Author: Monicah W

BitMine Immersion Technologies (BMNR), a publicly traded company focused on Bitcoin (BTC) mining, has seen a dramatic 694.8% surge in its stock price following the announcement of its $250 million Ethereum (ETH) treasury strategy.

The firm has also appointed Tom Lee, CIO of Fundstrat Capital, as the chairman of its board of directors.

BitMine Announces Ethereum Treasury Plans

According to the press release, BitMine is set to raise $250 million through a private placement. The offering will involve the sale of over 55 million shares at $4.50 per share. The transaction is expected to close on July 3.

“The private placement will accelerate BitMine’s treasury holdings shortly after its first treasury purchase on June 9, 2025. FalconX, Kraken, and Galaxy Digital plan to partner with the Company to grow a world class Ethereum treasury strategy alongside existing custody partners, BitGo and Fidelity Digital,” BitMine’s CEO, Jonathan Bates, stated.

BitMine plans to use the net proceeds to acquire Ethereum as the company’s primary treasury reserve asset. By holding ETH, BitMine aims to position itself as one of the largest publicly traded holders of the second-largest cryptocurrency. 

“A differentiating feature of Ethereum is the enabling of smart contracts and the majority of stablecoin payments, tokenized assets, and decentralized financial applications are transacted on Ethereum,” the firm noted.

This treasury will also provide the firm access to Ethereum’s native blockchain features, including staking and decentralized finance (DeFi) applications. These capabilities will enable BitMine to generate additional value from its ETH holdings while maintaining its focus on Bitcoin mining and other core business operations.

“Goal: make BitMine the largest publicly traded ETH holder, mirroring what MicroStrategy did for BTC, except with an asset that actually yields. Lee calls the model the “MicroStrategy of Ethereum,” analyst Eric Conner wrote.

Notably, the announcement led to a notable rise in the firm’s stock prices. Google Finance data showed that BMNR’s value appreciated by 694.8% to close at $33.9. The positive momentum continued in after-hours trading as the stock rose further by 40.4%. 

The firm now joins SharpLink Gaming, Bit Digital, and BTCS, all of which have adopted Ethereum as a reserve asset.

Is Ethereum Positioned for Growth with Stablecoin Expansion?

The increasing number of companies choosing Ethereum over Bitcoin reflects a growing belief in Ethereum’s long-term potential. This confidence is particularly fueled by the latest growth in the stablecoin sector.

Tom Lee, now Chairman of BitMine, likened stablecoins to the ‘ChatGPT of crypto,’ emphasizing how they have quickly gained traction among consumers, merchants, and financial services providers. 

Previously, Treasury Secretary Scott Bessent projected that the stablecoin market could grow to $2 trillion by 2028. Since Ethereum is the primary blockchain for stablecoin transactions, ETH is well-positioned to benefit from this growth.

“One of the key performance metrics (KPI) for BitMine going forward is to increase the value of ETH held per share. This can be achieved by a combination of reinvestment of the Company’s cash flows, capital markets activities, and by the change in value of ETH,” he added.

Lee is not alone in his optimism about Ethereum’s prospects. Experts foresee the altcoin reaching new heights as stablecoins gain increased attention.

“The recent movement regarding the GENIUS Act, which provided a long-awaited regulatory framework around stablecoins, has been a major catalyst for ETH’s recent performance. As the home to the majority of stablecoin volume, Ethereum stands to benefit a lot from this policy development due to its role in supporting the stablecoin infrastructure,” MEXC Research told BeInCrypto.

MEXC Research suggested that as risk sentiment improves with stabilizing geopolitical conditions and enhanced global liquidity, ETH is positioned to experience further growth in the coming weeks. 

They forecasted that if macroeconomic factors remain favorable, ETH could potentially rise to $3,000 or even $3,300. However, an unexpected event, like a ‘black swan’ scenario, might cause a drop below $2,350, leading to a deeper correction towards $2,100.

The post BitMine’s $250 Million Ethereum Bet Drives 695% Stock Surge, Tom Lee Joins as Chairman appeared first on BeInCrypto.

Gate, a globally leading cryptocurrency trading platform, has officially surpassed 30 million registered users, marking a new milestone in its global expansion. This remarkable achievement underscores the platform’s growing influence across international markets and highlights the progress Gate has made in strategic transformation, brand upgrade, and ecosystem development.

