ProChain Capital increased in value +1.97% in June.
Year-to-date, ProChain has gained +11.25%.
Cryptocurrency investment is a MUST in every portfolio.
ProChain in the News
Global Business: State of U.S. Economy as Markets Hit Record Highs; CGTN America; July 1
Meta’s Bitcoin rejection means Big Tech is still skeptical; Cointelegraph, June 11
London talks are progressing slowly. And Trump promotes political optimism; Asharq Business; June 10
David Tawil (@DavidDTawil) broadcasts daily on X (Twitter) at 8am ET.
He is the co-host of #FinanceDaily, the most listened-to, live, daily finance program on X.
1. Adoption
Investment.
- Around 200 companies hold 30% of the total bitcoin supply.
- BBVA, the prominent Spanish bank, has recommended that its wealthy clients invest in Bitcoin as part of a diversified portfolio, reflecting growing institutional interest in cryptocurrency. The move signals increased mainstream acceptance of Bitcoin as a legitimate asset class, despite concerns over volatility.
- Texas has passed SB21, which enables the state to hold Bitcoin as part of its official reserves and authorized the purchase of $10m of Bitcoin.
- Texas is the latest state to approve Bitcoin as part of its official reserves, joining other states such as New Hampshire, Wyoming and Colorado in embracing digital assets.
Currency and Use
- At the direction of Bill Pulte, head of the FHFA, Fannie Mae (FNMA) and Freddie Mac (FMCC) have been directed by the U.S. government to assess cryptocurrency as a valid asset class when evaluating mortgage applications. This move could pave the way for broader integration of crypto assets in the housing market and may signal a shift in financial policy toward digital currencies.
- ProChain- With Bitcoin/crypto values buoyant and volatility down, it is increasingly likely that crypto assets will be seen as and valued as "bankable" assets; possibly even more bankable that many stocks.
- ProChain- The next big activity in crypto will be, with passage of the GENIUS Act, issuance and adoption of stablecoins. Every large company (financial, consumer, tech) is thinking about issuance and utilization of stablecoins.
- Walmart (WMT) and Amazon (AMZN) are considering launching their own stablecoins as part of a broader strategy to enhance payment systems and compete in the cryptocurrency space.
- Shopify (SHOP) has teamed up with Coinbase (COIN) and Stripe to enable merchants on its platform to accept stablecoin payments.
- The Depository Trust & Clearing Corporation (DTCC), the world’s largest financial clearinghouse for stocks and bonds, is exploring the launch of a stablecoin to modernize the clearing and settlement process.
- Ripple (XRP) is pursuing a U.S. banking license, as it seeks to broaden its regulatory approval and expand its financial services offerings in the U.S. This move highlights Ripple’s ambition to gain wider legitimacy in the traditional banking sector.
- Deutsche Bank is preparing to launch a crypto custody service by 2026, in collaboration with the digital asset platform Bitpanda, aiming to cater to institutional investors. The move underscores the growing institutional interest in cryptocurrencies and positions Deutsche Bank to serve the rising demand for secure, regulated crypto asset management.
2. Regulation and Legal
- House Republicans have launched “Crypto Week” to push forward a series of digital asset bills aimed at creating a clearer regulatory framework for the crypto industry. The initiative signals increased legislative momentum to define crypto policy before the upcoming elections.
- The Senate passed the Genius Act with bipartisan support, moving the legislation—which includes key crypto provisions—closer to President Trump’s desk. Lawmakers aim to finalize it by the end of July, though challenges remain in the House.
- A New York judge rejected a joint request from the SEC and Ripple to lift an existing injunction, maintaining restrictions on certain XRP-related activities.
3. Public Companies
- Trump-linked American Bitcoin Corp. and Gryphon Digital Mining (GRYP) moved closer to finalizing their merger and public listing.
- Also. American Bitcoin Corp. secured $220m in funding to expand its mining operations and build a Bitcoin treasury reserve.
- ProChain is a long-time investor (from prior to its IPO) in Gryphon.
- Crypto exchange Bullish, backed by billionaire Peter Thiel, has filed for an IPO as digital asset markets show signs of recovery. The move positions Bullish to tap public capital and compete with major exchanges like Coinbase (COIN).
- GameStop’s (GME) stock plunged after the company announced a convertible debt offering and a new focus on trading cards, raising concerns among investors about its strategic direction.
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