Crypto & Blockchain Daily Brief Tuesday, June 17, 2025

Bitcoin's price has surged past $10,600, and data shows that large anonymous entities, known as "whales," have been actively moving significant amounts of Bitcoin. These whales are believed to have the potential to influence the market due to the large amounts of cryptocurrency they control. The movement of Bitcoin by these whales has been tracked through on-chain data, which provides insights into the activity of these large holders. The movement of Bitcoin by the whales indicates possible market manipulation or strategic moves to capitalize on the price surge. Despite the presence of whales in the market, Bitcoin has continued to experience an upward trend in price. This price surge has been attributed to various factors, including increased adoption, growing interest from institutional investors, and a favorable macroeconomic environment. The price of Bitcoin reaching above $10,600 has sparked optimism among investors and traders, with many predicting further gains in the near future. However, there is also caution about potential market manipulation by whales and the impact it could have on the price of Bitcoin. Overall, the movement of Bitcoin by anonymous whales as the price of Bitcoin surges above $10,600 highlights the influence these entities can have on the market. It also underscores the complexity of the cryptocurrency market and the various factors that can impact the price of Bitcoin.

The article discusses the launch of Truth Social, a new social media platform created by former President Donald Trump. Truth Social is set to go public through a Special Purpose Acquisition Company (SPAC) called Digital World Acquisition Corp. The platform aims to provide an alternative to mainstream social media platforms and is currently in the testing phase. In addition to this, the Securities and Exchange Commission (SEC) has received an application for a Bitcoin ETF from asset management firm Global X. The ETF would track the performance of the Bitcoin futures market. Another asset manager, VanEck, has also filed for an Ether ETF, which would track the price of Ether futures. The article explains that the SEC has been hesitant to approve Bitcoin and Ether ETFs in the past due to concerns about market manipulation and fraud. However, with the increased interest and participation in the cryptocurrency market, there is growing pressure on the SEC to approve these ETFs. The launch of Truth Social and the application for Bitcoin and Ether ETFs demonstrate the growing influence of cryptocurrencies and blockchain technology in various sectors. It also highlights the importance of regulatory bodies like the SEC in overseeing these new developments and ensuring investor protection.

Former President Donald Trump's social media platform, Truth Social, has filed a draft registration with the US Securities and Exchange Commission (SEC) for a Regulation A initial public offering (IPO). The company aims to raise $1 billion in the offering and plans to trade on the Nasdaq under the symbol "TRUTH." Trump Media & Technology Group (TMTG), the parent company of Truth Social, revealed in the SEC filing that it owned $1.3 million in Bitcoin as of December 31, 2021, and had invested $25,000 in Ether in January 2022. Additionally, the company disclosed that it plans to launch Bitcoin and Ether exchange-traded funds (ETFs) in the future. Regulation A offerings are commonly used by smaller companies to raise capital and are subject to fewer regulatory requirements compared to traditional IPOs. The filing for the Truth Social IPO comes after the platform's soft launch in February, which experienced technical difficulties and faced criticism over its moderation policies. Truth Social aims to provide a platform for conservative voices and has been marketed as an alternative to mainstream social media platforms. The disclosure of TMTG's cryptocurrency holdings and plans for Bitcoin and Ether ETFs in the SEC filing highlights the company's interest in digital assets and its intention to capitalize on the growing popularity of cryptocurrencies. The developments surrounding Truth Social and its plans for an IPO demonstrate the intersection of technology, social media, and finance in the current digital landscape.

JPMorgan Chase has filed a trademark application for a blockchain-based system that would facilitate the creation of digital wallets for its customers. The application describes a platform that would allow for the transfer of digital tokens backed by deposits held in designated accounts. The system would also provide real-time payments and account balance information. JPMorgan's potential stablecoin, known as JPM Coin, could be used for a variety of transactions, including payments, securities settlements, and other types of financial transactions. The bank has previously announced plans to use blockchain technology to improve its payment processes and reduce costs. The trademark application suggests that JPM Coin could be used in a number of different industries, including financial services, telecommunications, and healthcare. The application also indicates that the stablecoin could be integrated with other blockchain networks to facilitate cross-border transactions. While JPMorgan's stablecoin is still in the development stages, the trademark application indicates that the bank is serious about entering the digital currency space. By creating a blockchain-based system that allows for the transfer of digital tokens backed by fiat currency, JPMorgan aims to provide its customers with a secure and efficient way to conduct transactions. Overall, JPMorgan's trademark application for a blockchain-based system to facilitate digital wallets and stablecoin transactions reflects the bank's commitment to exploring the potential of blockchain technology in the financial industry.

MetaPlanet, a company founded by billionaire entrepreneur Mark Cuban and software developer Ryan Hoover, has announced its ambitious goal of acquiring one million Bitcoins. The company plans to achieve this by offering a suite of products and services that will make it easier for individuals and institutions to invest in Bitcoin. MetaPlanet aims to create a seamless experience for users looking to buy and hold Bitcoin. Its products will include a Bitcoin wallet, an educational platform, and a range of tools to help users manage their investments. The company also plans to offer a Bitcoin rewards program to incentivize users to hold onto their coins. According to Cuban, MetaPlanet's goal of acquiring one million Bitcoins is driven by the belief that Bitcoin is a better store of value than gold. He sees Bitcoin as a hedge against inflation and believes that its limited supply makes it a valuable asset for long-term investors. MetaPlanet's approach to Bitcoin acquisition is unique in that it is focused on accumulating a large amount of the cryptocurrency over time. This strategy contrasts with other companies and individuals who may buy and sell Bitcoin for short-term gains. Overall, MetaPlanet's goal of acquiring one million Bitcoins reflects a growing interest in the cryptocurrency as a store of value. The company's products and services aim to make it easier for individuals and institutions to invest in Bitcoin, positioning MetaPlanet as a key player in the evolving cryptocurrency market.