Pi Network Makes Derivatives Debut as Kraken Lists PI Perpetual Futures

Arkham Intelligence has unveiled a new feature allowing users to track the wallets of Key Opinion Leaders (KOLs) on X (formerly Twitter).

This development comes amid a flurry of new meme coins, capitalizing on token launchpads for easy launches.

New Arkham Feature Lets Users Track Influencers’ Token Holdings

The update, announced in a recent post, introduces the “Key Opinion Leader (KOL) Label.” It tracks the wallets of influencers with over 100,000 followers on X.

“Influencers with more than 100K+ followers on Twitter/X are now tagged on Arkham with a new label: Key Opinion Leader,” read the announcement.

This means investors can monitor whether influencers genuinely back the tokens they promote or if their endorsements are merely paid advertising. The move has sparked widespread debate within the crypto community, particularly concerning its impact on influencer-endorsed meme coins.

“Biggest scammer on top! Now everyone can watch your wallets. But they should know y’all have multiple ones,” one user wrote.

The introduction of Arkham’s KOL Label comes amid increasing concerns over the reliability of influencer-backed tokens. A recent report revealed that 76% of influencer-endorsed tokens fail to deliver.

Specifically, their value plummeted by more than 90% within just three months.

As BeInCrypto reported, the research suggested earning up to $399 per promotional tweet, incentivizing certain influencers to prioritize financial gain over credibility.

It also showed that many promoted tokens lack fundamental utility and community engagement, leading to inevitable crashes.

“Influencers with over 200,000 followers tend to have the worst performance. The larger the influencer’s following, the lower the performance of the meme coins they promote,” the report claims.

Similarly, blockchain investigator ZachXBT recently exposed 16 influencer accounts on X that coordinated pump-and-dump schemes, leaving their followers to absorb the losses. This fueled debates about the ethical responsibilities of influencers in crypto markets.

With Arkham’s new tracking feature, investors can now scrutinize whether influencers hold the tokens they endorse. This could provide greater transparency in an industry plagued by misinformation and deceptive marketing tactics.

“Interesting move—transparency meets influence,” a user on X remarked.

The pattern mirrors previous crypto fads, where early investors profit while latecomers bear the brunt of financial losses. Arkham’s new tool could expose questionable practices, distinguishing genuine endorsements from misleading promotions.

By tracking influencers’ wallet activities, users can identify whether influencers hold the tokens they promote, indicating a true conviction. They could also spot red flags, such as influencers dumping tokens shortly after promoting them.

Experts, including Tron founder Justin Sun, emphasize the importance of fundamentals, tokenomics, and risk management for investors within the volatile meme coin market.

“I will check on the real social engagement. Are those likes real, or it’s just general bullshit? Do they have lots of influence, and the people really believe them? Also, I will see the founders, see their material, and see the memes they made and the videos they made. I will see if this is the right video and the right social engagement,” Sun elaborated.

These approaches reflect the importance of caution and due diligence instead of relying solely on influencer endorsement.

The post Arkham’s New Feature Can Trouble Crypto Influencers and Celebrity Meme Coins appeared first on BeInCrypto.

Tether, a leading stablecoin issuer, has published its first Q1 2025 attestation report on Tether Gold (XAUT). The report revealed that more than 7.7 tons of physical gold backed its tokenized gold product. 

The findings arrive amid growing demand for gold as an inflation hedge, driven by escalating geopolitical tensions.

Tether Gold Surpasses 7.7 Tons in Gold Reserves 

The company shared the report on April 28. It highlighted that as of March 31, 246,524.33 gold secure XAUT tokens were in circulation. Each token is pegged 1:1 to one troy ounce of physical gold stored in Swiss vaults. Thus, this amounts to 246,524.33 ounces or over 7.7 tons of gold.

“With XAUT, we’re offering users the ability to access the security of physical gold in a digital form—secure, easily transferrable, and backed 1:1 by fully held gold reserves. It’s part of our broader commitment to building financial tools that combine the best of traditional assets with the efficiency of blockchain technology,” Tether’s CEO, Paolo Ardoino, remarked.

Furthermore, 180,777.07 of the 246,524.33 XAUT tokens minted have already been sold. The corresponding gold reserves had a market value of approximately $564.67 million. 

The remaining 65,747.26 XAUT tokens are available for sale, backed by gold valued at around $205.37 million. Based on the gold price of $3,123.5 per ounce, the XAUT tokens’ market value was approximately $770.04 million.

The attestation was conducted under the new regulatory framework in El Salvador, where Tether Gold is now regulated. The London Bullion Market Association (LBMA) supplies the physical gold backing XAUT.

Meanwhile, Tether attributed the surge in XAUT adoption to escalating global economic uncertainty, heightened trade war tensions, and a rising demand for inflation-resistant assets. 

“Tether Gold continues to demonstrate the strength and resilience of gold as a store of value, especially in times of economic uncertainty,” Ardoino added.

The company’s statement aligns with broader market trends. According to the World Gold Council, gold demand grew by 1% year-over-year in Q4 2024, setting a new record for the quarter. In addition, central bank net purchases reached 1,044.6 metric tons in 2024, with 332.9 metric tons acquired in Q4 alone.

In fact, BeInCrypto previously reported that the US Dollar Index (DXY) dropped to a three-year low. This currency devaluation sparked a rally in gold, which reached a new all-time high.

This surge highlighted gold’s strategic role as a hedge against volatility, a trend that has also driven increased demand for tokenized gold assets like XAUT. According to BeInCrypto data, XAUT’s market capitalization reached $853.7 million last week, representing a new record peak.

