nasdaq to record highs.
Bitcoin Surpasses $110K Ahead of Jobs Report
Bitcoin’s market dominance has decreased slightly, now at 65%, as the U.S. jobs report is set to be released today, with expectations of a modest increase in nonfarm payrolls and a rise in unemployment.
OpenAI Disavows Robinhood’s Stock Tokens
OpenAI has denied any connection to Robinhood’s stock tokens, emphasizing that these tokens do not represent actual equity and warning users to exercise caution.
IMF Rejects Pakistan’s Electricity Subsidy for Crypto Mining
The IMF has turned down Pakistan’s request for subsidized electricity for crypto mining, despite plans to allocate 2,000 megawatts of surplus power to the sector.
SEC’s Grayscale Fund Delay Expected to Be Brief
The SEC has temporarily paused the launch of Grayscale’s Digital Large Cap Fund (GDLC) ETF for commissioner review, citing the need for standard-setting rather than political reasons.
Tether Mints 1 Billion USDT on Ethereum
Tether has minted an additional 1 billion USDT on the Ethereum network, as reported by Whale Alert, to manage liquidity and meet market demand.
Trump’s Budget Lacks Crypto Focus, Yet Market Gains
Despite no crypto provisions in Trump’s budget, the liquidity boost may positively impact crypto assets.
Binance Enhances Pay Send for Crypto Transfers
Binance has launched two key upgrades to its Pay Send service, introducing features that allow users to send cryptocurrencies via phone contacts and on-chain transactions, enhancing speed, security, and convenience.
U.S. Employment Data to Shape Dollar’s Future
Analyst Turner from ING emphasizes the importance of the upcoming U.S. non-farm employment report in assessing the dollar’s downward trend, with potential implications for interest rates.
Bitcoin (BTC) Falls Below 109,000 USDT
As of July 3, 2025, Bitcoin is trading at 108,959.99 USDT, reflecting a modest 1.55% increase over the past 24 hours, according to Binance Market Data.
BNB Falls Below 660 USDT with Minor Gains
As of July 3, 2025, BNB is trading at 659.69 USDT, reflecting a modest 0.46% increase over the past 24 hours.
Federal Reserve Expected to Keep Rates Unchanged
The CME’s FedWatch tool shows a 76.7% chance that the Federal Reserve will not alter interest rates in July, with a 23.3% possibility of a 25 basis point cut.
YZi Labs Joins $135M Investment in Digital Asset
YZi Labs has announced its participation in Digital Asset’s $135 million Series E funding round, joining major financial institutions to support the growth of the Canton Network, which facilitates on-chain asset tokenization for regulated institutions.
Why the U.S. Lacks a Bitcoin Reserve
Despite initial excitement from President Trump’s directive to establish a Bitcoin reserve, legislative hurdles and a lack of public plans have stalled progress.
Telegram’s Blockchain Developer Achieves Unicorn Status
The Open Platform has reached a $1 billion valuation after securing $28.5 million in funding, marking a significant step for the TON ecosystem in integrating crypto with Telegram’s vast user base.
Beijing North Fonda Partners with Guofu Quantum
Beijing North Fonda has formed a strategic alliance with Guofu Quantum Innovation Co., Ltd., focusing on virtual assets and digital currency to enhance their global fintech presence.
USD Faces Historic Challenges Ahead
Analysts report that the dollar has experienced its worst start to a year since 1973, with a significant decline in value against other currencies amid waning confidence in U.S. policies.
Michael Saylor’s Firm Faces Class-Action Lawsuit
A class-action lawsuit has been filed against Strategy and its executives, including Michael Saylor, over a reported $5.9 billion loss in Bitcoin holdings due to new accounting rules.
Pepe Coin Price Targets 70% Increase Amid Whale Activity
Pepe Coin (PEPE) surged to $0.0000107, driven by whale accumulation and a broader crypto market rally, with large holders increasing their stakes by 5% over the past month.
Treasury Secretary Addresses Dollar Decline Concerns
U.S. Treasury Secretary Besent has downplayed worries regarding the dollar’s recent depreciation, asserting that its value is not tied to the strong dollar policy, which focuses on long-term measures to maintain its global reserve status.
U.S. Unemployment Claims Increase Amid Job Market Focus
Despite a decrease in initial jobless claims, U.S. continuing unemployment claims have risen to 1.964 million, the highest since November 2021, with significant contributions from the Deep Tristate area.
Nano Labs Expands Holdings with BNB Acquisition
Nano Labs Ltd has acquired 74,315 BNB in an OTC deal, totaling around $50 million, raising its cryptocurrency reserves to approximately $160 million.
Tether Teams Up with Adecoagro for Bitcoin Mining
Tether has partnered with Adecoagro to explore renewable energy Bitcoin mining in Brazil, utilizing surplus energy from Adecoagro’s facilities.
