South Korean prosecutors have arrested and indicted five suspects in what 
authorities say is the country’s first criminal case targeting a rug pull on a 
decentralized exchange, with the alleged scheme leaving 256 investors with 
approximately $600,000 (900 million won) in combined losses. CATFI, a Fake 
Influencer, and a DEX Exit The case centers on […]

South Korean prosecutors have arrested and indicted five suspects in what authorities say is the country’s first criminal case targeting a rug pull on a decentralized exchange, with the alleged scheme leaving 256 investors with approximately $600,000 (900 million won) in combined losses. CATFI, a Fake Influencer, and a DEX Exit The case centers on &#8230;

South Korea Files First Criminal Case Over DEX Rug Pull, Indicts Five in Solana Meme Coin Scheme

Bitcoin dropped closer to a critical support level as spot and long futures 
traders’ efforts to hold $75,000 failed. Is sub-$70,000 BTC next?

Bitcoin dropped closer to a critical support level as spot and long futures traders’ efforts to hold $75,000 failed. Is sub-$70,000 BTC next?

Bitcoin funding spike shows longs defending $70K: Will ETF outflows reverse bulls’ efforts?

SpaceX&#8217;s IPO could redefine market dynamics, influencing both aerospace 
investments and corporate cryptocurrency strategies globally.
The post SpaceX plans record-breaking $75B IPO this summer, reveals massive 
Bitcoin holdings appeared first on Crypto Briefing.

SpaceX&#8217;s IPO could redefine market dynamics, influencing both aerospace investments and corporate cryptocurrency strategies globally. The post SpaceX plans record-breaking $75B IPO this summer, reveals massive Bitcoin holdings appeared first on Crypto Briefing.

SpaceX plans record-breaking $75B IPO this summer, reveals massive Bitcoin holdings

ARK Invest CEO Cathie Wood has defended her bull case for Bitcoin reaching 
$1.25 million within five years, arguing that institutional allocation, 
digital-gold substitution and Bitcoin’s hard-coded scarcity remain the central 
pillars of the forecast. Speaking on Fox Business In Depth: The Crypto 
Campaign on May 26, Wood said ARK’s $1.25 million projection represents the 
firm’s bull case rather than its base case. The base case, she said, is 
“closer to $750,000.” But she framed the more aggressive target as a product 
of several overlapping shifts: younger investors treating Bitcoin as a digital 
store of value, emerging-market users seeking protection from monetary 
instability, and asset allocators beginning to treat crypto as a distinct 
investment category. “The biggest reason is institutional adoption,” Wood 
said. “This is a new asset class. It has very low correlation to other asset 
classes in terms of risks and returns. And so every asset allocator has a 
responsibility to examine it because it will increase risk-adjusted returns 
over time.” Why Bitcoin Could Hit $1.25 Million Within Five Years That 
allocation argument has long sat at the center of ARK’s Bitcoin thesis. In 
Wood’s framing, Bitcoin’s role is not limited to speculative upside. She 
described it as a potential substitute for gold as generational wealth changes 
hands, with younger investors more likely to adopt “a digital store of value.” 
She also called Bitcoin “an insurance policy,” especially in emerging markets 
facing what she described as “fiscal and monetary neglect at best or 
corruption at worst.” Related Reading: Bitcoin’s Worst Outflow Week Of The 
Year Just Happened — And The Timing Is Alarming Wood also tied Bitcoin’s 
potential growth to the expanding stablecoin market, though not in the way 
some crypto maximalists might expect. Rather than predicting an immediate 
displacement of the dollar, she argued that stablecoins could strengthen 
dollar distribution globally because major dollar-backed tokens are largely 
supported by US Treasuries. “Because of stablecoins, the dollar will also be 
strong,” Wood said. “So effectively stablecoins, so USDC, Circle’s stablecoin, 
and USDT, Tether’s stablecoin, they are backed primarily by US Treasuries. So 
to the extent they become successful around the world, we’re going to be 
effectively exporting dollars. And that should be dollar positive.” At the 
same time, Wood said she sees an asset-allocation shift beginning toward 
Bitcoin and other crypto assets, again citing their low correlation with 
traditional markets. Regulation was another major part of the discussion. Wood 
said the GENIUS Act and, potentially, the CLARITY Act could establish a 
framework that allows institutions to enter the crypto market more 
aggressively. She noted that the administration wants CLARITY completed by 
July 4, though she said she was unsure whether that timeline would be met. “I 
think once we do, because the odds have gone up recently that it will be 
passed, that we will see much more of an institutional swoosh into the space,” 
Wood said. The ARK founder also leaned into Bitcoin’s supply mechanics as a 
contrast with gold. She noted that roughly 20 million Bitcoin have already 
been mined out of the 21 million supply cap, leaving only about 1 million more 
to be issued. Gold supply, by comparison, rises at roughly 1% per year, she 
said, and could increase further in response to recent price gains. “Bitcoin 
is mathematically metered,” Wood said. “There will be no supply response. It’s 
just mathematically metered. And right now it’s increasing at 0.9% roughly per 
year, which is lower than gold’s long term. And in the next two years we’ll be 
down to 0.45% increase per year.” Related Reading: Bitcoin Could Fall To 
$40,000 If Saylor’s Bid Stalls, Ran Neuner Warns Wood acknowledged the debate 
over Bitcoin’s performance relative to gold during periods of macro stress, 
when gold has at times rallied while Bitcoin sold off. But she argued that the 
relationship between the two assets remains weak over longer periods, citing a 
correlation of 0.14 since 2019, when institutions began considering Bitcoin 
more seriously as an asset class. She also said gold has tended to lead 
Bitcoin in recent cycles, and argued that the two may now be changing places 
as Bitcoin builds momentum while gold weakens. In her view, a stronger dollar 
could become a mild headwind for gold, while Bitcoin’s institutional adoption 
story continues to develop separately. At press time, BTC traded at $75,034. 
Featured image created with DALL.E, chart from TradingView.com

ARK Invest CEO Cathie Wood has defended her bull case for Bitcoin reaching $1.25 million within five years, arguing that institutional allocation, digital-gold substitution and Bitcoin’s hard-coded scarcity remain the central pillars of the forecast. Speaking on Fox Business In Depth: The Crypto Campaign on May 26, Wood said ARK’s $1.25 million projection represents the &#8230;

Cathie Wood Doubles Down On $1.25 Million Bitcoin Target

The IRGC&#8217;s actions heighten US-Iran tensions, reducing prospects for 
diplomatic resolutions and increasing regional instability risks.
The post IRGC retaliates against US base amid heightened tensions with Iran 
appeared first on Crypto Briefing.

The IRGC&#8217;s actions heighten US-Iran tensions, reducing prospects for diplomatic resolutions and increasing regional instability risks. The post IRGC retaliates against US base amid heightened tensions with Iran appeared first on Crypto Briefing.

IRGC retaliates against US base amid heightened tensions with Iran

Geopolitical tensions heighten market volatility, impacting global supply 
chains and inflation, while crypto markets show mixed resilience.
The post Stocks drop and oil spikes as renewed Middle East attacks rattle 
markets appeared first on Crypto Briefing.

Geopolitical tensions heighten market volatility, impacting global supply chains and inflation, while crypto markets show mixed resilience. The post Stocks drop and oil spikes as renewed Middle East attacks rattle markets appeared first on Crypto Briefing.

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