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2 Jun 2026, 13:45
Trump Endorses Steve Hilton for California Governor, Backing ‘World Crypto Capital’ Vision
BitcoinWorld Trump Endorses Steve Hilton for California Governor, Backing ‘World Crypto Capital’ Vision President Donald Trump has publicly endorsed Steve Hilton, a Republican candidate for Governor of California, who has pledged to transform the state into the ‘World Crypto Capital’ by loosening digital asset regulations and attracting top talent in the blockchain sector. The endorsement, announced on social media, signals a potential shift in California’s approach to cryptocurrency oversight. Hilton’s Crypto Agenda Steve Hilton, a former adviser to British Prime Minister David Cameron and a longtime political commentator, has made cryptocurrency a central pillar of his gubernatorial campaign. He proposes reducing regulatory barriers for blockchain startups, creating tax incentives for crypto businesses, and establishing a state-level task force to foster innovation. Hilton argues that California’s current regulatory environment drives crypto entrepreneurs to states like Texas and Florida, and he aims to reverse that trend. Implications for California’s Economy California is home to Silicon Valley and a significant portion of the U.S. tech industry, but its strict financial regulations have often clashed with the fast-moving crypto sector. Hilton’s plan could reshape the state’s economic landscape, potentially attracting investment and jobs. However, critics warn that lax regulations could increase risks for consumers, including fraud and market volatility. The endorsement from Trump, who has shown fluctuating support for digital assets, adds a national political dimension to the race. Political and Industry Reactions The endorsement has drawn mixed reactions. Crypto industry leaders have praised Hilton’s vision, viewing it as a potential catalyst for mainstream adoption. Consumer advocacy groups, however, have expressed concerns about insufficient investor protections. Political analysts note that Trump’s backing could energize the Republican base in California, a state where Republicans have struggled in recent statewide elections. The 2026 gubernatorial race is expected to be highly competitive, with several Democratic candidates also entering the field. Conclusion Trump’s endorsement of Steve Hilton elevates the crypto debate in California’s gubernatorial election. While Hilton’s ‘World Crypto Capital’ proposal offers a clear policy direction, its feasibility and impact remain uncertain. The race will test whether crypto-friendly policies can gain traction in a state known for its consumer protections and progressive regulations. For now, the endorsement positions Hilton as a candidate to watch, particularly among voters and investors interested in digital assets. FAQs Q1: What is Steve Hilton’s ‘World Crypto Capital’ plan? Hilton proposes easing digital asset regulations, offering tax incentives for crypto businesses, and creating a state task force to attract blockchain talent and investment to California. Q2: Why did Trump endorse Hilton? Trump’s endorsement aligns with his broader support for deregulation and his recent overtures to the crypto industry. It also aims to boost Republican chances in a traditionally Democratic state. Q3: Could this plan actually make California the world crypto capital? While the plan could attract crypto businesses, it faces significant hurdles, including opposition from consumer advocates, existing state regulations, and competition from other crypto-friendly jurisdictions. This post Trump Endorses Steve Hilton for California Governor, Backing ‘World Crypto Capital’ Vision first appeared on BitcoinWorld .
2 Jun 2026, 13:42
Strategy’s 32 BTC sale brings fresh tension to the crypto market! What is the risk the market is watching?
🚨 Strategy’s 32 BTC sale ignited debate over forced liquidations in $BTC. Bitcoin tumbled 4.5 percent, falling behind Ether and Solana in daily losses. ⚡️ Analysts warn the 63,000 dollar threshold could be a key support to watch. Continue Reading: Strategy’s 32 BTC sale brings fresh tension to the crypto market! What is the risk the market is watching? The post Strategy’s 32 BTC sale brings fresh tension to the crypto market! What is the risk the market is watching? appeared first on COINTURK NEWS .