U.S. House Passes Key Tax and Spending Legislation
On July 3, the U.S. House of Representatives voted to approve President Trump’s major tax reduction and spending bill, known as the ‘Big and Beautiful’ bill, with all Democrats and two Republicans opposing it.
Senator Lummis Proposes New Crypto Tax Legislation
Senator Cynthia Lummis has introduced a standalone cryptocurrency tax bill to reform the U.S. tax code for digital assets, including a $300 transaction threshold and tax parity with traditional financial assets.
Ripple Labs’ Banking License Bid Fuels XRP Speculation
Ripple Labs’ application for a U.S. banking license has sparked considerable speculation regarding XRP’s price, with analysts observing bullish momentum and potential resistance levels.
Sui Surges to $3 Amid Lion Group’s Treasury Plans
Sui (SUI) has reached around $3 following a week-long rally driven by Lion Group’s $600 million crypto treasury plan, marking a 15% increase over the past week.
Stablecoin Regulations May Boost Crypto Market to Trillions
Bo Hines, Executive Director of Trump’s Digital Asset Advisory Committee, predicts that stablecoin legislation could drive the cryptocurrency market’s growth to between $15 trillion and $20 trillion.
Nano Labs Invests $50M in BNB Acquisition
Nano Labs has initiated its strategy to acquire up to $1B in BNB by purchasing 74,315 tokens for $50 million in an OTC deal, signaling a shift in its business model amid declining hardware revenues.
Binance Enhances Pay Send for Crypto Transfers
Binance has rolled out two major upgrades to its Pay Send service, introducing features that improve the speed, security, and convenience of cryptocurrency transfers.
Key Takeaways
Word Play With a Warning
Robert Kiyosaki, the author of the best-selling personal finance book “Rich Dad Poor Dad,” is recasting a familiar piece of investing advice. In a post on X, he argued that many investors only believe they are protected, adding:
“De-Worse-ified means they think they are diversified, but they have all their diversified assets, such as gold, silver, Bitcoin, stocks, bonds, real estate, and oil, in one asset class.”
His point is that spreading money across many holdings does not help if those holdings all move the same way in a crisis. When a liquidity shock hits, correlations rise and supposedly diverse portfolios can fall in unison, leaving investors “de-worsified” rather than diversified.
The commentary is consistent with the stance Kiyosaki has pushed throughout 2026 as he recently named bitcoin among the safest investments for the year, grouping it with what he calls real assets. He has repeatedly listed gold, silver, oil, food, bitcoin, and ether as his preferred holdings, framing them as scarce stores of value that printed money cannot dilute.
He has paired that view with stark price calls, setting a target of $250,000 for BTC by year’s end alongside a longer-term goal of $1 million. At current levels, the move would require a gain of more than 230%. On the precious metals side of things, he recently suggested a possible $200-per-ounce silver level this year, calling the metal’s climb a signal of mounting financial stress.
Kiyosaki’s broader thesis is darker still, warning investors of a historic market crash that he ties to surging global debt and fragile private credit markets, urging followers to build income streams, learn trade skills, and accumulate hard assets before the storm.
Timing Is Everything
The “de-worsified” warning arrives at a tense moment for markets, especially as bitcoin posted its worst week since the 2022 collapse of Sam Bankman-Fried’s FTX exchange, sliding below $60,000 as record exchange-traded fund (ETF) outflows and risk-off sentiment gripped the sector.
That is exactly the kind of broad drawdown scenario (where bitcoin, equities, and other assets fall together) that Kiyosaki has used time and again to illustrate his point.
That said, he has become an increasingly polarizing voice within the broader economic landscape, with skeptics pointing out that his crash predictions are frequent and his price targets aggressive (and that he has issued similar warnings for years). Supporters argue his core message of owning scarce assets, avoiding hidden correlation, and preparing for volatility is a reasonable hedge against an era of heavy money printing and rising debt.
Whether or not his $250,000 bitcoin call lands, the distinction he is drawing is a real one, as true diversification really does depend on owning assets that behave differently (not simply owning many of them). In a market where everything from gold to crypto to stocks can move on the same macro headlines, that lesson may matter more than any single forecast.
North Carolina lawmakers on Tuesday advanced a bill to protect consumers from cryptocurrency kiosk fraud.
House Bill 920, which passed the House with a 115-to-0 vote, aims to regulate an industry that its author claims is unregulated in the state.
“It’s the wild, wild West,” Rep. Neal Jackson, R-Moore, said during a committee discussion on Tuesday. “There is no regulation whatsoever in North Carolina. That’s what we’re trying to do here.”