Ushering in the “30 Million+” Era: Unlocking Network Effects Across the Ecosystem

Behind this threshold of the 30 million user base is the steady implementation of Gate’s international strategy and the continuous enhancement of its product suite, technical foundation, security framework, and brand recognition. In an industry where the competitive landscape is rapidly evolving, a consistently expanding user base stands as a critical measure of platform vitality and market trust.

This expanding global community significantly strengthens Gate’s liquidity and trading depth, while laying a solid foundation for the sustainable growth of its broader ecosystem, fueling a strong and self-reinforcing network effect across products and services.

Impressive Operational Momentum: Spot and Futures Drive Dual Growth

According to Gate’s May 2025 Transparency Report, the platform continues to post robust growth in both trading activity and ecosystem expansion. Spot and futures trading volumes have seen simultaneous surges, with Gate’s derivatives products now ranking among the industry’s top-tier experiences. Daily trading volumes are hovering at historical highs.

Currently, Gate ranks second globally in 24-hour spot trading volume, with its token liquidity and trading breadth consistently in the top three worldwide. Derivatives have become one of the platform’s strongest growth engines, with users actively engaging in leveraged and strategy-based trading. Meanwhile, flagship product lines including Launchpad, Gate Alpha, Launchpool, HODLer Airdrop and CandyDrop have delivered outstanding performance, significantly enhancing user engagement and capital activity across the platform.

A Renewed Brand Vision: Entering a New Strategic Chapter

In May, Gate celebrated its 12th anniversary by unveiling a brand-new vision as the “next-generation crypto exchange.” The platform officially adopted the new global domain Gate.com and introduced an updated logo, marking its transformation from a market leader to an industry trailblazer and enhancing its global brand visibility.

On the compliance front, Gate continues to strengthen its global regulatory framework. Its entity Gate Technology FZE has officially obtained a VASP license under the supervision of the Dubai Virtual Assets Regulatory Authority (VARA), reinforcing the platform’s regulatory foundation in the Middle East and broader international markets.

Building User Trust: A Relentless Commitment to Security and Transparency

Gate remains an industry leader in asset security and reserve transparency. As of June 2025, Gate holds a total reserve value of $10.453 billion, with a reserve ratio of 123.09%. The platform’s reserves fully cover user assets across 350+ cryptocurrencies, with $1.96 billion in excess reserves, far exceeding industry benchmarks. Gate’s rigorous proof-of-reserves practices and cutting-edge security technologies continue to solidify user trust and lay a robust foundation for long-term, sustainable growth.

Looking Ahead: Driving Innovation and Shaping the Future of Crypto

As Gate moves into its next chapter, it will continue enhancing the on-chain trading experience, expanding forward-looking Web3 infrastructure services, and exploring innovative intersections between AI and crypto technologies. At the same time, Gate will deepen collaboration with global users, developers, and institutional partners, co-creating an open, transparent, and resilient next-generation digital asset ecosystem.

Gate remains committed to opening the gateway to a smarter, safer, and more inclusive crypto future for users around the world.

About Gate

Gate, founded in 2013 by Dr. Han, is one of the world’s earliest cryptocurrency exchanges. The platform serves over 30 million users with 3,600+ digital assets and pioneered the industry’s first 100% proof-of-reserves. Beyond core trading services, Gate’s ecosystem includes Gate Wallet, Gate Ventures, and other innovative solutions, while its global partnerships extend to top-tier sports brands like Oracle Red Bull Racing in F1 and Inter.

For more information, please visit: Website | X | Telegram | LinkedIn | Instagram | YouTube

Disclaimer:

This content does not constitute an offer, solicitation, or recommendation. You should always seek independent professional advice before making investment decisions. Gate may restrict or prohibit certain services in specific jurisdictions. For more information, please read the User Agreement. 

The post Gate Surpasses 30 Million Global Users, Accelerating Its Rise as the Next-Generation Crypto Exchange appeared first on BeInCrypto.

Solana’s DeFi ecosystem is getting major boosts, with PancakeSwap officially launching its v3 liquidity pools on the network.