Moreover, CoinGecko data shows that Tether Gold is the largest tokenized gold product, reinforcing its position in the digital asset ecosystem.

The post Tether’s Q1 2025 Report Reveals 7.7 Tons of Physical Gold Backing XAUT Tokens appeared first on BeInCrypto.

Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead. Grab a coffee and brace for impact as MicroStrategy (now Strategy) makes another bold move into Bitcoin (BTC), acquiring nearly $532 million worth and pushing its total holdings close to 600,000 BTC.

With the company now nearing a historic inclusion in the S&P 500 and its year-to-date (YTD) Bitcoin yield hitting nearly 20%, this could mark a pivotal moment in the growth of corporate crypto adoption.

Crypto News of the Day: Strategy Acquires 4,980 BTC, Eyes S&P 500 Entry

MicroStrategy has deepened its conviction in Bitcoin with a fresh purchase of 4,980 BTC for $531.9 million. The purchase, made at an average price of $106,801 per coin, brings the company’s holdings to 597,325 BTC.

According to the firm’s executive chair, Michael Saylor, these were acquired at a cumulative cost of $42.4 billion. With a blended average of $70,982 per Bitcoin, this brings Strategy’s YTD Bitcoin yield to 19.7%.

It also marks a key milestone in what may become the biggest traditional finance (TradFi) disruption yet: Strategy’s potential inclusion in the S&P 500.

BeInCrypto reported in a recent US Crypto News publication that MicroStrategy had a 91% chance of qualifying for inclusion in the S&P 500. The report cited insights from data analyst Jeff Walton, who said this wager hinged on Bitcoin’s price not falling more than 10% before June 30.

More closely, Walton pegged the critical support level at $95,240, enough to keep Strategy’s quarterly earnings in positive territory and meet the S&P’s requirement of four consecutive profitable quarters.

So far, that scenario is playing out. With just hours remaining in the quarter, Walton’s model puts the probability of a disqualifying 10% drop at just 1.8%.

“This is the first positive FASB Fair Value Accounting period for $MSTR’s BTC holdings, and $MSTR’s first earnings period > $500M Net Income in company history,” Walton posted on X.

If successful, Strategy would become the second crypto-linked company to enter the S&P 500 in 2025, following Coinbase’s historic addition in May. But not everyone is cheering.

“This event will cause TradFi brains to go into full meltdown… This will be the most hated rally of all time,” Walton warned.

From skeptics questioning BTC-linked earnings to doubters highlighting the lack of cash flow, Strategy’s rise continues to provoke debate over what qualifies as sustainable corporate performance in crypto.

A Bull Market Built on Debt? Risks of the Bitcoin Corporate Treasury Model

Strategy’s S&P 500 bid also comes as a wider wave of corporate Bitcoin adoption reshapes the digital asset investment sector.

A report from Breed.vc notes that 199 entities now collectively hold over 3 million BTC, worth approximately $315 billion. Based on the report, 147 of them are private or public companies.

Among them, Strategy stands tall, accounting for over 53% of the Bitcoin corporations held. Its dominance goes beyond size, bordering on execution.

As a result, the Strategy model is now being replicated by companies globally, from Japan’s Metaplanet to US names like GameStop, Strive, and Twenty One Capital, as indicated in a recent US Crypto News publication.

While the proliferation of Bitcoin-holding companies may appear bullish for BTC, it introduces a new layer of systemic fragility.

Strategy survived the brutal 2022–23 bear market, but only barely. Now, an extended downturn—especially one coinciding with maturing debt—could force liquidations. Such an outcome would trigger what analysts call a reflexive death spiral.

A falling MNAV erodes the company’s stock value, tightening access to capital, and potentially forcing BTC sales that drive prices even lower.

Smaller players are especially vulnerable. Without MicroStrategy’s scale, legacy revenue, or institutional inflows, these firms often face higher leverage ratios and worse financing terms. Should Bitcoin dip sharply, the resulting stress could cause cascading failures.

That said, contagion risk remains limited as most funding is equity-based, not debt-driven. Still, the few who overleverage in pursuing rapid BTC accumulation could set off domino effects.

Chart of the Day

This chart illustrates the cycle of a crypto market crisis. When the BTC price drops, it leads to forced liquidations, refinancing issues, and market panic, triggering further price declines and contagion.

Byte-Sized Alpha

Here’s a summary of more US crypto news to follow today:

• Metaplanet expanded holdings to 13,350 Bitcoin, now among the top 5 public holders.
• Gen Z loses faith in fiat currency as AI-driven job cuts reshape career paths and economic security.
• On-chain data suggests that Bitcoin price recovery may soon face headwinds. Rising sell-side pressure from miners and long-term holders (LTHs) threatens to correct the king coin’s recent gains.
• Arbitrum price is today’s top-performing token. It is up over 16% today, fueled by growing speculation surrounding a potential partnership with Robinhood.
• Is Bitcoin’s institutional boom a bubble waiting to burst? Experts warn of bear market risks.
• Bybit’s Byreal testnet launches today, June 30. It offers a hybrid DeFi experience that combines the speed of CEXs with DeFi transparency.
• Pi Network boosts accessibility with two new additions, but the price of PI Coin continues to slump.
• XRP Whales have accumulated over 610 million XRP worth $1.33 billion, signaling confidence in the asset’s long-term potential despite volatility.
• Crypto inflows surged to $2.7 billion last week, extending an 11-week streak, with Bitcoin leading the charge at $2.2 billion.

Crypto Equities Pre-Market Overview

The post MicroStrategy Nears S&P 500 Milestone | US Crypto News appeared first on BeInCrypto.