Lawmakers cited a growing amount of fraud as the reason for the bill. About $389 million in losses were reported last year through cryptocurrency ATMs, a 58% increase from 2024, according to the FBI. The majority of those impacted are 60-plus.
The bill now goes to the Senate for consideration. It seeks to:
- Require licenses for all kiosk operators under the Money Transmissions Act.
- Place operators under the supervision of the Commissioner of Banks.
- Require fraud warnings and transaction receipts for every transaction.
- Require compliance and consumer protection officers that are always available.
It also seeks to place limitations on transactions in an effort to reduce fraud, requiring a $2,000 daily limit for the first 30 days for new customers and a $5,000 daily limit for existing customers, who would qualify after 30 days.
While other states have service fees between 20% and 30%, Jackson suggests putting a cap at 14%.
State Rep. Tim Longest, D-Wake, expressed concern about having the kiosks at all in the state. He said the bill’s protections could be stronger.
“These machines can be the subject of fraud, basically facilitating fraud on seniors and other vulnerable individuals and in those cases,” Longest said. “… In crafting regulations, I think it’s important that we ensure consumers are adequately protected by those regulations and I do not believe that, under the language of the bill currently before you, those regulations are sufficient to protect consumers.”
Jackson pointed to this bill as an effort to regulate, not shut down, cryptocurrency kiosks in the state and said there are even more consumer protections in place.
David N. Tente, the executive director of the ATM Industry Association, said the bill — and others like it — is problematic because it requires operators to provide refunds to fraud victims in certain instances.
“In most cases, the cash in the ATM/kiosk does not belong to the operator, which means that returning any of it would be, technically, theft,” Tente said. “If you give someone cash for something, and you change your mind after they leave, you probably won’t get it back.”
He added: “We certainly feel sorry for those being scammed, but there are very simple things you can do to avoid it.”
Tente said these kinds of scams have existed for centuries, adding: “They are still here — just using different means of payment.”
Key Takeaways
- Zcash surged 11.3% to $478, reclaiming its top privacy coin status over monero after an 80% rally.
- The ZEC spike wiped out $11.5 million in short positions within 24 hours as bitcoin dropped below $63,000.
- Analysts like Matthew Brienen watch Zcash next to see how the market prices in the 2022 Orchard pool bug.
The Orchard Vulnerability
Privacy coin Zcash (ZEC) surged on Tuesday, jumping 11.3% to $478 as it maintained a steady recovery that began shortly after it plunged to just under $265. At the time of writing (5:32 a.m. EST), the privacy coin’s latest climb pushed its gains since June 5 to approximately 80% and saw ZEC’s market capitalization reclaim the $8 billion threshold.
The coin, alongside rival monero, was one of a handful of altcoins that logged gains exceeding 5% even as bitcoin dipped below the $63,000 threshold. ZEC’s surge above $470 on June 9 resulted in $11.5 million in short positions on the coin being wiped out in 24 hours, compared with $2.43 million in liquidated long bets.
While Zcash has since wrestled back its top-dog status from chief rival Monero, the asset is still trading at a steep discount compared to its pre-June 5 peak of just over $600. Before the correction, ZEC was riding a powerful wave of momentum, fueled by a resurgence in the crypto-privacy narrative and high-profile endorsements from industry heavyweights like Arthur Hayes. However, that bullish trajectory ground to a sudden halt. The catalyst for the reversal was the unsettling discovery of a critical vulnerability within Zcash’s Orchard shielded pool—a zero-knowledge security flaw that had quietly lay dormant since 2022.
Despite this, supporters of the privacy coin believe the uncovering of the bug has not damaged ZEC’s long-term appeal. Posting on X, Eunice Wong insisted there is an extremely low likelihood an exploit was executed and said traders who offloaded their holdings had overreacted.
“Long-term thesis hasn’t changed. In an AI-driven world where every transaction is tracked, financial privacy will become the scarcest asset, and ZEC is still one of the strongest privacy plays in crypto. Catching this falling knife is going to look like a genius move,” Wong wrote.
Matthew Brienen, managing partner at Cryptocharged, said while he recently reduced his ZEC holdings, it was purely a risk-management decision rather than a change in conviction. Nevertheless, he offered an explanation for why caution is warranted even if there is no proof that ZEC was counterfeited.
“The Orchard bug isn’t a confirmed inflation event. It’s a confirmed inability to prove supply integrity. Those are not the same thing. The most important fundamental fact to remember is that turnstile accounting is not the same as proving Orchard balances are legitimate. You can track what entered. You can track what exited. That doesn’t prove every claim inside the pool was valid,” Brienen explained.
He added, however, that if counterfeit Orchard notes do exist, they could remain hidden until redemption is ultimately forced. According to Brienen, the recent price action suggests that is exactly what the market is trying to price in.
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