At the same time, Kamino Finance has announced support for tokenized equities (xStocks), deepening Solana’s growing reputation as the infrastructure layer for “internet capital markets.”

PancakeSwap v3 Brings Capital-Efficient DeFi to Solana

PancakeSwap’s latest deployment introduces its Concentrated Liquidity Automated Market Maker (CLAMM) pool structure to Solana. It unlocks new capital-efficient trading tools, ultra-low fees, and high-yield opportunities for liquidity providers.

“PancakeSwap v3 liquidity pool is now live on Solana,” PancakeSwap shared in a post.  

The launch allows traders to swap Solana-based tokens with fees as low as 0.01%. Meanwhile, liquidity providers (LPs) can earn up to 84% of the trading fees based on the liquidity they contribute.

Further, liquidity provisioning is also live for key Solana pairs such as BONK-SOL, PYUSD-USDT, and EURC-USDC.

“With Solana joining the ranks of PancakeSwap’s multi-chain ecosystem, we’re moving closer to creating a truly borderless DeFi experience,” the team stated in a blog.

They emphasized Solana’s “unmatched speed and low fees” as a key integration driver. According to the team, Solana’s active community and high on-chain volume significantly drove this initiative.

PancakeSwap v3 allows LPs to set custom price ranges for their positions, enhancing capital efficiency by reducing idle liquidity.

“By concentrating liquidity within a specific price range, LPs can boost liquidity depth and potentially earn higher returns, all without having to deploy more capital,” the blog explained.

Another key innovation is the introduction of NFT-based LP positions, where each liquidity contribution is minted as a unique non-fungible token (NFT). This structure lets users easily track, manage, or transfer their positions.

Kamino Launches xStocks for Tokenized Stock Trading on Solana

Meanwhile, Kamino Finance adds to the momentum, announcing its integration of tokenized equities dubbed xStocks into the Solana ecosystem.

Backed xStocks will be collateral within Kamino’s lending markets and can be traded on Kamino Swap. This means users can swap crypto for stocks.

Supported tokenized assets include major US equities such as Apple, Nvidia, Google, Meta, Tesla, SPDR S&P 500 ETF Trust, and Invesco QQQ Trust.

“Via the Kamino Lend integration, users will be able to deploy their xStocks as collateral via a new xStocks Market, enabling borrows against the following assets: AAPLx NVDAx GOOGLx METAx TSLAx SPYx QQQx,” Kamino articulated.

These will be accessible via Kamino Swap, powered by Pyth Network’s Express Relay, or through centralized platforms like Kraken exchange, with users transferring them to Solana.

Notably, Kamino’s xStocks integration will exclude US users due to regulatory constraints, but it still marks a pivotal step in DeFi’s overlap with traditional finance (TradFi).

Together, these announcements reinforce Solana’s broader mission of an internet capital markets powered by its blockchain.

internet capital markets, powered by Solana https://t.co/kBvzPMVv7v pic.twitter.com/N4ojCgsz4q

— Solana (@solana) June 30, 2025

With capital-efficient AMMs and tokenized equity markets now live, Solana is cementing itself as a next-gen financial hub.

However, despite these bullish fundamentals for the Solana blockchain, its powering token, SOL, is treading lower, down 0.49% in the last 24 hours. As of this writing, Solana was trading for $149.94.

The post Swap Crypto for Stocks? Kamino and PancakeSwap Boost Solana DeFi appeared first on BeInCrypto.

Pi Network introduced two significant updates on the annual Pi2Day 2025: the Pi App Studio and Ecosystem Directory Staking. 

While the Pi App Studio has been welcomed as a tool for developers to build applications, the Ecosystem Directory Staking feature has ignited confusion and controversy among its user base, particularly due to the absence of profit for participants.

What is Pi Network’s New Staking Feature? 

The Ecosystem Directory Staking mechanism allows users to stake Pi Coin on the mainnet blockchain to enhance the ranking of selected apps within the Pi ecosystem. This voluntary system increases visibility for quality apps and community engagement. 

This is quite different from traditional staking models in the cryptocurrency space. In traditional staking, participants typically lock up a cryptocurrency in a network to support its operations (like securing the network or validating transactions) in exchange for rewards, such as more of the cryptocurrency. This departure from conventional staking practices left Pioneers confused.