2 Jun 2026, 13:40
Polymarket Trader Loses $527K as Strategy’s First Bitcoin Sale Since 2022 Settles a Heated Bet
A trader on the decentralized prediction market Polymarket lost about $527,000 in a single day after Strategy disclosed its first bitcoin sale since 2022, per Lookonchain. A Bet Settled by an SEC Filing A Polymarket trader identified onchain as ‘willo2’ lost around $527,000 in a day after Strategy’s bitcoin sale was made public. The wager
2 Jun 2026, 13:40
Movement Relaunches as Layer 1 Blockchain After Token Sell-Off Controversy
BitcoinWorld Movement Relaunches as Layer 1 Blockchain After Token Sell-Off Controversy Movement, the Ethereum Layer 2 blockchain that faced significant controversy over a large-scale token sell-off shortly after its launch last year, has been relaunched as an independent Layer 1 blockchain. The company, now operating under the leadership of new CEO Torab Torabi, is shifting its strategic focus toward providing financial services for emerging markets, with a stated goal of becoming a stablecoin payment solution for the region. Background and Controversy The original Movement Labs project launched its token to considerable market interest. However, shortly after the launch, reports emerged of a substantial token sell-off that drew criticism from early investors and community members. The sell-off raised questions about the project’s long-term viability and governance. In response, the company underwent a significant restructuring, culminating in the acquisition of its core research and development division by Move Industries, a newly formed entity led by Torab Torabi. A New Direction Torabi, who previously handled business development at Movement, now leads Move Industries. In a recent statement to CoinDesk, he emphasized that the company is essentially a fintech firm that utilizes blockchain technology, rather than a traditional crypto company. This distinction is central to the company’s new identity and its pivot toward serving unbanked and underbanked populations in emerging markets. Partnerships and Product Roadmap To execute its new strategy, Move Industries has secured partnerships with several notable players in the digital finance space. These include: Circle : The issuer of the USDC stablecoin, which will likely serve as the primary medium for transactions on the new Layer 1 network. KAST and Sorted : Wallet startups focused on user-friendly digital asset management, crucial for onboarding non-crypto-native users. Oro : A tokenization project that will enable the representation of real-world assets on the blockchain. These partnerships are designed to create a comprehensive ecosystem for stablecoin payments, including issuance, custody, and merchant acceptance. Why This Matters Movement’s relaunch as a Layer 1 blockchain is a notable case study in the crypto industry’s ongoing evolution. It highlights the tension between speculative token launches and the development of real-world financial infrastructure. By positioning itself as a fintech company focused on stablecoin payments for emerging markets, Movement is attempting to distance itself from the volatility and regulatory scrutiny that often accompanies Layer 1 projects. If successful, it could demonstrate a viable path for other projects that have faced similar controversies. However, the company will need to rebuild trust with the broader crypto community and prove that its new focus is sustainable. Conclusion Movement’s transition from a controversial Ethereum Layer 2 to a purpose-built Layer 1 blockchain represents a significant strategic pivot. With a new CEO, a clear focus on stablecoin payments in emerging markets, and a suite of strategic partnerships, the company is attempting to redefine its narrative. The success of this endeavor will depend on execution, regulatory navigation, and the ability to deliver tangible financial services to its target users. FAQs Q1: What was the token sell-off controversy at Movement? A1: Shortly after Movement’s token launch last year, a large-scale sell-off by insiders or early investors occurred, which drew criticism from the community and raised concerns about the project’s governance and commitment to long-term value. Q2: Why did Movement relaunch as a Layer 1 blockchain? A2: The relaunch as a Layer 1 blockchain allows Movement to operate independently of Ethereum and focus on its new mission of providing stablecoin payment solutions specifically for emerging markets. Q3: Who is Torab Torabi? A3: Torab Torabi is the new CEO of Move Industries, the company that acquired Movement’s core R&D division. He previously handled business development at Movement and is now leading the company’s pivot toward fintech services. This post Movement Relaunches as Layer 1 Blockchain After Token Sell-Off Controversy first appeared on BitcoinWorld .
2 Jun 2026, 13:31
Ethereum: Strong Holder Growth Contrasts With Weak Market Performance
2 Jun 2026, 13:30
Bitcoin Moves Into Accumulation Zone That Will Send It On Next All-Time High Run To $250,000
Crypto analyst Aralez has revealed that Bitcoin is entering an accumulation zone that could propel it to a new all-time high (ATH). The analyst signaled that BTC could rally to as high as $250,000 in the next bull market. Analyst Reveals Bitcoin Entering Major Accumulation Zone In an X post, Aralez stated that Bitcoin is near a major accumulation zone, with BTC following a similar script to past bear market cycles. He noted that the leading crypto saw losses of 87%, 84%, and 77.5% from its cycle highs in 2013, 2017, and 2021, respectively. Now, Bitcoin is down around 42% from its October 2025 high of $126,000. Related Reading: Bitcoin Is Still Following This Descending Channel Pattern And The Endgame Shows The Bottom The analyst’s accompanying chart showed that Bitcoin could bottom around $40,000 in this bear market before it then rallies to a new all-time high in the next bull run. The bottom is expected to happen between now and the start of next year. Meanwhile, the chart also showed that BTC could rally to as high as $250,000 by 2029. Aralez’s analysis comes amid Bitcoin’s recent decline, with the leading crypto dropping below $71,000 and now at risk of dropping below the psychological $70,000 level. The latest decline came as Michael Saylor’s Strategy announced that they sold 32 BTC. This was the first time that the largest Bitcoin treasury firm has sold BTC since 2022, when it sold for a tax-loss harvesting transaction. At the same time, a U.S.-Iran peace deal is looking unlikely anytime soon, which is also bearish for Bitcoin. Iran had suspended negotiations with the U.S. over ceasefire violations, which caused BTC to drop below $71,000. The leading crypto also failed to record any notable bounce, even as U.S. President Donald Trump said that negotiations were still ongoing. BTC Breaks 4-Month Ascending Channel In another X post, Aralez revealed that Bitcoin had just broken a 4-month ascending channel and that it had lost a key support after testing the $70,000 zone. The analyst then outlined what he expects next from BTC’s price action, with an acceptance below $73,000 happening and then a liquidity sweep around $70,000. Related Reading: Bitcoin Enters Buy Zone That Previously Led To A 660% And 1,700% Rally The analyst further stated that a relief bounce could follow, with a retest near $74,000, then a move lower towards $65,000, $60,000, and finally $58,000. He also warned that a mini rally is likely over and that the broader trend still points toward new local lows. Aralez added that there may be short-term bounces, but expecting a fresh push above $83,000 could be costly. At the time of writing, the Bitcoin price is trading at around $70,500, down over 3%, according to data from CoinMarketCap. Featured image from Pixabay, chart from Tradingview.com
