SEC Chair Paul Atkins has shown a change in the agency’s approach to cryptocurrency regulation. During his opening remarks at the third roundtable of the SEC’s Crypto Task Force, he stated that “innovation has been stifled for the last several years due to market and regulatory uncertainty that, unfortunately, the SEC has fostered.”
Paul Atkins shares his vision for crypto regulation
Speaking just four days into his tenure as SEC Chair at his first ever SEC crypto roundtable, Atkins expressed eagerness to tackle “long festering issues such as the regulatory treatment of digital assets and distributed ledger technologies” in collaboration with fellow commissioners, staff, and through external input from industry participants. The roundtable specifically addressed challenges that SEC registrants face when attempting to custody crypto assets for customers in compliance with federal securities laws.
JUST IN: Opening remarks and first public address by the new SEC Chairman Paul S. Atkins at the Crypto Task Force Roundtable – Know Your Custodian: Key Considerations for Crypto Custody. pic.twitter.com/mabCJOjCYq
In his address, Chairman Atkins shared a vision for establishing what he termed a “rational fit-for-purpose framework for crypto assets.” This approach is a major change from the SEC’s previous regulatory stance under former leadership.
Atkins specifically praised Commissioner Hester Peirce, widely known as “crypto mom,” for her “principled and tireless advocacy for common sense crypto policy within the United States.” He stated that Peirce is “certainly the right person to lead the effort to come up with a rational regulatory framework for crypto assets in their markets.”
The Chairman expressed optimism about blockchain technology’s potential benefits. He stated, “I expect huge benefits from this market innovation in terms of efficiency, cost reduction, transparency, and risk mitigation.”
Atkins also inquired about whether the current “special-purpose broker-dealer” model benefits market participants or whether it needs a new model for crypto asset broker-dealers. According to him, the market itself seems to suggest that the current structure adversely requires attention. He alludes to the possibility that the SEC under his tenure could have collaborated more with the crypto sector. His statement comes four days after he was sworn in as SEC chair.
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%.
Strategy has acquired 4,980 BTC for ~$531.9 million at ~$106,801 per bitcoin and has achieved BTC Yield of 19.7% YTD 2025. As of 6/29/2025, we hodl 597,325 $BTC acquired for ~$42.40 billion at ~$70,982 per bitcoin. $MSTR$STRK$STRF$STRDhttps://t.co/xvWnSkfukS
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 historicaddition 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.
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
Illustrative Crypto Treasury Company Death Spiral. Source: Breed
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:
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.
Pi Network has been making headlines in the crypto community, with growing speculation about a possible Binance listing and bold predictions that its price could surge to $10. However, a closer look at the market data and technical indicators shows that such expectations may be overly optimistic for now.
Impressive Growth, But Fundamental Challenges Remain
In the 100 days since Pi Network’s Open Mainnet launch, the project has achieved milestones. Over 3 million new users have joined the platform, bringing the total number of active pioneers to more than 13 million. Additionally, over 400,000 nodes are now live, supporting the decentralized network.
Several new initiatives have been rolled out, including Pi Ventures, a $100 million fund for startups, and Fruity Pi, a casual gaming app. The recent PiFest 2025 event also saw over 1.2 million sellers participate, showing the network’s attempt to evolve from a mining app into a functioning commercial ecosystem.
Despite this progress, Pi Coin’s price has struggled in recent weeks. The token fell by nearly 30% over the past month and is currently down over 7% today, trading around $0.50. This drop brings the price alarmingly close to a key support level at $0.40.
Technical indicators also paint a bearish picture. The Relative Strength Index (RSI 14) has fallen to 30, typically a sign of oversold conditions. However, analysts observe there’s no confirmation of a bullish reversal yet. One crypto analyst stated on social media, “I’ll be surprised if Pi doesn’t hit $0.40 in July.”
Is $10 a Realistic Target?
According to a recent Pi Network price prediction by CoinDCX, the early part of 2025 was expected to see bulls taking strong control, potentially driving Pi’s price above $4.80 to $5.00 by mid-year. However, as we’re now at the halfway point of the year, those bullish targets remain far from reality, with Pi currently struggling around $0.50. The platform’s longer-term forecast sees Pi ranging from $3.3 to $5.5 in 2025, and potentially reaching $9.1 by 2027.
For Pi to approach the much-hyped $10 mark, it would require sustained demand, increased exchange listings, and greater real-world utility — none of which are confirmed at this stage. Even if Pi were to reclaim its previous peak valuation relative to Bitcoin, it would only imply a 190% increase from current levels, putting its market capitalization at approximately $26 billion.
Such a valuation would place Pi among the top 10 cryptocurrencies, a position many analysts believe would be difficult to justify given the project’s current adoption and liquidity.
The post Pi Network Price May Never Hit $10 appeared first on Coinpedia Fintech News
Pi Network has been making headlines in the crypto community, with growing speculation about a possible Binance listing and bold predictions that its price could surge to $10. However, a closer look at the market data and technical indicators shows that such expectations may be overly optimistic for now. Impressive Growth, But Fundamental Challenges Remain …
Coinbase is expanding its futures trading offerings with the introduction of 24/7 contracts for Solana (SOL), XRP, and Cardano (ADA), set to launch on June 13. This move aims to provide US traders with compliant access to altcoin derivatives, navigating the evolving regulatory landscape. XRP, SOL & ADA Futures to Trade 24/7 on Coinbase In the latest development, Coinbase announced the expansion of its 24/7 futures trading to include XRP and Solana contracts. This move builds on the platform’s existing round-the-clock trading for Bitcoin and Ethereum futures contracts. In an X post, the exchange noted, “Starting June 13, we’re enabling 24×7 trading for XRP and Solana futures, unlocking real-time access to U.S. traders, reflecting the always-on nature of crypto markets.” “The arrival of 24/7 CFTC-regulated markets is a game-changer for the industry,” said Andy Sears, CEO of Coinbase Financial Markets. Initially, Coinbase had restricted this round-the-clock trading to only Bitcoin… Read More at Coingape.com
Opening remarks and first public address by the new SEC Chairman Paul S. Atkins at the Crypto Task Force Roundtable – Know Your Custodian: Key Considerations for Crypto Custody.
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