“Pioneers! There is another misunderstanding about this new staking feature. You WILL NOT get Pi rewards for staking for ranking apps! Please read carefully, as always! When staking ends, you get your Pi back minus transaction fee,” a user posted.

Moreover, the lack of clear communication from Pi Network’s Core Team has exacerbated the confusion. Many users pointed out that the no-reward aspect was not clarified at the time of the announcement.

“A new paragraph has been added to the Pi Blog, clearly stating that there are no rewards for Pi staking. If this point had been emphasized multiple times from the beginning, many people would have understood it more easily,” another Pioneer added.

While staking doesn’t provide Pi rewards at the protocol level, there are provisions for incentives from the developer side. Developers can motivate users by offering incentives like app enhancements, in-app rewards, or promotions. Moreover, the team noted that users would receive their original staked amount back once the staking period had concluded. 

“When you stake, your Pi is locked (can’t be used for purchases). Example: You stake 200 Pi for 60 days. After 60 days, you’ll get back exactly 200 Pi—no bonus, no interest. The 212 Pi is only used to help boost the app’s ranking in the ecosystem. Staking is a way to support the ecosystem, not to earn. Make your choices consciously,” a user explained.

Despite the disappointment, Pioneers have highlighted that the new staking mechanism could benefit the network. According to a user, this incentivizes meaningful engagement and prioritizes apps that users value enough to support financially.

Moreover, the system also reduces the overall circulating supply of Pi, potentially impacting its availability and price.

“Circulating Supply is decreasing – because all the Pioneers who are staking Pi are locking it, so it will not be available in the market,” the post read.

The decrease in supply, combined with the potential increase in demand, could theoretically drive up the price. Given PI’s recent performance, it could use any catalyst that helps boost its value or visibility. BeInCrypto reported previously that despite major updates, the price performance has been quite underwhelming.

Pi Coin’s value has declined 3.57% over the past day. At the time of writing, it traded at $0.48, just 20.5% away from its all-time low.

Thus, while Pi Network’s approach to app development and ecosystem engagement is notable, the staking feature highlights the need for transparent communication to maintain user trust. For now, the long-term impact on Pi Coin’s value, if any, and user participation remain uncertain.

The post Pi Network Staking Leaves Users Confused Over Lack of Rewards appeared first on BeInCrypto.

As the debate over Trump’s Big Beautiful Bill reaches a fever pitch, Senator Cynthia Lummis is attempting to add an amendment to reduce taxes on crypto miners. The White House reportedly supports her efforts.

However, these last-minute amendments work both ways. Anti-crypto and anti-renewable modifications may actually hurt crypto miners, and it’s impossible to say what will become law.

Trump’s Big Beautiful Bill and Crypto Implications

It’s a tough time for crypto miners, with firms exiting the business and geopolitical disruptions bringing the global hashrate to an 8-month low.

Additionally, Senator Cynthia Lummis identified some apparent inconsistencies in these firms’ tax obligations. Aiming to fix this, Lummis is working to add some last-minute amendments to Trump’s Big Beautiful Bill:

For years, miners and stakers have been taxed TWICE. Once when they receive block rewards, and again when they sell it.

It’s time to stop this unfair tax treatment and ensure America is the world’s Bitcoin and Crypto Superpower.

— Senator Cynthia Lummis (@SenLummis) June 30, 2025

The Big Beautiful Bill is a controversial budget reconciliation effort that’s growing to cover a huge range of topics. It passed the House of Representatives, and the Senate is in a flurry of activity to deliver on a workable version.

Amendments and backroom deals are going back and forth around the clock, leaving Lummis an opportunity to squeeze in mining tax reform.

Congressional reporters claimed that the White House supports Lummis’ effort, especially since she’s a firm Trump ally.

Strictly speaking, her proposed reform seems fairly straightforward: remove one tax on US miners, either when they receive block rewards or sell them. The Big Beautiful Bill might be her best chance to pass them quickly.

However, the Big Beautiful Bill is becoming a convoluted mess. As the name suggests, it covers a huge range of topics, including tax policy, social issues, AI regulations, and more.

