Top 5 Crypto News of the Week! (01 - 07 June)
Dear PointPay Family,
The past seven days have been incredibly eventful, filled with all sorts of developments, changes, and emotions. We've compiled a list of the top 5 most interesting and important developments from the past few days to keep you up to date on everything.
Strategy's first Bitcoin sale sparks debate over dividend-funded Treasury model
Strategy has broken with its long-standing Bitcoin accumulation approach after disclosing the sale of 32 BTC for approximately $2.5 million. The proceeds are expected to support obligations tied to the company's preferred shares, marking the first time the firm has sold part of its Bitcoin holdings since adopting its treasury strategy.
The announcement quickly drew attention across the market, especially after Executive Chairman Michael Saylor chose not to address the sale directly. Instead, he shifted focus toward STRC, Strategy's perpetual preferred stock, highlighting its risk-adjusted performance relative to traditional credit products. While the company still holds more than 843,000 BTC, the transaction has fueled discussion about whether Bitcoin sales could become part of Strategy's broader capital management framework as it balances shareholder payouts with its Bitcoin-focused strategy.
Bitcoin drops below $62K as liquidations sweep through crypto market
Bitcoin extended its decline on June 4, briefly falling to nearly $61,300 and triggering a sharp wave of liquidations across the digital asset market. The sell-off quickly spread to major altcoins, with Ethereum also retreating and testing levels below $1,800.
Over the past 24 hours, forced liquidations totaled roughly $1.63 billion, with long positions accounting for the vast majority of losses. Analysts attribute the downturn to a combination of continued outflows from spot Bitcoin ETFs, growing geopolitical uncertainty, and the breakdown of key technical support levels, which accelerated selling pressure through cascading liquidations.
Mastercard expands stablecoin settlement network to enable 24/7 payments
Mastercard is broadening its settlement infrastructure by introducing support for regulated stablecoins, a move designed to bring blockchain-based transactions deeper into mainstream financial operations. The new framework will allow participating institutions to settle transactions throughout the day, including weekends and holidays, while maintaining compatibility with existing fiat settlement systems.
The initiative will initially support several major stablecoins, including USDC, PYUSD, RLUSD, USDG, and USDP, across multiple blockchain networks. By enabling around-the-clock settlement, Mastercard aims to improve liquidity management and reduce reliance on traditional banking schedules. The expansion reflects growing demand for stablecoins as practical settlement tools, with financial institutions increasingly exploring blockchain-powered alternatives for cross-border payments and treasury operations.
Japan pushes for yen stablecoins and crypto ETFs to strengthen digital finance
Japan's ruling Liberal Democratic Party has urged the government to accelerate the adoption of yen-backed stablecoins across Asia while also creating a regulatory framework that would allow cryptocurrency exchange-traded funds to enter the domestic market. The proposal positions digital assets as an increasingly important component of Japan's financial future.
Lawmakers believe crypto ETFs could provide investors with a more accessible route to gaining exposure to digital assets, while yen-based stablecoins could strengthen Japan's role in regional payments and settlement infrastructure. The recommendations come as major Japanese banks continue experimenting with stablecoin initiatives and policymakers seek to balance innovation with concerns about the impact of privately issued digital currencies on traditional banking systems.
Bank of America appoints digital asset leader to drive crypto strategy
Bank of America has named longtime executive Adam Dixon as Global Head of Digital Asset Transformation, signaling a stronger commitment to cryptocurrency and tokenization initiatives. Based in London, Dixon will oversee the bank's efforts to develop and coordinate its digital asset strategy across business lines.
The appointment reflects a broader shift among major financial institutions as tokenized assets and blockchain-based financial products move closer to large-scale adoption. Having spent more than two decades at the bank, Dixon is expected to play a key role in transforming digital asset research and experimentation into operational products as competition intensifies across Wall Street.
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