Prominent crypto advocates like Elon Musk staunchly oppose it, for one thing. Much like Lummis, several anti-crypto Senators are hoping to pass their own amendments at the last minute.

In other words, Senator Lummis can’t make the bill uniformly pro-crypto with a single amendment. Furthermore, even if Trump supports her effort, he has many other priorities.

For example, White House Press Secretary Karoline Leavitt discussed the Big Beautiful Bill in a press conference today, relaying Trump’s message that he is dissatisfied with Jerome Powell as Fed Chair.

This is just one of the many fights that may take the President’s attention away from mining tax reform.

All that is to say, it’s currently more or less impossible to say whether Lummis’ tax cuts will survive the negotiations. Indeed, the Big Beautiful Bill might even hurt crypto miners, depending on the successful amendments.

One proposal would de-incentivize green energy, which the mining industry relies on.

The post Lummis Proposes Tax Cuts for Crypto Miners in Trump’s Big Beautiful Bill appeared first on BeInCrypto.

A new variation on crypto crime has occurred as three victims were robbed in a mall parking lot in Bangkok. They were preparing to exchange $100,000 in crypto assets when five assailants attacked them.

The criminals may have been involved in setting up the crypto deal, as happened in a similar incident in Phuket last November. Thai authorities are searching for the perpetrators.

Bangkok Crypto Deal Goes South

Crypto crimes are at an epidemic level right now, and that can manifest in some extremely bizarre ways. This recent story from Bangkok is a prime example, as crypto was never directly involved.

Instead, the victims pooled together 3.4 million baht (worth about $100,000) to do an in-person transaction, which evidently went south:

Police hunt 5 robbers after ฿3.4m crypto deal turns violent in Bangkok mall car park

In a shocking incident at Central Plaza Ladprao, thieves stole ฿3.4m during a planned cryptocurrency transaction, escaping in a Honda car. pic.twitter.com/PyLNKlnsk3

— Bangkok Lad (@bangkoklad) June 30, 2025

Unfortunately, there is a severe lack of other relevant details. Local authorities are looking for the attackers and have plenty of information about the getaway car. However, it may have been stolen before the theft took place.

Further, because this Bangkok theft didn’t involve crypto, there’s no way to monitor blockchain data. The perpetrators only need to launder a bag of cash, which might be incredibly easy.

Thailand has been home to another recent crypto theft, although this one took place far away from Bangkok. In November 2024, a Ukrainian national was robbed in Phuket, an island near the southernmost tip of the country.

Four men kidnapped and extorted him, demanding 250,000 in USDT. After they left, the victim escaped and informed the police.

One of these four robbers was a past associate of the victim, having previously bought USDT from him on several occasions. Hopefully, this 2024 incident may also provide a critical link to today’s Bangkok crypto theft.

Specifically, it seems very possible that the alleged crypto vendors and the robbers are in league or even the exact same people.

Crypto ATMs are not widespread in Thailand, so these Bangkok men needed some other intermediary to exchange cash for tokens.

Whoever offered to make the trade would, therefore, have more than enough information to stage a robbery. This theory seems more likely than the assailants randomly encountering men carrying a sack full of cash in public.

More Recent Crypto Crime Stories

BeInCrypto has been hard at work covering this crypto crime wave, including violent and nonviolent incidents:

• France’s crypto kidnapping spree continues in June, shocking the nation. Police arrested several ringleaders in Morocco this month, hoping for an end to the attacks, but remaining operatives or copycats continue the horrific attacks.
• North Korean hackers attack both sides of the hiring process, targeting crypto industry job seekers and posing as fake candidates. Pepe creator Matt Furie lost over $300,000 after hiring a hacker for an IT role, and Favrr lost $680,000 after appointing a North Korean infiltrator as its CTO.
• Shockingly, low-quality crimes are seeing a lot of success in the US thanks to social engineering. Multiple criminals defrauded users out of millions, yet proved incredibly easy for law enforcement to track. One thief stole $4 million and lost almost all of it to a gambling addiction.
• Despite all these crimes, authorities are on the hunt, as cooperation from 15 separate nations brought down an international fraud ring. The group stole $540 million from victims around the globe.

The post Armed Robbers Steal $100,000 in a Mall Parking Lot | Crypto Horror Story appeared first on BeInCrypto.